App for Marv

[5th-3lement]

Your Age: 25

Your Equifax Credit Score: 630 FICO

Your Experian Credit Score: 650 FICO

Your TransUnion Credit Score: 690 FICO

 

 

How long have you been on file with the CRA?s? 7 years

Previous Automotive Credit History: No

Do you have an open auto loan? No

Will this loan be a trade-in? No

Number of late pays within the last 12 months on the currently open loan? 0

Number of late pays within the last 13-24 months on the currently open loan? 0

Current open auto loan is financed with? n/a

Current open auto loan payment is? n/a

Estimated amount you may be upside down in this vehicle? n/a

Rate your payment history on this open auto loan from 1-10 (10=BEST) n/a

 

Revolving Credit History:

Total number of revolving accounts? 1 (after bankruptcy)

Total percent utilization overall? 48%

 

Your Information:

How long at residence? 3 year

Rent/Homeowner/Live with relative? Rent.

How long at current job? 1 year

Total Provable MONTHLY GROSS INCOME? $600 ($2600 w/ hubby)

Provable via computerized paystub or what method? Computerized paycheck stubs

Your Downpayment in CASH: $500

 

 

Does any credit repository contain any Public Record? Yes

Chapter 7 Bankruptcy (discharged Feb. 03)

 

Does any credit repository contain any Collection Account(s)? No

 

 

New or Used Vehicle you are considering; please describe:

Used, below $13,000

 

Your creditworthiness on a scale of 1-10 with 10 being the best:

OVERALL credit: 6

Installment Credit History: 8 (just started paying student loans)

Revolving Credit History: 6

 

I know it looks like a lender's nightmare. I could possibly get my mother to cosign if that would help.

[MarvBear]

at 600 monthly income is an automatic decline.

 

you would need a co-applicant with additional income prefferable your spouse.

[5th-3lement]

ok, that's what I figured; my hubby's FICOs are extremely low (see his signature below), would we still be approved? Would his scores increse the interest rate we're offered?

[MarvBear]

depends on the lender, if they blend the scores, then yes, his lower scores would have an impact on the apr.