Will I get approved thru GMAC?

[SPRING]

I want a 35K car thru GMAC. I have previously been approved for a 27K loan throuh househould at 11% 2 months ago. I thought that was too high. Income is 70K.

 

I have 0% utilization, credit scores of 695(EQ - 1 CO), 650(EX - 3 CO's) and 619(TU - 3 CO's). All of my CO's are unpaid.

 

I do have a previous paid auto loan, not with GMAC, that has 2 30-day lates.

 

Do I have any chance of getting financed for a 35K loan with about 1500 down?

 

Would it be better to pay off the CO's before I apply? I know this won't help my score, but does it matter when applying for a car loan?

 

Thanks in advance for you responses.

[jeepgirl20]

hubby and i had excellant credit. we got an interest rate of 11.65 through GMAC. yuck... so they might approve you, but it might be a high amount.

we don't plan on using them again. we got the loan one year ago, and we just applied to refinance tonight.

[MarvBear]

I want a 35K car thru GMAC. I have previously been approved for a 27K loan throuh househould at 11% 2 months ago. I thought that was too high. Income is 70K.

 

I have 0% utilization, credit scores of 695(EQ - 1 CO), 650(EX - 3 CO's) and 619(TU - 3 CO's). All of my CO's are unpaid.

 

I do have a previous paid auto loan, not with GMAC, that has 2 30-day lates.

 

Do I have any chance of getting financed for a 35K loan with about 1500 down?

 

Would it be better to pay off the CO's before I apply? I know this won't help my score, but does it matter when applying for a car loan?

 

Thanks in advance for you responses.

 

Very difficult to say with just the info provided.

 

It would be unlikely to recieve a 35k loan on a vehicle worth 27k, How much is CO and how old is it.

 

It would be likely to recieve a 35k loan on a vehicle worth very close to that though. I guess depend on what CO was for and how old it it.

 

Some more pertinent info would help.

[SPRING]

The car that I'm interested in is the 2004 Cadillac CTS.

 

The CO's are:

EQ $350 utility bill from 2003

 

EX $100 Verizon bill from 2002

$350 utility bill from 2003

$16 utility bill from 2001

 

TU $53 medical bill from 2001

$16 utility bill from 2001

$350 utility bill from 2003

 

The I have 3 charge cards listed on my reports, all with $0 balances and no lates. I also have a student loan that is currently in repayment, with no lates. I have a credit histroy of 10 years.

[MarvBear]

IMO you should be ok with GMAC, although since theirs is an internal scoring system, I have no idea of the rate.

 

I ghink GMAC is a wee bit more lenient on their Caddy products in order to get more market share.