Application for Marv

[RyanR]

Credit Application:

 

Your Age? 22

 

Your Equifax Credit Score? 700~

Your Experian Credit Score? 700~

Your TransUnion Credit Score? 700~

 

How many years have you been on file with Equifax? 4

How many years have you been on file with Experian? 4

How many years have you been on file with TransUnion? 4

 

YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY

 

Do you have an open auto loan? no

Will this open auto loan be a trade-in? no

How many late pays within the last 12 months on the currently open loan?

How many late pays within the last 13-24 months on the currently open loan?

Your current open auto loan is financed with?

Your current open auto loan payment is?

Estimated amount you may be upside down in this vehicle?

Rate your payment history on this open auto loan from 1-10 (1=poor:10=Best)

 

 

YOUR REVOLVING CREDIT HISTORY

 

Total number of revolving account(s) you have? 3

Total percentage utilized overall? 7

How many of your revolving accounts are store cards? 0

How many of your revolving accounts are major credit cards? (i.e. Amex, MC, Visa) 2

How many of your revolving accounts are known subprime credit cards (i.e. Aspire, 1st Premier) 1

 

YOUR PERSONAL INFORMATION

 

How long at your current residence? 5

Do you Rent or have a Mortgage, or Live w/Relative or Other? live with relative

Your Monthly Rent or Mortgage payment? 0

How long have you held your current job? 1 year

Your total provable monthly gross income is? 15k

Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return, or bank statements) computerized paystub

Is there additional monthly income? What amount monthly? no

Describe the source.

Is the additional monthly income provable? no

Spousal income is not applicable.

 

YOUR DOWNPAYMENT

Please tell me your exact down payment in cash? (rebates and trade equity are not considered, please input a dollar value only.) $3,000

Does any credit repository contain any Public Record? no

If yes, please very briefly describe.

 

Does any credit repository contain any Collection Account(s)?

If yes, please very briefly describe.

 

Please rate your overall creditworthiness on a scale of 1-10 (1=poor, 10= best) 7

Please rate your Installment credit history on a scale of 1-10 (1=poor, 10=best) 7

Please rate your Revolving credit history on a scale of 1-10 (1=poor, 10=best) 7

 

I didn't see anywhere on the application or it makes a difference, but I'm looking to finance about 15-20k (more so 20k)

[hurricanesfans27]

whats your high credit?

 

 

tentative approve depending on DTI

[RyanR]

I'm not sure what you mean by high credit, but my highest score is the one in my sig @ 71x.

 

What does DTI mean?

 

How much is my low income going to affect me attempting to finance 15-20k? I only work part time.

[hurricanesfans27]

I'm not sure what you mean by high credit, but my highest score is the one in my sig @ 71x.

 

What does DTI mean?

 

How much is my low income going to affect me attempting to finance 15-20k? I only work part time.

 

 

 

income could be a problem with what you are trying to finance. my ? on high credit was how much is the most you have financed? Im trying to see how deep your credit file is to render an opinion. If your score is based on a 1000 credit line and there is no 10k installment lines then it will impact what a lender will do

[RyanR]

I've never taken out a loan/auto loan or anything.

[hurricanesfans27]

you may want to think lower but the banks have 3000 reasons to finance you. tentative approval depending on POI and LTV

[MarvBear]

Your total provable monthly gross income is? 15k

 

I don't consider that a low monthly income.

[RyanR]

Sorry lol

 

I read the whole thing wrong. Annual income is 15k, I work part time.

 

Will it help a lot if I have a co-signer? Ideally the car will be a used one @ around $15k.

[MarvBear]

approved @ 85% LTV. Payment not to exceed $250.00.

[RyanR]

Is there a seperate index glossary for the automotive section? Sorry what exactly is 85% LTV? does that mean 15% apr ?

[MarvBear]

http://creditboards.com/forums/index.php?autocom=faq

 

Loan To Value

 

Your apr (annual percentage rate) would be predicated on an approving lenders credit score card.