Will I be approved?

[Volpe Mar]

Ok...

Credit Profile
Equifax FICO score: 690
TransUnion FICO score: 662 (pulled from lender 04/20, believed to be TU 04)

12 years credit history, 2 negatives:
1 30-day late on credit card: January 2008; card closed "at consumers request" and payed as agreed
1 30-day late installment loan (auto loan): January 2011
No public records/collections

Auto Loan History
Auto loan paid off, one 30 day late payment (01-2011)
Reported to all three bureaus

Revolving Credit
9 credit cards
Utilization ratio: 40%
1 30-day late (01-2008)

Personal
2 Years at current employer
3 Years at current residence
$2,080/month gross income
House paid off / $0

Vehicle(s) I'm Considering
Used car, 2008-2012 model year with less than 70,000 miles
$15,000/$16,000 max
$6,000 cash down payment (no trade in)

[Allisson0605]

I think you have a great shot, especially with money down.

[Volpe Mar]

Really? I was expecting maybe a "fair" shot

 

The car loan was just paid last week (still waiting to receive the title in the mail), not sure if that would boost my credit score much?

I'm still a bit concerned about the interest rate, I know many people do sign the line even if its 8-12%, but I really want something under 5%.

[Volpe Mar]

I notice a "Pre-Approved up to $20,000 @ 4.19%" offer when I logged into my USAA online banking account today.

 

Is this just a marketing ploy, like the ones Capital One sends me in the mail every now and again?

Sometimes I wonder about USAA.

 

Doesn't help my urge to purchase a nicer car

[MarvBear]

good luck.

[Volpe Mar]

good luck.

 

darn it

[MarvBear]

 

I notice a "Pre-Approved up to $20,000 @ 4.19%" offer when I logged into my USAA online banking account today.

That's why I said good luck. You already have an approval.

[Volpe Mar]

 

 

I notice a "Pre-Approved up to $20,000 @ 4.19%" offer when I logged into my USAA online banking account today.

That's why I said good luck. You already have an approval.

 

Well thanks I guess.

I'm reading some reviews online where people where denied, so the title "pre-approved" doesn't have much weight I suppose.

 

I've decided to hold out, and pay off my cc debt.

[Volpe Mar]

I lied about paying off my cc debt first... I applied and was approved (USAA).

 

The rate is higher than my pre-approval... 6.53%

 

My current car is listed on eBay Motors classified (none-auction) website, and someone is already coming to look at it this Saturday; that was fast. Says he is "very interested", so hopefully things go smoothly. He will get a nicely cared for Honda and I will get more than trade in value.

 

Now I get to have fun car shopping.

[MarvBear]

have fun.

[Mo Munny Mo Problems]

I notice a "Pre-Approved up to $20,000 @ 4.19%" offer when I logged into my USAA online banking account today.

 

Is this just a marketing ploy, like the ones Capital One sends me in the mail every now and again?

Sometimes I wonder about USAA.

 

Doesn't help my urge to purchase a nicer car

My wife had the same thing and she got approved. No docs required either. Was a new car at a dealership though. They just maied a check overnighted (for only $8 too)

 

They have been great

 

Also, there was a pre approva for the credit card "Up to $25,000" on both of our logins.

 

I clicked it on hers and it gave her $6500.

 

 

ALSO, I just sold my GTO and the guy applied at USAA and same thing, they overnighted the check(for $8) and I gave him the car.