Rate me Marv

[lillaztfats81]

Thank you in advance, Sir.

 

Your Age: 21

How long have your been on file with the CRA’s? 3YRS 11MO

 

Credit Scores:

Equifax? 749

Experian? 746

TransUnion? 738

 

Your Credit:

Rate your OVER ALL credit from 1-10 (10=BEST) 9

Rate your installment Credit from 1-10: none applicable

Rate your revolving Credit from 1-10: 9

 

Public Records? NO

If yes, please describe:

 

Auto Loans:

Do you have an open auto loan? NO

How many auto loans are presently open? N/A

Are you trading in your open auto loan? NO

Are there late pays on your CURRENT auto loan? N/A

If yes, please list the time frame.

Current open auto loan is financed with? 0

Current open auto loan payment? 0

Estimated amount you may be upside down in this vehicle? N/A

Rate this open auto loan from 1-10. N/A

 

Credit Cards:

Total number of revolving accounts: 5

Percent utilization overall: 14%

 

Your Info:

Total Provable MONTHLY GROSS income: never had a job

Provable via computerized paystubs or what method: n/a

 

New or Used Vehicle: new

Please describe desired vehicle: 2005 Toyota Tacoma

Please leave any comments that your feel may be pertinent and may lend added weight for a favorable outcome

 

My credit is quite high, mid 700's. Looking for best rate on 2005 Toyota Tacoma. No baddies. Very good credit in my opinion... Total credit from all CC's ~40K. Only problem I worry about is the fact that I have no job? (I get money from allowances..yes the parents) Citibank offered me 1.99% of lifetime of balance (until paid off full). CL on that card is $16.5K. Wondering if having no job will affect my loan?

 

Please give me my best option/rate, thanks

[MarvBear]

Well I kinda hate to say this, but my gut feeling tells me NOT to give you a loan.

 

You have no job, but rather rely on your parents generosity.

 

Please understand, I am not being disrespectfull, but since I deal in facts relative to a credit application and a person's ability to pay, can you tell me how you would complete the credit application in the section "Employment" and also what you would complete either in the "Job Title" section and the "Amount of Monthly/Yearly Income" section?

 

I am not saying you cannot get a loan a superlative rates, but it might not be easy.

[lillaztfats81]

A Couple of Questions regarding your comments...

 

1) Will it help/matter if I place myself as a "Student"?

Technically, I graduated 3 months ago (Spring) as a BS in Computer Informations System..just not looking for a job yet (vacationing..lol)

 

2) Total truck costs ~$30k. I plan to down $15k (1/2) will that make any difference and allow me the loan?

 

3) If all fails, is it possible for my parents to co-sign for the loan BUT have the car registered under my name. (I want insurance and title registration to all be mine)

 

Thanks

[MarvBear]

A Couple of Questions regarding your comments...

 

1) Will it help/matter if I place myself as a "Student"? I dont believe "student" would be associated with having an income.

2) Total truck costs ~$30k. I plan to down $15k (1/2) will that make any difference and allow me the loan? Possible

 

3) If all fails, is it possible for my parents to co-sign for the loan BUT have the car registered under my name. (I want insurance and title registration to all be mine) Cosignors are always a possiblity, the having of title and insurance JUST in your name would be determined by any particular lender. some may some may not. YMMV. I cannot imagine why this would be an important issue though to a consumer.

 

Thanks