Credit App. for MarvBear

[jaytnt]

Your Age: 30

How long have your been on file with the CRA’s? 12 years

 

Credit Scores:

Equifax? 622

Experian? 636

TransUnion? 565

 

Your Credit:

Rate your OVER ALL credit from 1-10 (10=BEST) 6

Rate your installment Credit from 1-10: 8

Rate your revolving Credit from 1-10: 8

 

Public Records? No

If yes, please describe:

 

Auto Loans:

Do you have an open auto loan? Yes

How many auto loans are presently open? One

Are you trading in your open auto loan? Yes

Are there late pays on your CURRENT auto loan? No

If yes, please list the time frame.

Current open auto loan is financed with? Americredit

Current open auto loan payment? $260/month

Estimated amount you may be upside down in this vehicle? $2500-$3000

Rate this open auto loan from 1-10. 7 - Hard to tell, I have never missed a payment, but the rate is high (15.9%), and I am extremely upside down.

 

Credit Cards: 1

Total number of revolving accounts: 3

Percent utilization overall: 75%

 

Your Info:

Total Provable MONTHLY GROSS income: $3700

Provable via computerized paystubs or what method: paystubs

 

New or Used Vehicle: most likely used

Please describe desired vehicle: minivan

 

We just purchased a house that is not yet showing up on my credit reports, is is financed through GMAC (Homecomings)

One major need is to keep payment below $300/mo. if possible.

 

Thanks in advance for your help.

[MarvBear]

if you have never missed a payment on the current auto loan, I would rate that loan a 10!

 

That will do you well.

 

CU's in your area?

 

IMO thats the best bet.

[jaytnt]

Marvbear,

 

Thanks. There are a few CU around here, and one is affiliated through my employer. Should I go to the CU first, or find a vehicle that will work as far as price, ie. enough of a gap between price and book value to absorb my trade-in?

 

jaytnt

[MarvBear]

I would go to the Credit Union first and get myself preapproved. Doing it that way, you should be able to shop in relative confidence.