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.

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.

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.

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.

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.