Hi everyone!
Shopping for cars right now. Moved to the US few years ago, only started credit less than a year from today and I've been super careful - never missed payments, slowly increasing the credit lines, not too many hard inquiries, which gives me a score of around 700 by different agencies.
Started applying for loans at major banks and Credit Unions. Was denied by most based on "limited credit experience". However, two CU's pre-approved, but since I don't have 2 yrs of tax returnsor paystubs (self-employed) - they ended up denying. My bank statements will show an income of $35k before taxes.
Looks like I should expect a bigger APR and agreeing to whatever the dealership has to offer?
I got my eyes set on a specific used model and make, the prices are within $12k-$13k ballpark.
I might do $2k down, too. The longer term, the better.
What are my chances and what APR I should be expecting - if possible to predict?
Thanks~