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Auto Car Loan Advice with a Credit Score of 750
**Disclaimer** I would like to apologize for anyone who reads this because this will be a long “essay”.

Hi, I know this may seem a little absurd to be asking this with a 750 average credit score but I really do care about my credit history and score and am afraid of getting declined.

I currently have 5 credit cards with no loans. I have never taken out any loans before. The age of my oldest account/credit card is about 2 years 8 months and my newest one is about 8 months ago. I have never been delinquent before, never missed a payment nor have any foreclosures or filed for bankruptcies. One negative hit that was reported on my account was from opening a utility line about a year ago. I applied and got approved for that utility line and therefore, I have opened that utility… if that made any sense.

My FICO score is around 750 with a credit line of about $32,500 across all 5 credit cards. I have on average, about a 15% utilization across all 5 cards. I work around 2 jobs and have about a 40-50k salary BUT most of my salary is from tips so I cannot really prove most of my salary.

I am trying to apply for financing through Ford on a used car, around $15,000. I was wondering if I would get approved because of my job and short credit history and what kind of rates and monthly bills would if I get approved. I was also wondering if I should apply for a Ford financing through the dealership or through’s loan. On top of the Ford dealer and, I will be looking for loans elsewhere but does anyone have any tips on which one would be better? Does anyone have any advice for me?

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Here is my input, 

1st - Do you have any Savings?   You need to have atleast 1000 dollars in savings for emergency fund.

2nd -  Pay off the 15% utilization you carry on your Credit Cards down to 0 before you do anything.   

3rd - save up 2 to 3k for a beater car.

4th - save another 2 to 3k and sell your beater car and include the extra mony and upgrade your Car  ( repeat 4 until you get the car you want )  You don't need a Car Loan

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I am not sure of how strict Ford financing is, but with a 750 average score, I don't think too many lenders would ask for income verification. I would try to have a couple thousand dollars at hand for a down payment if needed. All you can really do is try and see what happens. Just make sure that you do all of your auto loan inquiries within a fourteen day period so that they will be scored only as one inquiry with versions of FICO. Note: you will still see all the inquiries on your reports, but they will only be scored as one. I believe that is would be better to apply for financing at the dealership once you have the car picked out, lenders are more apt to issue loans when they know exactly what the loan is for and the finance people at the dealerships know all the tricks to get someone approved as they want the sale to go through just as bad as you do.

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