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Posted in Auto Loans
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Question By
rufus5824

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39 People Helped
Score of 670, 3 month old credit history. Chance of $10,000 auto loan?
I have been at my new job only 6 months but have no gaps of employment going back a decade at same/similar income. I've recently cleaned up my credit history and have no derogatory marks, nothing in collections. 2 open credit cards total $800 available, 0% utilization, no missed payments but I opened them in November and January. They are the only thing showing on my credit report.

I gross just under $50k and I would like my future wife to cosign to help build her credit. Her score is high 500's with $5500 student loan debt and 2 new credit cards (as new as mine) with no missed or late payments.

Our combined gross income is over $85k. I'm looking at spending about $10,000 on a new car before a $2000 down payment. What are my odds of being approved and around what rate, hopefully under 10%? The vehicles I'm looking at are 5-7 years old, 65k-80k miles (Honda Accord most likely). Thanks for the help.

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