Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
jdoublep

0 Contributions
0 People Helped
Score of 775 - I would like to buy a 25-30k car next year, with up to 15k down.
I am not sure what I need to get approved for a small loan. I have a score of 775, but my credit line is only 4000, my history is poor, my number of accounts, low, derogatory marks and payment histories are As. I have a down payment of around 10-15k, but only make 1702 a month. I would like to keep these payments as low as possible. Would increasing my credit line with a new card or asking for an increase help me get a better loan and lower monthly payments?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
497 Contributions
1203 People Helped
Most Helpful Response

Helpful to 2 out of 2 people

A score of 775 is considered excellent in the eyes of lenders. With that score, you shouldn't have trouble getting approved for an auto loan but if you're concerned that you wont get approved then consider adding a co-signer or keep your current credit card balances as low as possible (but not at $0) to show that you are actively using your credit responsibly, pay your bills on time 100% of the time, and check all of your credit reports for errors and accuracy.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.