I have terrible credit, credit karma says 520, which I caused by not paying my student loans while in an outpatient program. I’ve been paying ~$300-$500/mo on the student loan every month since I got out of the outpatient program so it’s been in good standing for a few months and there’s ~10k left. I have a great job (with excellent job security) which pays approximately 105k yearly (+- $5k with OT) and would like to buy a used 2017 CPO car from a dealership for ~30k
I could put 15k down on the loan and pay off the loan in 36 or 48 months, whichever is better for the APR and still have 3 months salary saved as an emergency after down payment. My expenses are low enough that I’m currently able to save about 40% of my after tax income.
Am I delusional that I could even get a car loan with such poor credit?
TL;DR
520 credit
$105k salary
$10k student loan in good standing
$15k down payment
Pay off loan in 36 or 48 months.
I just need to know if I could even qualify for a loan in the first place before I even step on the dealers lot...
Thanks everyone
Submitted August 24, 2018 at 01:58AM by thehyd3 https://ift.tt/2MyWQ7K
