Iam trying to get an auto loan with a credit union with an interest rate of 5.99% however i just che

credit score and my transunion score is 721 however my equifax which i was told most car lenders use is 661. My debt to income ratio is around 43% and they require a 0-45% to get the 5.99% rate. I am hesitant to apply because i don't want to be denied the 5.99% but i desperately need a car. How can i convince the bank to give me a 5.99% rate?

Iam trying to get an auto loan with a credit union with an interest rate of 5.99% however i just checked my?

Auto finance is what I do for a living and different lenders use different bureaus depending on State and Zip code.

With your scores you will not have to prove income so simply adjust what you make a month before taxes to be where you need to be.

Iam trying to get an auto loan with a credit union with an interest rate of 5.99% however i just checked my?

If you are going to use debt to purchase the car then my recommendation would be to try and get the debt to credit ration down a bit, maybe to around 30%. That way you would feel more comfortable. And it might give you time for the Equifax FICO score to rise.

An even better option (in my opinion) is to not use financing at all. I would save up my own cash and purchase the vehicle outright. It may not be the one you want, but you won't have any car payments. With the payments I would be making to the car I would save that money towards another, better car maybe 3-4 years in the future.

Iam trying to get an auto loan with a credit union with an interest rate of 5.99% however i just checked my?

Just ask they probably will

Iam trying to get an auto loan with a credit union with an interest rate of 5.99% however i just checked my?

is there any way you can hold off on buying a car and get your debt down to about 30%

you may still have a good chance of getting approved but you could go to your credit union and speak with the loan officer and tell him/her what you have on your report before filling out the application

the loan officer will be able to tell you rather or not the possibility of getting approved

Iam trying to get an auto loan with a credit union with an interest rate of 5.99% however i just checked my?

I agree with Jeremy. Get a cash car. It'll get better gas mileage if it's not dragging a payment book behind it.

You'll never get ahead financially making payments.

No payments = cash in the bank.

Iam trying to get an auto loan with a credit union with an interest rate of 5.99% however i just checked my?

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