Should my auto loan get approved?
Eric Humphrey Asked: Should my auto loan get approved?
On Saturday I drove home a used 2010 Infiniti G37 that I purchased from a dealership.After trading in my car, and putting $15K as the down payment, I will be financing $18,623.28. The lowest financing rate the dealership could find for me was 4.9% with SunTrust bank, so I went with that.So I currently have an Installment Sales Contract with the dealership where I must return the car if the loan is denied.
Here is my background info:
Age: 24
Occupation: Software Engineer
Gross Salary: $68,500
Years at Job: 1 yr. 11 months
Current Credit Score: 837
Current Mortgage Payment: $1,328 (I've owned the house for 1 year)
Should I be worried that this loan will get denied by the bank?I'm hoping that my near perfect credit score and my down payment of $15,000 should help get it approved.What do you think?
Categories: Loan Questions Tags: Eric Humphrey Asked, Installment Sales Contract, OK