What do loan officers look for on a auto loan?

FACTS-


Credit Score 650-670 -credit stolen and agencies working on repairing it


Income- 36K+


Inquires-10 and that's due to starting up business!!


Need- auto loan for 10+ for new car for my bus.


Debt to Income- I make 3000+ a month my debt is only 1000 a month.


Credit cards- i have 4 highest balance 750


Auto loan current- 3000


Credit length 1yr 5 months due to a credit card. I know 30% rule so i'm getting them down to that first and then by october hoping to buy a newly used vehicle for my business.





Total debt currently 4750 that's it.


Can i purchase a car with these facts?

What do loan officers look for on a auto loan?
I went to my credit union and sat down with a loan officer to discuss my chances and how it worked. She was very nice and explained everything to me.





She basically said "You can get an auto loan with bad credit, it's just you'll pay higher interest rates"





If you pay down some debts, the better your rate could be.





So to answer your question, your scores are way better than mine and I can get a car if I need one.





My suggestion would be to join a credit union so that you have financing in place without having to haggle with a dealership.








Good luck!