Snowmobile loan..would they approve me?

J

Josh

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I'm looking into getting a new snowmobile. The price is $6,000 and I'm trading in my old snowmobile + cash for down payment, but will still need to finance $3,000. I'm 19 years of age and have a credit score of 710, my debt to income is 20%. I don't want to apply for a loan solo and get denied and possibly hurt my score a little bit.Do you think I would get accepted for a loan? Should I go to my bank for the loan or the dealership?
 
if you have a good credit history, have paid all your bills, can verify your income and are currently employed there is no reason you shouldn't get financed.

I've recently been through the whole financing process for equipment for my landscaping business and you need to shop around for the best rate, whether it be at the bank or at the dealer.

My credit score was very good according to the banks and yet noone wanted to finance me even for 6K mainly because there was no credit history and i couldn't verify my income

you should be ok if you have a good credit history and have a job if you're only financing 3,000

also another option to pursue if you get denied is in house financing, if the dealer you go to is large enough they might finance you within their own company instead of going through the banks, thats how i ended up getting my skid steer
 
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