r/kia • u/Persistent_MD • 5d ago

0% APR for 48 months

How likely is someone with a 760+ credit score but with 50% credit utilization for past two months to get approved?

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u/rjegonz 5d ago

There's way more factors that go into approving a loan however, that said, banks are typically more lenient with auto loans i've found.

They'd care more about things like late payments or negative remarks than credit utilization.

Most auto dealerships will also run for multiple lenders at the same time as well.

All you can do is try.

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u/Persistent_MD 5d ago

Thank you so much for the detailed response. If I have no late payments or debts/loans and just a short credit history (1 year) with 60K annual income, do my chances look good for a 0% apr approval? I am mostly concerned about short credit history and past two months of high credit utilization.

2

u/rjegonz 5d ago

I'd say you have a reasonable chance.

Finance managers at dealerships are very motivated to find a solution for you.

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u/Persistent_MD 5d ago

Thank you so much for the guidance :)

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u/p0rkjello 5d ago

Is that an active offer. I have only seen as low as 3.99% for 48 months

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u/Persistent_MD 5d ago

Yup, it is on some trims at Kia

1

u/AverageJoeJohnSmith 2d ago

You can get 72/mos even at 3.49 right now

1

u/Key-Lengthiness-859 4d ago

What’s your credit amount? Are you utilizing half of $2,000 or half of $50,000?

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u/Persistent_MD 4d ago

Just utilizing half of $4000 for the past two months.

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u/Key-Lengthiness-859 4d ago

I wouldn’t be that concerned getting denied then. Mostly matter what you credit score is and 760 is def high enough.

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u/Persistent_MD 4d ago

Thank you so much. That is reassuring 🙏

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u/Nadev 5d ago

You could always talk to your bank and credit unions to see what they would offer you.