Ok, here's the scenario. I currently owe about ~6,600 on my SUV. The plan is to sell it to A) Lower my monthly payment B) get something with better mileage.
I want to just go to a dealer, have them take my car on trade (aka pay it off) and get something else.
I applied for the Capital One Auto Loan (think Eloan) for $10,000 and was denied.
I have other large CC debt, so I was figuring the debt-to-income is why I did not get the loan. However, they obviously do not take into account that the current monthly payment would theoretically be gone (and the new one will be less $). How can I get around this?