I can not say whether or not you will be approved for the loan but I can tell you that it will be based on your credit score, on your income and on your debt to income ratio. I can also tell you that we are experiencing a credit crunch right now that is drastically affecting the housing market and the stock exchange. Yes, you absolutely need to show proof of income. 700 is a respectable credit score but just yesterday I consulted with someone who had a 650 credit score, is a home owner with good income and was turned down for refinancing because that credit score, which is also respectable, is considered sub prime in todays market.

With that said, there are plenty of financing opportunities other than sallie mae for automobile financing, if you’re willing to pay what ever interest rate they ask. I would suggest that you go to a car dealer that finds financing for you. Good luck and don’t drive over 90!