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Sixty-ninety day late pays are the kiss of death on a credit report. Used car financing is ironically harder to get than new car financing - more risk for the bank on a used car. The denial less than a year ago also hurts you Actually with you putting 33% down I'm surprised you were denied. What is the market value of the vehicle your looking at?

Do you know your FICO score? I'd bet your midscore is below 640. What interest rate are you being quoted? Capital One "No Hassle" is an excellent source for car loans, they do prime and subprime in the same application. Interest rates, even on subprime are good.

To answer your question the reason one approves and the other denies is they have different underwriting requirements. The bank that approved as easier or "looser" terms for credit underwriting. Almost all auto loan underwriting is computerized.

FWIW - your income has nothing to do with having credit extended to you (up to a point).
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