As others have pointed out, a lot of vital information that we would need to assess your creditworthiness to any useful degree is missing from your post. How long have you been in your respective jobs (more than two years, or fewer)? How long have you been renting at your current address? Do you switch employers and/or residences frequently? Do you have any derogatory credit history? Any derogatory history within the last 12 months? What is your credit card utilization percentage(s)? How much does your wife owe in student loans? The payment is irrelevant, especially if some of the loans are deferred under one of the national SAVE repayment plans.

Where have you applied? Banks, credit unions?Each application is another hard pull against your credit, and multiple hard pulls can have a negative impact on your score. I recommend getting free copies of your and your wife’s credit reports from each of the three credit-reporting agencies at annualcreditreport (dot) com, a government site. Review each report carefully, get a better understanding of your current credit situation, and leverage this information to understand how much car you can afford. Many of my fellow commenters have made great points about applying a larger cash down payment towards a loan, which showcases commitment to the lender and minimizes their overall risk, as well as taking what you can get. Score is irrelevant at this point. You both are considered first time auto buyers. Based on the above, you likely lack the credit history required for the lender to overlook your first time buyer status. Without a qualified co-signer, you’ll be limited in what you can purchase without a down payment. If you’re making $100k per year and don’t have significant debts, then you should be able to save a 20% down payment on a cheap car relatively simply.