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Established Member
pen_nyc
Posts: 17
Registered: ‎01-14-2009
0

Alliant Credit Union

Hi all.

 

Does anyone know up to how much Alliant Credit Union will loan on a used car? 

 

I'm looking at a 2006 Lexus IS350 for $25K. Have $4K for a down payment.  I joined Alliant a little over a month ago.

 

Thanks.

-P.

 

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Moderator Emerita
LilMirth
Posts: 3,091
Registered: ‎08-09-2008
0

Re: Alliant Credit Union

I think that might be a question for Alliant, directly.


pen_nyc wrote:

Hi all.

 

Does anyone know up to how much Alliant Credit Union will loan on a used car? 

 

I'm looking at a 2006 Lexus IS350 for $25K. Have $4K for a down payment.  I joined Alliant a little over a month ago.

 

Thanks.

-P.

 


 

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Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
0

Re: Alliant Credit Union

When last you were here we walked you through opening an Alliant account.

 

You were pre-approved for $20K.

 

I am sure if you simply called them and spoke to a loan officer you could extend the amount to the amount you need.

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Established Member
pen_nyc
Posts: 17
Registered: ‎01-14-2009
0

Re: Alliant Credit Union

Thanks for the reply USMC.

 

I called them this morning and they told me that the max is based on  the NADA value of the car which is perfect.

 

And yes, when I did open my Alliant account (thanks to you btw!) they did "pre-approve" me for both an auto loan for $ 20K and a visa for $ 7500. I did apply for the Visa and was given a $ 500 credit line only. The rep told me it was because I had not history with them. Since then I've been depositing $ 250 a week into the saving account and to get pad that a bit more then apply for an auto loan. 

 

Thanks again for all your help!

 

-P.

 

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Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
0

Re: Alliant Credit Union


pen_nyc wrote:

Thanks for the reply USMC.

 

I called them this morning and they told me that the max is based on  the NADA value of the car which is perfect.

 

And yes, when I did open my Alliant account (thanks to you btw!) they did "pre-approve" me for both an auto loan for $ 20K and a visa for $ 7500. I did apply for the Visa and was given a $ 500 credit line only. The rep told me it was because I had not history with them. Since then I've been depositing $ 250 a week into the saving account and to get pad that a bit more then apply for an auto loan. 

 

Thanks again for all your help!

 

-P.

 


So.....are you getting approved?
Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Established Member
pen_nyc
Posts: 17
Registered: ‎01-14-2009
0

Re: Alliant Credit Union

Still waiting for a reply back.

 

They told me they need to call me back with an answer.

 

Keeping my fingers crossed!

 

-P.

 

 

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Established Member
pen_nyc
Posts: 17
Registered: ‎01-14-2009
0

Re: Alliant Credit Union

Well, got denied.

 

Apparently I don't have enough credit history.

 

If I get a cosigner who will also join Alliant I should get approved but as of right now its a no.

 

Question - a potential cosigner would be my step father but he is retired. Does that matter?

 

-P.

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Frequent Contributor
74king
Posts: 403
Registered: ‎04-08-2009
0

Re: Alliant Credit Union


LilMirth wrote:

I think that might be a question for Alliant, directly.


I'll second that...:smileywink:
 
King
Equifax 787, TransUnion 793, Experian ? FAKO--> Who Cares
Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
0

Re: Alliant Credit Union

Well, it was a long shot.

 

I am sorry I could not help you get done.

We had a lot of non positive issues involved to overcome.

And to be honest I have not been approved for a car payment through them

We all learned a lot.


You are unfortunately back in the same place you were when you started.


I would keep saving....a lot.


Did you try to get them to make a counter offer? If you need  a car that bad you may be able to get approval on a cheaper car.

sometimes you cannot get what you want, but can get what you need.

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Established Member
pen_nyc
Posts: 17
Registered: ‎01-14-2009
0

Re: Alliant Credit Union

No need to apologize. I definitely appreciated your help in getting me into the CU to begin with. I did briefly consider taking my money out of the savings account (about $1K now with the lates transfer done yesterday) but will hold off for now.

 

I would say that I am not where I started. I have a relationship now with a credit union that maybe one day will help me in getting a mortgage and I have a new trade line via my first unsecured credit card in loooong time.

 

Next step is to swallow some pride and get a cosigner. Not something I wanted to do but sometimes one needs to make sacrifices to get what they want.

 

-P.

 

 

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