Audi Financial Credit Tiers

hondo522 · ‎01-05-2013

Anyone know at what scores the Audi Financial credit tiers break at? I'm looking buying a new Audi and am hoping that my score might be enought to a low if not the lowest rate. Current score is 697 and am planning on a $20,000 down payment from trading in a car. I've read that that might be enough for Tier A, but was hoping someone may have more insight.

hondo522 · ‎01-06-2013

Just to add more context, the car we are looking at is a Q7 at a cost of $59,000. Our income is $170,000.

ds3 · ‎01-06-2013

I just bought an A4 2 weeks ago. I got tier 3 with TU at 646. The finance guy said 680 was tier 2, and 710+ was typically tier 1. It's VW Credit, and he said the best rate he's seen in awhile was 2.4%. Even at tier 3, they gave me 6.4%, which was way better than my CU could do. In your situation with that much down, you should be in great shape. I applied online on Audi's website and was approved within 15 minutes.

MovingForward_2012 · ‎01-06-2013

After auto enhancing you 697 might break into tier 1 IF you have good auto loan history established on your credit report. My credit score was 703 before auto enhancing. After it was 724.

Last App: 4/5/13 Gardening until July 2014

nolimits · ‎01-07-2013

Not sure the answer to your original question but I have an alternate. I'm a member of PenFed and recently got an email about 0.49% interest rates! No that was not a typo, less than 1%!!!

Not sure score/credit requirements. I've heard they are more stringent than others. Last time I applied (and was denied) was 2-3 years back and I was less than 600 on my scores.

Anyone can become a PenFed member by joining Voices for American Troops.

Might be worth a shot. Plus I see emails for auto and home rates very,very low all the time.

It is only the poor who pay cash, and that not from virtue, but because they are refused credit. - Anatole France

FICO Scores (1/6/13): EX 642 and TU 670

QueenBeeOC · ‎05-23-2013

+1

Southwest: $9k - Discover It $1,900 - Amazon $2,900 - CAP1 - $1,500 - QuickSilver (FKA Orchard) - $900 - J. Crew $1K - LOFT $1K - Nordstroms $1K - Amex BCE - $3,000
Scores: Credit Karma 687, Credit Sesame 660- EQ 643 - EX 665 (from Amex)- TQ 655 Lender Pull: 693

Dustink · ‎05-23-2013

You can use that down payment as a negotiating tool to push you into tier 1. Somebody with a FICO around 700 and a down payment of $20k is a lower risk than somebody with a FICO around 720 and no down payment. If the sales team wants to close the deal, they can get you tier 1 with $20k down.

Too many INQs & low AAoA so I'm off to tend the Garden. Age:23

$17k $8.5K Closed $19k $6.5k $24.2k Closed $5k Closed $8.5k Closed @2.49%

hondo522 · ‎05-23-2013

Just as an update, we were able to get Tier 1.

JRomulus · ‎05-23-2013

Congrats OP!

Also for the record,

in March 2013 I had Transunion and Equifax regular FICO scores of 724 and 714 respectively, which (for whatevr reason) translated into an Auto Fico of only 697 (he showed me) but I got a Tier 1 rate for a $67,000 loan on a loaded A6. I was a previous Audi Finance customer for last 3 years, perfect payment record and income of $180K. I had heard they show great loyalty to previous customers. Sorry I wasted the hard pulls with USAA, who didn't give me a quick decision, but do not believe they would have beat the 3.9% APR for 72 months by much if at all. Leased the 2010 the last time, bought the 2013 this time, didn't want to worry about going over milage and plan on keeping it a long time.

Also, only put down $4000, which didn't even cover the 8.25% state sales tax.