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New Visitor
Schrodinger
Posts: 1
Registered: ‎07-01-2014
0

Audi Financial Services - need your opinion!

Hello guys!

 

I'm a newbie here but I've been reading the forums for quite some time now.

I am hoping someone might be able to help with my predicament here and perhaps individuals that have tried and succeeded to do so with Audi Financial Services.

 

Here are some details on the vehicle I would like - Audi A3 Sedan, Premium Plus, $35,600USD. I have a previous car but I am not going to be trading it in - my father bought it in 2007 brand new and it is under his name. 

 

My credit score is as follows: EQ 675, TU 686, EX 665.

 

I have a stable job that has a wonderful salary of about $96,000, I live with my significant other - so I do not have to pay any rent.

Only two charge cards, one of which has a 120 day late payment in January of 2008 (due to an illness abroad, I did not return to the states for about 4 months and I actually forgot about it). I am currently trying to send out GW letters to have them possibly remove it, but I am not having any luck.. I am currently waiting on January 2015 to roll around so my delinquencies can fall off...

 

Anyway, with my "past delinquency" that has happened about 6 1/2 years ago, is there any possibility that I would be approved through Audi Financial Services this year? 

 

Many thanks in advance.

July 2014 FICO® ~ 686 TU, 675 EQ, 665 EX
Valued Contributor
Remember0
Posts: 1,288
Registered: ‎02-12-2014
0

Re: Audi Financial Services - need your opinion!

You'll have no issues at AFS. But are you looking to lease? If you're buying, you can arrange for backup financing just in case AFS doesn't approve at a low APR. Also I'm not entirely clear if you wanted to buy now or buy later after that 120 day late baddie fell off.

 

As a backup, I'd maybe apply to DCU before going to the dealer. If they pull a 675 EQ FICO, you should be able to get a loan through them at 1.24% for 65 months (with direct deposit, 1.74% without). Any down payment available?

 

In general, I have no doubt you'll get approved by Audi even without the down payment. But I would be careful and not accept an APR greater than ~6% at the dealer. With a 680+ FICO on one bureau a dealer should be able to get you in at lower.

As I am very busy with work these days, I am participating in the forums less than I would like to. Please feel free to email me directly remembermyfico //at// gmail /dot/ com if you would like me to respond to a specific question you have.
Regular Contributor
timothylee
Posts: 442
Registered: ‎07-24-2014
0

Re: Audi Financial Services - need your opinion!

Audi pulls TransUnion and are going to look at your TU score.

 

Current Scores:
TransUnion CK: 563 | Experian CreditSesame: 619 | Equifax Quizzle: 561

Current Credit Cards: Merrick Bank Secured, BOA Cash Rewards
Regular Contributor
iCoop
Posts: 173
Registered: ‎05-06-2012
0

Re: Audi Financial Services - need your opinion!

OP you'll be A ok. I used AFS when I purchase my 2013 Audi S4 at around $56,000. My credit scores were hovering around 690 - 720 and they approved me for the full amount at 3.4%. I probably could have got them to go lower than that if I would have acted like I was going to walk out. I was in a similar situation as you. I have two credit cards with 180+ lates that I screwed up during college and don't fall off until late 2016.



Starting Score: EQ 675 | TU 688 | EX 702
Current Score: EQ 734 | TU 738 | EX 719
Goal Score: 750 (Across All 3)


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