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Established Member
JJ2005
Posts: 16
Registered: ‎01-11-2012
0

Re: Auto Loan Approvals!

 

 

 

APPROVING BANK: Capital One Auto Finance 
BUREAU PULLED:EX
CREDIT SCORE:570 (Dealer Pulled 598 EQ) but I didn't want him to run me in the ground.
CUSTOMER STATE OF RESIDENCE:Ga
NEW/USED:CPO
YEAR OF VEHICLE:2009
MAKE:Cadillac 
MODEL:CTS
MILEAGE:22,090
RETAIL/LEASE:Retail
AMOUNT OF LOAN:23986 (Approved for up to 25990)
TERM CONTRACTED:72mo
APR/LEASE RATE:16.5%
ANNUAL INCOME:42,000
MISCELLANEOUS COMMENTARY: CH 13 BK Discharged Feb 2nd...I already had a dispute in with the CRA so my reports were updated quickly.... Pulled the trigger and Cap 1 approved me.. I was going to allow te dealer to shop me, but I'm already planning to refi with USAA or the local credit union in 6 months.. 
New Visitor
KeyWestSunset
Posts: 1
Registered: ‎02-08-2012
0

Re: Auto Loan Approvals!

APPROVING BANK: America Honda
BUREAU PULLED: TransUnion
CREDIT SCORE:575
CUSTOMER STATE OF RESIDENCE: MA
NEW/USED:  Used
YEAR OF VEHICLE:2009
MAKE: Honda
MODEL: Odyssey
MILEAGE: 23,500
RETAIL/LEASE:Retail
AMOUNT OF LOAN:$20,000
TERM CONTRACTED:60
APR/LEASE RATE: 7.25
ANNUAL INCOME: $120,000
MISCELLANEOUS COMMENTARY: Have two existing loans with Honda that were in good standing.    Originally offered 14% rate, talked down to 7.25% by agreeing to extended warranty (which is good idea given the history of the Odyssey Transmission)
New Member
Dustandshadow13
Posts: 3
Registered: ‎01-25-2011
0

Re: Auto Loan Approvals!

APPROVING BANK: Nissan Motor Acceptance
BUREAU PULLED: TU
CREDIT SCORE: 644
CUSTOMER STATE OF RESIDENCE: PA
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Nissan
MODEL: Altima
MILEAGE: 18
RETAIL/LEASE:Retail
AMOUNT OF LOAN: $30,000
TERM CONTRACTED: 72
APR/LEASE RATE: 2.9%
MONTHLY PAYMENT: $433
ANNUAL INCOME: $45,000
MISCELLANEOUS COMMENTARY: Had about $2000 of my old car tied up in there as well. It was due for insoection etc and never going to pass. I was told I could have had the 1.9% if the payment was a bit lower. (i.e. ~350 before warranty etc. instead of ~400 as it is)

 
Contributor
cahiatt
Posts: 79
Registered: ‎05-04-2011
0

Re: Auto Loan Approvals!

APPROVING BANK: PenFed
BUREAU PULLED: UNK
CREDIT SCORE: UNK
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: Used YEAR OF VEHICLE: 2010 (refi)
MAKE: Mazda
MODEL: 5
MILEAGE: 22400
RETAIL/LEASE:Refi
AMOUNT OF LOAN: $13487
TERM CONTRACTED: 36
APR/LEASE RATE: 1.99%
MONTHLY PAYMENT: $388
ANNUAL INCOME: $84,000
MISCELLANEOUS COMMENTARY: Not sure yet what bureau pulled. Will see later when an alert hits. FICO from EQ was 701 from mortgage pull in December. Imagine it was in that range.



Starting Score: 594 (Dec 10, 2010)
Score: 758 (March, 2013
Goal Score: 730 on all (by end of 2012)

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New Member
coachb1976
Posts: 4
Registered: ‎02-08-2012
0

Re: Auto Loan Approvals!

APPROVING BANK: Capital One Auto Finance (Blank Check)
BUREAU PULLED: TU
CREDIT SCORE: 611 me / 604 wife
CUSTOMER STATE OF RESIDENCE: WI
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE:Chrysler
MODEL: Town and Country Touring-L
MILEAGE: 134
RETAIL/LEASE:Retail
AMOUNT OF LOAN: $28870
TERM CONTRACTED: 72
APR/LEASE RATE: 7.1% YUCK!!!
MONTHLY PAYMENT:$457
ANNUAL INCOME: $125k combined
MISCELLANEOUS COMMENTARY: We were in a pinch and needed to get qualified. Wanted to lease, but couldn't get approved for one. The rate is high, but hopefully we'll refi in 12 months or so. We had an issue with our reporting that dropped us from 640s in October and it has never rebounded fully, despite being deleted. Van is great! Pick it up Monday!!!! Kids are going to love the DVD's!!!
New Member
Mo3032
Posts: 1
Registered: ‎02-11-2012
0

Re: Auto Loan Approvals!

[ Edited ]

APPROVING BANK: KALSEE Credit Union (Southwest Michigan)

BUREAU PULLED: Transuion

CREDIT SCORE: 683 Primary (husband) 528 (me)

CUSTOMER STATE OF RESIDENCE: MI

NEW/USED: Used

YEAR OF VEHICLE: 2011

MAKE: Chevy

MODEL: Impala LT

MILEAGE: 38,xxx

RETAIL/LEASE:

AMOUNT OF LOAN: 16900 (with tax,title, fees and gap insurance)

TERM CONTRACTED: 60

APR/LEASE RATE: 4.75%

MONTHLY PAYMENT: $317

ANNUAL INCOME: $72,000 combined

MISCELLANEOUS COMMENTARY: ive been a lurker on this site for awhile and always appreciative of the information it has been very helpful in my car shopping experience. Very pleased with the interest rate we got onthis vehicIe my previos inrest rate was 22.99%. I was approved by myself for a capital one blank check up to $21,600 for 60 months but the interest rates was 16.28% yikes! No need to use that.

 

FYI for those considering capital one blank check We applied for capital one before and were not approved, ive had a secured credit card with them now for 4 months and I think that factored into the approval this time. I recieved an email saying my application was being reviwed and recieved the confirmation email 2 days later.

Established Member
Shentographer
Posts: 19
Registered: ‎02-17-2010
0

Re: Auto Loan Approvals!

APPROVING BANK: BMW Finance
BUREAU PULLED: EX/EQ (Dealer said they use the highest)
CREDIT SCORE: 652 (Cosigner-5?? but previous auto financing)
CUSTOMER STATE OF RESIDENCE: SC - Charleston
NEW/USED: USED
YEAR OF VEHICLE: 2011
MAKE: BMW
MODEL: 535I
PACKAGES: PREMIUM 1&2/CONVIENANCE PACKAGE/SPORTS PACKAGE - AUTO,DYNAMIC HANDLING PACKAGE/4ZONE CLIMATE CONTROL
MILEAGE: 24500
RETAIL/LEASE:Retail
LISTED PRICE: $52500
AMOUNT OF LOAN: $43299
TERM CONTRACTED: 72
APR/LEASE RATE: 5.8%
MONTHLY PAYMENT:$636 & CAR INSURANCE:$184 PER MONTH W/GAP
DOWN PAYMENT: $7000
TRADE: $3000

ANNUAL INCOME: $61,000 + (12,000 BONUS) Cosigner combined income
MISCELLANEOUS COMMENTARY: It will be delivered to me on Monday as they pick up my trade (2005 Dodge Neon). They have requested proof of income and have agreed to place new tires on the car assumptively due to the high mileage. I will be adding the extended tire protection plan and warranty. It is white with black leather which was my color preference. I initially went to my local dealer to purchase a brand new black on black one with all the same specs minus the Dynamic Handling Package and 4 zone climate. They wanted 62k brought down to 57k. They had trouble trying to get me financed alone so my grandmama cosigned. 45 minutes later I left with a "callback" = a callback informing me BMWF would consider my prospective purchase with proof of income then we play ball again on Monday. I went home with my tail between my legs due to saving and waiting for this moment for 2 years. I went online and applied with Capital One to see if I could get preapproved. I was advised a decision would be made in 24 hours. Frustration overload now. I've been searching everyday and referenced back to a car I liked in GA. I called him, told him my situation then allowed him to try to get me financed. This car is 10K cheaper to start then I have 10k. He called me back with an approval with proof of income from me and my cosigner. I said let's do it. I'm sooo excited!!! It seems unreal to me :smileyvery-happy:


Starting Score: 552
Current Score: 645
Goal Score: 750


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Frequent Contributor
Mike360
Posts: 435
Registered: ‎03-19-2010
0

Re: Auto Loan Approvals!

[ Edited ]

Congrats!! I may be out of bounds by saying this but i hope your income supports it. From reading your post it seems like BMW wouldn't finance you based on your income alone so you need a co-signer. I could be wrong so excuse me if i am. Cool grandmama you have that co-sign'ed tho cause mine wouldn't do it for me 6 years ago on my first ever loan. $800+ is ALOT to tie up monthly for car+insurance. I think places recommend no more then 25% of your monthly gross for a car note if i'm correct but i could be wrong..

 

But nice ride and good rates.

~~In my wallet: Best Buy $10000, Dell Preferred $5500, Discover IT $5500, Chase Freedom $3000, Barclays NFL Extra Points $3300, Sears $2800, Bill Me Later $3000, CapOne Platinum $2000, Kohls $1500, Target $200, Amazon.com Rewards Visa $2300
Frequent Contributor
Student_Loans_Kill
Posts: 297
Registered: ‎02-12-2012
0

Re: Auto Loan Approvals!

[ Edited ]

Just applied and was given a message:

 

We’ve received your Capital One Auto Finance loan application. We are currently reviewing your information and we will email or call you within three business days to provide you with a status update. 

We apologize for the delay and are committed to providing you with a hassle-free loan experience. Thank you for considering us for your auto loan needs! 

 

then 3 minutes  later:

Thank you for applying for a Capital One Auto Finance® loan. After reviewing your information, we are unable to approve your application at this time. We will mail you a letter within 7-10 business days that explains the reason for our decision. 

Please note: This is the most recent information available to our associates. For your privacy, phone representatives do not have access to decline reasons. 

 

Annual Income:$120,000-$150,000

No Mortgage, only student loans recently consolidated through Willam D Ford. No credit Card Debt (although $453 was posted, I pay my balance monthly carry nothing over to the next month)


Starting Score: 656
Current Score: 678 TU 08, 665 EQ MyFico, 698 EX PSECU
Goal Score: 7OO needed for Mortgage application


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Member
rachael1
Posts: 7
Registered: ‎10-08-2011
0

Re: Auto Loan Approvals!

APPROVING BANK:Access of Louisiana Credit Union
BUREAU PULLED:Equifax
CREDIT SCORE:624
CUSTOMER STATE OF RESIDENCE:Louisiana
NEW/USED:New
YEAR OF VEHICLE:
2012
MAKE:Hyundai
MODEL:Sonata 2.0 Turbo black/black
MILEAGE:
15
RETAIL/LEASE:22,564 Plus ttl
AMOUNT OF LOAN:14,000
TERM CONTRACTED:60
APR/LEASE RATE:6.3%
MONTHLY PAYMENT:273.51
ANNUAL INCOME:
MISCELLANEOUS COMMENTARY:
put down almost $10,000 plus $700 for my trade in. financed the rest. (14,000). Was really shocked to get approved for 6.3% with low scores. i love my new car!!!

Starting Score: 10-11 550
Current Score: 1-12 599
Goal Score: 700


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