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New Contributor
laurasiew
Posts: 56
Registered: ‎02-14-2011
0

Re: Auto Loan Approvals!

APPROVING BANK: Ford Motor credit
BUREAU PULLED: All 3, used Experian
CREDIT SCORE: 660 EQ, 623 EX, 647 TU
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: Used
YEAR OF VEHICLE: 2009
MAKE: Ford
MODEL: Edge SEL, CPO
MILEAGE: 42,000
RETAIL/LEASE: 21,800 (asking 22,892)
DOWN PAYMENT: 3,000
AMOUNT OF LOAN: 19,053
TERM CONTRACTED: 72
APR/LEASE RATE: 8.99
MONTHLY PAYMENT: 345
ANNUAL INCOME: 54,000

MISCELLANEOUS COMMENTARY:  Approved for Cap One Blank check for 9.41% for 72 months, waiting to hear back from Lockheed Federal Credit Union to see if they can beat it.  LFCU is def my preference.  I was really bummed that they had to use my lowest score, EX, I wonder if that's true...
I was going to wait another month until I paid down my cc's, but it just so happened that I came across a blue Edge SEL, which is quite rare, so I went ahead and pulled the trigger!  Got a good $2K below KBB, CPO, free oil changes for 2 years and they gave me a good $1000 above value on my trade.  I feel very happy about my deal!  Had my previous car for 13 yrs, so nice to finally upgrade!
Starting: TU 616 (VS) EQ 598 (FICO) EX 619 (FAKO)
Current: TU 628 (FICO) EQ 649 (FICO) EX 664 (FAKO)
Look out 700 Club, here I come!!!
New Member
shortcut
Posts: 3
Registered: ‎08-19-2011
0

Re: Auto Loan Approvals!

[ Edited ]
APPROVING BANK: Anderson Federal Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: Equifax 542 - TransUnion 502 (Equifax was 569 before all of the inquiries from Auto Lenders hit)
CUSTOMER STATE OF RESIDENCE: South Carolina
NEW/USED: Used
YEAR OF VEHICLE: 2010
MAKE: Ford
MODEL: Explorer Eddie Bauer 4WD
MILEAGE: 29,000
RETAIL/LEASE: 22,988
AMOUNT OF LOAN: $16,911
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 12.0 %
MONTHLY PAYMENT: 379
ANNUAL INCOME: 140,000
MISCELLANEOUS COMMENTARY: The dealership had me approved with Santander for 22 %, $475/M for 72 months.  I said no thank you!  I certainly did not think that I would be able to obtain an auto loan during the credit rebuilding process, but the amount of money on deposit with the credit union and my income definitely helped.

Starting Score: EQ 546 TU 496 EX 581 FAKO
Current Score: EQ 546 TU 496 EX 600 FAKO
Goal Score: EQ 700 TU EX 750 FAKO


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Valued Member
TVP125
Posts: 46
Registered: ‎06-17-2011
0

Re: Auto Loan Approvals!

[ Edited ]
APPROVING BANK: Hyundai Motor Finance
BUREAU PULLED: Equifax 
CREDIT SCORE: 560
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Hyundai
MODEL: Accent GS
MILEAGE: 9
RETAIL/LEASE: $16,200.00 + $7,000 Negative on Trade
DOWN PAYMENT: $8,000
AMOUNT OF LOAN: $19,350
TERM CONTRACTED: 72
APR/LEASE RATE: 8.2%
MONTHLY PAYMENT: 350 (Including GAP and Maintenance Plan + Extended Warranty) 
ANNUAL INCOME: $30,000
MISCELLANEOUS COMMENTARY: First time buying a car without a co-signer (only 23) But I do have 4 years of perfect auto loan history from my past 2 cars.. 4 charged off credit cards from when I was 18 is what brings my score down.  
Current Cards:
American Express Gold: NPSL
American Express TrueEarnings: $1200 CL
Apple Barclaycard : $1200 CL
Discover IT Secured: $200 CL
Capital One Platinum Secured: $200 CL

Member
sweetest_pea
Posts: 8
Registered: ‎09-04-2008
0

Re: Auto Loan Approvals!

Yayyy:
APPROVING BANK: Mazda/Chase Auto Finance
BUREAU PULLED: TU - 689 
CREDIT SCORE: MyFico TU 689
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: NEW 2013
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 30,000 - 10,000 down
TERM CONTRACTED: 60
APR/LEASE RATE: 2.9% Special APR for new vehicles
MONTHLY PAYMENT: ?? not sure yet
MISCELLANEOUS COMMENTARY:  
I was initially pre-approved with the below banks directly.  Luckily I was patient and waited a week or two that my credit score is a bit higher :smileyhappy:  I have no morgage or any auto loan on my CR, just history of credit cards with no balance at the moment and a settled collection debt.  Soooo happy got approved with a reasonable APR.  I'm sure the down amount helped a lot too.  Just waiting for the car to arrive from manufacturer to dealer since it's a 2013 model from Mazda.

1.
APPROVING BANK: Capital One
BUREAU PULLED: IDK
CREDIT SCORE: All FICO - TU 654 EQ 656 EX 610
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: NEW
RETAIL/LEASE: 30,000 - requested amount
AMOUNT OF LOAN: 27,400 - instant online approval
TERM CONTRACTED: 60
APR/LEASE RATE: 10.30%
MONTHLY PAYMENT: $566
2.
APPROVING BANK: Chase Bank
BUREAU PULLED: IDK
CREDIT SCORE: All FICO - TU 654 EQ 656 EX 610
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: NEW
RETAIL/LEASE: 34,000 - requested amount
AMOUNT OF LOAN: 15,000 - online approval
TERM CONTRACTED: 60
APR/LEASE RATE: 3.97% - current chase customer discount
MONTHLY PAYMENT: $266
ANNUAL INCOME: 45,000 (does not include annual bonuses)

Established Contributor
happy0510
Posts: 807
Registered: ‎03-07-2008
0

Re: Auto Loan Approvals!

[ Edited ]
APPROVING BANK: Toyota Motor Finance
BUREAU PULLED: All 3
CREDIT SCORE: Hubby: 716EQ/712TU/719EX Me: 651EQ/666TU/639EX
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Toyota
MODEL: Camry SE
MILEAGE: 2
RETAIL/LEASE: LEASE
DOWN PAYMENT: $0 (only first month pmt)
AMOUNT OF LOAN: $24kish (I know we will be offered to buy for 14K at the end of the lease)
TERM CONTRACTED: 36
APR/LEASE RATE: 0.9%
MONTHLY PAYMENT: 325
 
ANNUAL INCOME: 110K
 
MISCELLANEOUS COMMENTARY: We got offered $229 MO w/1999 down or $325 MO/zero down.  We wanted to use to 2K to eliminate a 2K balance on an installment of $435, so we are happy!  I have now come full circle on my credit file.  This is my first auto loan, my hubby's 7th or so.  I only needed an auto loan to have everything.  Very happy with the terms!!! And Car..Very nice car!! :smileyhappy:

Starting Score: 615
Current Score: 691
Goal Score: 750


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New Contributor
amkari
Posts: 59
Registered: ‎03-14-2012
0

Re: Auto Loan Approvals!

APPROVING BANK:  Wells Fargo
BUREAU PULLED:  EQ
CREDIT SCORE:  593
CUSTOMER STATE OF RESIDENCE:  MT
NEW/USED:  used
YEAR OF VEHICLE:   2008
MAKE:  Subaru
MODEL:  Impreza
MILEAGE:  14500
RETAIL/LEASE:  $19000
AMOUNT OF LOAN:  $14500
TERM CONTRACTED:  66 mo
APR/LEASE RATE:  13.99
MONTHLY PAYMENT: 
$309
ANNUAL INCOME:  approx $29000
MISCELLANEOUS COMMENTARY: 
Walked away - decided car wasn't worth the interest rate
 
 
 
 
APPROVING BANK:  Capital One Blank Check
BUREAU PULLED:  IDK
CREDIT SCORE:  IDK
CUSTOMER STATE OF RESIDENCE:  MT
NEW/USED:  Hopefully new
YEAR OF VEHICLE:   2011 or 2012
MAKE:  Haven't decided yet
MODEL:  Haven't decided yet
MILEAGE: 
RETAIL/LEASE: 
AMOUNT OF LOAN:  $19000
TERM CONTRACTED:   72 mo
APR/LEASE RATE:  14%
MONTHLY PAYMENT: 
$389
ANNUAL INCOME:  approx $29000
MISCELLANEOUS COMMENTARY: 
Haven't decided to use yet.  I really need a new car rather than sink another $2300 into my 2004 SportTrac.  Especially with an 80 mi round trip commute daily.  Although... 4x4 or AWD is pretty much mandatory unless I go with a 40mpg FWD commuter, fix the truck for icy winter driving, and have them both.  I want a Subaru Outback but would have to borrow most of the down from my parents to pull it off. 
 
I've improved 150 pts in the last 2 yrs...  haven't budged in 3 or 4 months though.  All I show is CCs - some derog, some current.  My previous vehicle and mortgage loans fell off about 5 yrs ago so I basically look like I've never really had credit.  Not really sure if using the Cap One is a good option but kinda feel like it's my only one right now other than using it to negotiate a dealer down on interest rate.

Starting Score: 03/31/2012 - FICO EX 599 (auto loan pull) EQ 593 TU 602)
Current Score: 10/25/2012 - EX (tenant screening) 655 - EQ (myfico.com) 641 - TU (myfico.com) 622
Goal Score: We’ll start with 650 across the board 


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New Member
fpfinancial
Posts: 9
Registered: ‎09-24-2010
0

Re: Auto Loan Approvals!

APPROVING BANK: Alliant Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: 706
CUSTOMER STATE OF RESIDENCE: Illinois
NEW/USED: NEW
YEAR OF VEHICLE: 2010
MAKE: Infiniti
MODEL: G37SX
MILEAGE: 2000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 41,000.00
TERM CONTRACTED: 60
APR/LEASE RATE: 1.99
MONTHLY PAYMENT: 718
ANNUAL INCOME: 68k
MISCELLANEOUS COMMENTARY: Very happy about this purchase, brand new car, 21, and living the life!

 


Starting Score: 706
Current Score: 706
Goal Score: 800


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New Member
fpfinancial
Posts: 9
Registered: ‎09-24-2010
0

Re: Auto Loan Approvals!

@amkari, try going to a local CU and see if they approve you for a lower rate, those rates are just not worth it bud.


Starting Score: 706
Current Score: 706
Goal Score: 800


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Member
tch0901
Posts: 6
Registered: ‎02-22-2012
0

Re: Auto Loan Approvals!

[ Edited ]
APPROVING BANK:  Local CU
BUREAU PULLED:  Equifax
CREDIT SCORE:  714 (Auto Enhanced FICO)
CUSTOMER STATE OF RESIDENCE:  GA
NEW/USED:  New
YEAR OF VEHICLE:  2012
MAKE:  Toyota
MODEL:  Camry Hybrid LE
MILEAGE:  <50
RETAIL/LEASE:  Retail
AMOUNT OF LOAN:  Approved for up to 36k, financing approx. 27k
TERM CONTRACTED: 72 months
APR/LEASE RATE:  3.29%
MONTHLY PAYMENT:  420
ANNUAL INCOME:  60k
MISCELLANEOUS COMMENTARY:  My first new car, first time in my life I've ever had a decent rate.  It is time to get out of my monster Dodge Durango, which gets 14.5 mpg.  90% of my driving is city miles.  I should average about 42 mpg on my new car.  Feeling very proud!

Starting Score: Jan 2012 – EQ 582, TU 615
Current Score: EQ 643, WM TU 704
Goal Score: 700 Club


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Frequent Contributor
ScoreBooster
Posts: 463
Registered: ‎05-30-2008
0

Re: Auto Loan Approvals!

Date Discharged: 01/06/2011
Lender: NuVision FCU (through Fleet Financial via lendingtree.com)
Date Applied For: 02/28/2012
Approval Amount: $21,560
Interest Rate: 9.32%
Term: 72 months

Loan was Refi. Previous loan was 7 months old at 18.24%.


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