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Auto Loan Approvals!

Established Member

Re: Auto Loan Approvals!

APPROVING BANK: Nissan Motor Acceptance Corp (NMAC)
BUREAU PULLED: EQ
CREDIT SCORE: 670
CUSTOMER STATE OF RESIDENCE: VA
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Infiniti
MODEL: G25X
MILEAGE: 0
RETAIL/LEASE: Lease
AMOUNT OF LOAN:
TERM CONTRACTED: 39 mos
APR/LEASE RATE: ?
MONTHLY PAYMENT: $315.98
ANNUAL INCOME: $65k
MISCELLANEOUS COMMENTARY: I had been looking at Nissan and Infiniti since they're supposed to be very BK friendly.  My CH13 BK was discharged on 2/29/12 and was approved for the Infiniti lease at Tier 1 rates 21 days after discharge.  The finance director fought hard w/the bank to get tier 1 rather than tier 2; the bank was focusing on the Bk discarge date but he was pushing the file date, 9/2008.  We won!  Was at the dealer for about 4 hours and drove the car home.
10/25/11: TU 605, EQ 655, EX ?
03/13/12: TU 626, EQ 670, EX ?
Message 1051 of 3,883
Highlighted
Valued Member

Re: Auto Loan Approvals!

APPROVING BANK:  BB&T
BUREAU PULLED:  EQUIFAX
CREDIT SCORE:  690
CUSTOMER STATE OF RESIDENCE:  TN
NEW/USED:  USED
YEAR OF VEHICLE:  2009
MAKE:  HYUNDAI
MODEL:  SONATA GLS
MILEAGE:  42,047
RETAIL/LEASE:  RETAIL
AMOUNT OF LOAN:  $13,916 W/GAP & WARRANTY UPRGRADE
TERM CONTRACTED:  60
APR/LEASE RATE:  3.94%
MONTHLY PAYMENT: $255
ANNUAL INCOME:  33,400
MISCELLANEOUS COMMENTARY:  First time buyer so happy I didn't need a cosigner. With two 5yo COs and their corresponding CAs reporting was also happy with the rate I got.  BTW, one collection is settled and the other I've been paying on for a year. I plan to make extra payments and pay this off as soon as I can.

Starting Score: 656
Current Score: 698
Goal Score: 700s


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Message 1052 of 3,883
Established Member

Re: Auto Loan Approvals!

APPROVING BANK: bashas credit union
BUREAU PULLED: experian
CREDIT SCORE: 619
CUSTOMER STATE OF RESIDENCE: az
NEW/USED: used
YEAR OF VEHICLE: 06
MAKE:bmw
MODEL:550I
MILEAGE: 95k
RETAIL/LEASE:retail
AMOUNT OF LOAN: 16k
TERM CONTRACTED: 48 m
APR/LEASE RATE: 7.6
MONTHLY PAYMENT: 403
ANNUAL INCOME: 34k
MISCELLANEOUS COMMENTARY:almost signed my life away at a dealship with 20% intrest rate ...glad i waited another month and rasied my score from 530 to 619

Starting Score: 619 TU FICO, 584 EQ FICO
Current Score: 619 TU FICO, 584 EQ FICO, 619 EX lender pull 3/23/12
Goal Score: 620 by August for new house


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Message 1053 of 3,883
Established Contributor

Re: Auto Loan Approvals!

APPROVING BANK: American Honda Finance
BUREAU PULLED: EQ (Auto Enhanced)
CREDIT SCORE: 730
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: Honda
MODEL: CRV-LX
MILEAGE: TBD
RETAIL/LEASE: Lease
AMOUNT OF LOAN: N/A
TERM CONTRACTED: 36 Months 12k Miles
APR/LEASE RATE: 4.68%
MONTHLY PAYMENT: 268 plus tax
ANNUAL INCOME: 40K
MISCELLANEOUS COMMENTARY: DW Approved for the best advertised rate (money factor). Special lease offered 239/Mo with $2799 plus fees (a total of $4477). We negotiated paying only fees, first month, and reducing the cost of the vehicle to get a monthly payment of 268 plus tax. The dealership has to perform a trade to get the color we want. DW is happy so I should be able to play golf whenever I want Smiley Very Happy.


Message 1054 of 3,883
New Member

Re: Auto Loan Approvals!

APPROVING BANK: Patriot Federal Credit Union
BUREAU PULLED: TU
CREDIT SCORE: 682 Fico TU04 (lender) 705 Fico auto enhanced (dealer)
CUSTOMER STATE OF RESIDENCE: PA
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Hyundai
MODEL: Elantra Limited w/Tech Package
MILEAGE: 10
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $20,499
TERM CONTRACTED: 72 months
APR/LEASE RATE: 3.99%
MONTHLY PAYMENT: $320
ANNUAL INCOME: 65,000


Starting Score: TU-654 EQ-613 EX-674
Current Score: TU08-686 (WM) EQ-640 EX-688 (PSECU)
Goal Score: 750


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Message 1055 of 3,883
Frequent Contributor

Re: Auto Loan Approvals!

I was looking at getting a Hyundai thru patriot federal. Was that from Massey Hyundai? Seems like they send more the business they do to patriot. Glad to know they have competitive rates.

flyers97 wrote:

APPROVING BANK: Patriot Federal Credit Union
BUREAU PULLED: TU
CREDIT SCORE: 682 Fico TU04 (lender) 705 Fico auto enhanced (dealer)
CUSTOMER STATE OF RESIDENCE: PA
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Hyundai
MODEL: Elantra Limited w/Tech Package
MILEAGE: 10
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $20,499
TERM CONTRACTED: 72 months
APR/LEASE RATE: 3.99%
MONTHLY PAYMENT: $320
ANNUAL INCOME: 65,000


Message 1056 of 3,883
New Member

Re: Auto Loan Approvals!

I got it at Hamilton Hyundai and PFCU matched Suntrust Bank at 3.99% I went with them because i could pay online a no go with Suntrust since I don't bank with them.


Starting Score: TU-654 EQ-613 EX-674
Current Score: TU08-686 (WM) EQ-640 EX-688 (PSECU)
Goal Score: 750


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Message 1057 of 3,883
New Contributor

Re: Auto Loan Approvals!

Can't copy and paste from phone...

593 EQ FICO score (pulled by all 3). $29k annual income.

#1. $14500 at 14% from Wells Fargo
#2. $19000 at 14% from Capitol One Blank Check
#3. 3rd time really is the charm. Lol
Local CU preapproved for $10000 at 7.49%... after choosing a car and negotiating a price (along with a $10k down payment loan from parents) I requested a reconsideration for the full $22k difference. Got approved after submitting income, taxes, and monthly budget paperwork.

$32000 vehicle price
$10000 down
$22000 financed

Signing docs this week and picking up the new wheels on Saturday! I'm shocked they came up $12k from original approval even with 30% equity in car.

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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Message 1058 of 3,883
Established Contributor

Re: Auto Loan Approvals!


amkari wrote:
Can't copy and paste from phone...

593 EQ FICO score (pulled by all 3). $29k annual income.

#1. $14500 at 14% from Wells Fargo
#2. $19000 at 14% from Capitol One Blank Check
#3. 3rd time really is the charm. Lol
Local CU preapproved for $10000 at 7.49%... after choosing a car and negotiating a price (along with a $10k down payment loan from parents) I requested a reconsideration for the full $22k difference. Got approved after submitting income, taxes, and monthly budget paperwork.

$32000 vehicle price
$10000 down
$22000 financed

Signing docs this week and picking up the new wheels on Saturday! I'm shocked they came up $12k from original approval even with 30% equity in car.


Large down paymets shows responsibility and less risk for the banks. It's a great motivator in the auto business Smiley Happy.



Message 1059 of 3,883
New Contributor

Re: Auto Loan Approvals!


teenastie wrote:

amkari wrote:
Can't copy and paste from phone...

593 EQ FICO score (pulled by all 3). $29k annual income.

#1. $14500 at 14% from Wells Fargo
#2. $19000 at 14% from Capitol One Blank Check
#3. 3rd time really is the charm. Lol
Local CU preapproved for $10000 at 7.49%... after choosing a car and negotiating a price (along with a $10k down payment loan from parents) I requested a reconsideration for the full $22k difference. Got approved after submitting income, taxes, and monthly budget paperwork.

$32000 vehicle price
$10000 down
$22000 financed

Signing docs this week and picking up the new wheels on Saturday! I'm shocked they came up $12k from original approval even with 30% equity in car.


Large down paymets shows responsibility and less risk for the banks. It's a great motivator in the auto business Smiley Happy.



Even better... when I signed the papers I was told that as long as I have current payments and my credit looks better I can request a decrease in the interest rate anytime in the next 12 months.  I had figured on looking at a refi in about 6 months but I might sit tight until next March and show almost a full year of payment history.  That plus another year away from my CC defaults in 2008 should look pretty good.  I though about trying for another CC but have decided to stay with just my Lane Bryant and USAA Secured AMEX along with the car loan for now.  :-) 


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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Message 1060 of 3,883