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New Member
Michelleh8sdebt
Posts: 2
Registered: ‎01-04-2009

Re: Auto Loan Approvals!

Great car, but....oh, hon...please be careful.  I was where you were 12 years ago and trust me I would do it all different in terms of my financial activities.

 

Was going to buy one until I read about the substantial transmission problems, especially with the Sport version...had to get an auto lawyer and won.

New Member
Michelleh8sdebt
Posts: 2
Registered: ‎01-04-2009

Re: Auto Loan Approvals!

I'm right there with you....

 

I have a 1995 Acura Integra with over 320k miles and a 2007 Honda Civic with 120k and no repairs on either, just typical maintenance.

 

I'm now looking for a newer TL as I've given the previous vehicles away.

Established Member
Jeeper44
Posts: 24
Registered: ‎10-20-2010

Re: Auto Loan Approvals!

APPROVING BANK: Digital Federal Credit Union
BUREAU PULLED: Experian
CREDIT SCORE: 700
CUSTOMER STATE OF RESIDENCE: Maine
NEW/USED: Used
YEAR OF VEHICLE: 2004
MAKE: Ford
MODEL: F-350 Powerstroke Diesel Dually
MILEAGE: 113000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 19900
TERM CONTRACTED: 72
APR/LEASE RATE: 3.49%
MONTHLY PAYMENT: 306
ANNUAL INCOME: 72k
MISCELLANEOUS COMMENTARY: I've been shopping for a recreational vehicle for a few months. I had been planning on buying a motorhome but recently realized a tow vehicle and camper made better sense as I can use the truck year round as a 2nd vehicle. I bought my car last year and due to my credit score only managed a 10% APR. I wasn't really planning on buying today but was just shopping at a used truck dealership that specializes in diesels. I've been working through my credit with the help of these forums, getting some items deleted, others dropping off. I still have a repo on there from 2005 and a judgement from the same time. As I wasn't trading in my car I didn't have a lot to put down. After finding this truck I let the dealer see what he could do with financing. He ran a fair issac and got a 700 back. The last score I purchased from here last month was 666. He submitted me to digital credit union which I wasn't familiar with. They came back with $500 down and %3.49!

 

New Member
Yodel85
Posts: 3
Registered: ‎02-27-2012

Re: Auto Loan Approvals!

APPROVING BANK: Capital One
BUREAU PULLED: All 3
CREDIT SCORE: 680
CUSTOMER STATE OF RESIDENCE: NC
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Toyota
MODEL: Yaris
MILEAGE: 0
RETAIL/LEASE:
AMOUNT OF LOAN: $20,400
TERM CONTRACTED: 60 mos
APR/LEASE RATE: 6.98%
MONTHLY PAYMENT:
ANNUAL INCOME: $30,000
MISCELLANEOUS COMMENTARY: I am posting this prematurely as I have not bought the vehicle yet.  I have been doing everything I can to improve my scores since my last car died 2 months ago.  I can't believe I was actually approved!  Going from scores in the upper 500's to now in the upper 600's in 2 months.  I disputed some things, some with success, others not.  I have CO's from over 4 years ago and was sure I wouldn't get financing from anyone.  Also, I've never had a car loan!  I was sure I would need a co-signer, but I am living proof that it can be done.  I am thankful that I found this site and to everyone who, unknowingly, have helped me educate myself to the credit world.  I will take the lessons learned from this site (along with my blank check) to the dealership and see if they can beat the rate (which is what I am most surprised about, I was really expecting around 15%).  I am so ready to drive my new car!!!
New Member
mungojerrie
Posts: 4
Registered: ‎03-13-2012

Re: Auto Loan Approvals!

[ Edited ]
APPROVING BANK: Kia Motors Finance
BUREAU PULLED: Equifax
CREDIT SCORE: 596 (Auto Enhanced unknown)
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Kia
MODEL: Soul +
MILEAGE: ??? (Take posession tonight - should be between zero and 50)
RETAIL/LEASE: $19,000
AMOUNT OF LOAN: $17,500
TERM CONTRACTED: 72
APR/LEASE RATE: 9.39
MONTHLY PAYMENT: $329.11
ANNUAL INCOME: $28,800
MISCELLANEOUS COMMENTARY: Purchased on a Saturday. Had Capital One Blank Check, but dealer was able to get me a better APR. Will refinance after one year for 48 months for a lower rate after further credit repair. Cannot wait to take posession of my 2012 Kia Soul+ with audio upgrade tonight! The only reason I didn't drive it home is because that dealer didn't have the exact one I wanted. They are picking it up from another dealer today.
 
If you have bad credit, try Kia. I was pleasantly surprised!

Starting Score: 567
Current Score: 598
Goal Score: 700


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Regular Contributor
jtc411
Posts: 169
Registered: ‎03-29-2012

Re: Auto Loan Approvals!

APPROVING BANK: VW Credit
BUREAU PULLED: Transunion
CREDIT SCORE: 623
CUSTOMER STATE OF RESIDENCE: MN
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Volkswagen
MODEL: Jetta GLI
MILEAGE: 0
RETAIL/LEASE: Lease
AMOUNT OF LOAN: 27,005
TERM CONTRACTED: 36 Months/36k
APR/LEASE RATE: Money Factor was .0015 which is around 3.64 APR
MONTHLY PAYMENT: $456

ANNUAL INCOME: $75,000

MISCELLANEOUS COMMENTARY:  We traded in our 2003 Infiniti g35 coupe and rolled 1800 in negative equity in to the lease.  We didn't put anything down other than first payment and the remainder of TTL.  My wife does not have great credit(we used hers) but they allowed her to count my income in "other".  Considering we got approved for a tier 3 lease, our sales guy worked to get the rates down a little bit and ended up getting what I found to be a quite good money factor.  The residual on the car in 3 years is 15,400.  Was very happy with Volkswagen.  This process even with below average credit took little to no work.

 


Starting Score: EQ 619
Current Score: EQ 735, TU 732, EX 745(Lender Pulled)
Goal Score: EQ 700


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Established Contributor
logan_720
Posts: 608
Registered: ‎02-02-2012

Re: Auto Loan Approvals!


dac1 wrote:
APPROVING BANK:  JP Morgan Chase
BUREAU PULLED:  Transunion
CREDIT SCORE:  746
CUSTOMER STATE OF RESIDENCE: Ohio
NEW/USED:  NEW
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL:  Explorer XLT
MILEAGE:  6
RETAIL/LEASE: Retail
AMOUNT OF LOAN:  $37536
TERM CONTRACTED: 72 months
APR/LEASE RATE: 3.09%
MONTHLY PAYMENT: 580
ANNUAL INCOME: 116,000

Excellent choice going with an Explorer :smileywink:

New Visitor
KellMN
Posts: 3
Registered: ‎02-06-2012

Re: Auto Loan Approvals!

APPROVING BANK: WELLS FARGO DEALERSHIP SERVICES
BUREAU PULLED: EQUIFAX
CREDIT SCORE:724 (I BELIEVE AUTO-ENHANCED)
CUSTOMER STATE OF RESIDENCE: MINNESOTA
NEW/USED: USED (SOLD AS NEW, WAS DEALER SERVICE LOANER)
YEAR OF VEHICLE:2011
MAKE: HYUNDAI
MODEL: SONATA - LIMITED
MILEAGE: 16,500
RETAIL/LEASE:$21,557
AMOUNT OF LOAN:$11,880
TERM CONTRACTED:63 mos
APR/LEASE RATE: 3.99%
MONTHLY PAYMENT:
$208
ANNUAL INCOME:$36,500
MISCELLANEOUS COMMENTARY:
Vehicle came with new car warranty because it was a dealership service loaner, was also considered a new car sale by the dealership so it included the extras one gets with a new car. Oh and the only reason I couldn't get a better APR/rate was because I had a bankruptcy in the end of 2008, which was given significant weight even though my FICO score is in the good range (724) and I had $10,000 cash and my trade-in for down payment.
Established Contributor
teenastie
Posts: 638
Registered: ‎07-28-2011

Re: Auto Loan Approvals!

APPROVING BANK: Bank of America
BUREAU PULLED: Equifax Beacon Auto Enhanced
CREDIT SCORE: 674
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: Used
YEAR OF VEHICLE: 2007
MAKE: Lexus
MODEL: GS350
MILEAGE: 38800
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 25,000
TERM CONTRACTED: 72
APR/LEASE RATE: 6.79%
MONTHLY PAYMENT: 450
ANNUAL INCOME: 40,000
MISCELLANEOUS COMMENTARY: DW upgraded from a Civic to a CRV so I downgraded from a Tundra to a GS350. Long story short- I got this car after 10 days of negotiations. Dealer paid black book for my truck/ I paid black book for their car/ Dealer ate their dealer fee/ Dealer beat my CU rate by 1.2%. I put 5k down so payment would not exceed $450 a month.


Regular Contributor
lovinlifeinkc
Posts: 154
Registered: ‎12-21-2011

Re: Auto Loan Approvals!

Congrats on the car- are you sure the interest rate  monthly payment/ loan  amounts are correct?  $450 a month for 72 months is $32,400 total for a $20,000 loan. 

Starting Score Aug 2011 590/ Gardening until 2013!!
Current Score Walmart 683/ FICO Equifax 722/738/ 708 Transunion FICO 700/ 725 Credit Karma 648/678/
Goal Score 750
Credit Cards- Orchard $300, Capitol One $300/$500, Amazon $600/$1300 Pennys $700, Walmart $250/$700, Discover $2000, Chase $1500 Pending Citi/Declined Cit- Inquires and new credit....... GARDENING UNTIL 2013 or home loan time!!! Help me stay strong!!

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