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Auto Loan Approvals!

New Contributor

Re: Auto Loan Approvals!

I want to be like you when I grow up Smiley Wink

Message 1221 of 3,813
Member

Re: Auto Loan Approvals!

APPROVING BANK:west fargo (took over for ally last week of month)
 BUREAU PULLED: single experian
CREDIT SCORE:769 (off copy of report)
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: NEW
YEAR OF VEHICLE:2012
MAKE:chevy
MODEL: volt
 MILEAGE: 0
RETAIL/LEASE: retail
AMOUNT OF LOAN: 42,XXX
TERM CONTRACTED: 72
APR/LEASE RATE: 0
MONTHLY PAYMENT: 56X
ANNUAL INCOME: 130, XXX
MISCELLANEOUS COMMENTARY:was a 0% special going on, was originally using ally but used wells fargo instead. Was two inquires, one at the dealer level/system and one from wells fargo the same day. One existing loan with Toyota Motor with about 6 payments left on that.
Message 1222 of 3,813
Valued Contributor

Re: Auto Loan Approvals!

My sister recently purchased a new chevy cruze here are the details.
 
 
APPROVING BANK: Wells Fargo
BUREAU PULLED:Equifax
CREDIT SCORE:587
CUSTOMER STATE OF RESIDENCE: North Carolina
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: Chevy
MODEL: Cruze
MILEAGE: 150
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 20081
TERM CONTRACTED: 72
APR/LEASE RATE: 14%
MONTHLY PAYMENT: 424
ANNUAL INCOME: 20k
MISCELLANEOUS COMMENTARY: Traded in 2006 Chrysler 300 Touring w/ 111k miles,( 8975 for trade)  for a 2012 Chevy Cruze LS, manual transmission. Had grandmother to cosign for extra income, credit not much better. Had to put 250 down. Payment is the 1 dollar cheaper than what i was paying on the chrysler.

I'm not a kid anymore, I've done a lot of growing up! Smiley Happy
Starting Scores Sept '15- EQ-555, TU-542-EX-536
Current Scores as of June '16 - EQ-592, TU-635. EX-629
Gardening since June2016
Message 1223 of 3,813
Frequent Contributor

Re: Auto Loan Approvals!

APPROVING BANK: Volkswagen Finance
BUREAU PULLED: TransUnion
CREDIT SCORE: 671
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Volkswagen
MODEL: Golf 4dr
MILEAGE: ~200
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $20,932
TERM CONTRACTED: 72
APR/LEASE RATE: 1.9%
MONTHLY PAYMENT: $308
ANNUAL INCOME: ~$75k
MISCELLANEOUS COMMENTARY: First new vehicle purchase ever. No trade-in, $500 cash down. Had two paid off auto loans and two current auto loans in my credit history, with one 30 day late payment a couple of years ago. One of the current loans only has 5 months left.

APPROVING BANK: First Niagara
BUREAU PULLED: TransUnion
CREDIT SCORE: 671
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Dodge
MODEL: Grand Caravan SXT
MILEAGE: 198
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $27,884
TERM CONTRACTED: 72
APR/LEASE RATE: 2.74%
MONTHLY PAYMENT: $420
ANNUAL INCOME: ~$75k
MISCELLANEOUS COMMENTARY: Purchased two days after the Golf above. Traded in a 2007 minivan with 9 months left on an extended warranty and 52 payments left on a 72 month loan at 12.39% interest (I have no idea what I was thinking when I agreed to that, I needed a vehicle and didn't shop around for the financing). Rolled in about $3k of negative equity, but also got $3k of manufacturer incentives off the purchase price. I know rolling in negative equity is bad, but given the interest rate difference, manufacturer incentives, and warranty situation, I thought it was worth it. I'll be saving a ton of money in interest and should actually have a good bit of equity in a couple of years.
Scores:
07/29/12: EX FICO (Amex) 684 | EQ MyFICO 631 | TU Walmart 695
Current: EX FICO (MyFICO) 733 | EQ (MyFICO) 683 | TU (Walmart) 745

First Goal: 700+ across the board - Got it on EX & TU!!!
Message 1224 of 3,813
Member

Re: Auto Loan Approvals!

APPROVING BANK: Honda Financing
 BUREAU PULLED: single Equifax
CREDIT SCORE:690
CUSTOMER STATE OF RESIDENCE: IA
NEW/USED: NEW
YEAR OF VEHICLE:2012
MAKE:Honda
MODEL: Odyssey
 MILEAGE: 180
RETAIL/LEASE: retail
AMOUNT OF LOAN: 9,500
TERM CONTRACTED: 60
APR/LEASE RATE: 0
MONTHLY PAYMENT: 161
ANNUAL INCOME: 100,000
MISCELLANEOUS COMMENTARY: Lots of inquiries but NO baddies with limited credit history. Good income, and excellent payment history and had $26k down with trade in. Honda indicated you only need 680 score to qualify for 0.9% financing!
Message 1225 of 3,813
New Contributor

Re: Auto Loan Approvals!

APPROVING BANK: Capital One Auto Finance
BUREAU PULLED:HP all 3, but based financing on EQ
CREDIT SCORE:EQ 598 (EX 660 TU 643)
CUSTOMER STATE OF RESIDENCE: MD
NEW/USED: Certified Used
YEAR OF VEHICLE:2012
MAKE:Hyundai
MODELSmiley Frustratedonata GLS
MILEAGE:26k
RETAIL/LEASE:Retail
AMOUNT OF LOAN:20k after add-ons and warranties
TERM CONTRACTED:72
APR/LEASE RATE:12.99
MONTHLY PAYMENT:380
ANNUAL INCOME:31.5k
MISCELLANEOUS COMMENTARY: First time buyer! Offered 2500 down on the car itself + paid taxes+title+ tags up front came to 4000 down flat. Im sure that this made it very attractive to the financing department. Had a bit of a run around with the finance department regarding the interest and price of the vehicle got then to drop vehicle price 1500 and 2% off the interest in the end. My advice even if you think your fortunate to get approved don't show it haggle the price as much as you can. My husband and I were in the dealer ship an hour and a half past closing (a total of about 6 hours in there) on a Sunday night which also happened to be the last day of the month. Take your time in there, don't let them rush you!

 


Starting Score: FICO Lender 7/2012: EQ 598 TU 643 EX 640
Current Score: MyFico 04/14/13 EQ 684 TU 650
01/13/13 Lender EX 677
Goal Score:700's All Bureaus


Take the FICO Fitness Challenge
Message 1226 of 3,813
Member

Re: Auto Loan Approvals!

APPROVING BANK: GTE Federal Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: 654
CUSTOMER STATE OF RESIDENCE: Florida
NEW/USED: Used
YEAR OF VEHICLE: 2010
MAKE: Honda
MODEL: Civic
MILEAGE: 35,300
RETAIL/LEASE: Finance
AMOUNT OF LOAN: $7,500 
TERM CONTRACTED: 48 Months
APR/LEASE RATE: 1.99%
MONTHLY PAYMENT: $163
ANNUAL INCOME: $28,000
MISCELLANEOUS COMMENTARY: Instant approval. Also got approved with Bank of America for 8.99%, Chase 5.79%, Capital One 5.99%. I have a short credit history of 2 years, but was able to put $12,000 down.
Message 1227 of 3,813
Highlighted
Established Member

Re: Auto Loan Approvals!

APPROVING BANK: Alaska Federal Credit Union
BUREAU PULLED:Experian 
CREDIT SCORE:614
CUSTOMER STATE OF RESIDENCE:Washington
NEW/USED:Used
YEAR OF VEHICLE:2005
MAKE:Acura
MODEL:RSX
MILEAGE:72,000
RETAIL/LEASE:Finance
AMOUNT OF LOAN:12,156
TERM CONTRACTED:60
APR/LEASE RATE:8.9!!!!
MONTHLY PAYMENT:267.51
ANNUAL INCOME:$27,040
MISCELLANEOUS COMMENTARY:

Starting Score: 547
Current Score: 620
Goal Score: 700


Take the FICO Fitness Challenge
Message 1228 of 3,813
Contributor

Re: Auto Loan Approvals!

APPROVING BANK: Pen Fed
BUREAU PULLED: Equifax
CREDIT SCORE: 800
CUSTOMER STATE OF RESIDENCE: Texas
NEW/USED: Used
YEAR OF VEHICLE: 2006

MAKE: Range Rover

MODEL: Sport Supercharged
MILEAGE: 52,200
RETAIL/LEASE: Finance
AMOUNT OF LOAN: 21,000
TERM CONTRACTED: 60
APR/LEASE RATE: 1.99
MONTHLY PAYMENT: 367.99

ANNUAL INCOME: $72,000
MISCELLANEOUS COMMENTARY: I purchased my new rangy for $27,000.00 plus tax, title and license. The total down payment was around $8100.00 plus I had a $100.00 deposit on the vehicle to hold  it while I waited on the check from Pen fed.

I know it is 6 years old but it’s a one owner, with low miles and owned by a local doctor. It is in pristine condition!! I finally am the proud owner of a luxury vehicle.

 Autocheck, carfax, and an independent inspection were completed by my local range rover dealership. I also was able to get my insurance company to check for any reported accidents.

I spent a few hundred dollars paying for the carfax and pre-purchase inspection but this was my first time purchasing a used vehicle.

My credit score was 800 at application. After the pull and new account has updated it went down to 791.

 

 

Your credit score
849
Source: Equifax Date: April 29, 2015
Message 1229 of 3,813
Member

Re: Auto Loan Approvals!

 
APPROVING BANK: Chase 
BUREAU PULLED: EQ
CREDIT SCORE: 710
CUSTOMER STATE OF RESIDENCE: Louisiana
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Chevy
MODEL: Malibu
MILEAGE: 6
RETAIL/LEASE:
Retail
AMOUNT OF LOAN: 22000
TERM CONTRACTED: 72 MO
APR/LEASE RATE: 5%
MONTHLY PAYMENT: 380
ANNUAL INCOME: 50000
MISCELLANEOUS COMMENTARY: Discharged CH 13 about 2 years ago, wife has a couple of medical collections that are paid.. Otherwise clean credit since discharged BK. Put nothing down and had to roll over neq. equity from a POS Honda..
Message 1230 of 3,813