Auto Loans

[WhiteCollar]

You should ask this question under the "Auto Loans" forum as a new post. This thead is normally for those that have recently purchased or leased vehicles. With your score, getting approved for super low rates will be easy for you. If your scores are accurate, you should qualify for 0% financing promotions from Toyota and Honda. The lowest auto rate  the credit unions are offering is 1.49% which is still great!

Good luck!!!!

[Revelate]

APPROVING BANK: DCU
BUREAU PULLED: EQ
CREDIT SCORE: Unknown, EQ Beacon 5.0 from last month was 646.
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: Refinance (originally purchased used)
YEAR OF VEHICLE: 2010

MAKE: Acura

MODEL: TSX V6 Tech
MILEAGE: 38000
RETAIL/LEASE: Refinance
AMOUNT OF LOAN: 16070.35 
TERM CONTRACTED: 60 months
APR/LEASE RATE: 5.99
MONTHLY PAYMENT: 310.59

ANNUAL INCOME: 125K 
MISCELLANEOUS COMMENTARY:  Original loan from WFDS was 19.35%, this APR was beyond my wildest dreams (I was nearly praying for high single-digits).

Interestingly enough in my online account, got touted something called the Payment Reward Program:

How does DCU's Payment Reward Program work?

After three consecutive months of on-time or early payments and remaining a member in good standing, you will automatically receive a 1/4% discount on your loan interest rate. The Payment Reward Program will continue to lower your interest rate a 1/4% every three monthsfor a maximum interest rate reduction of up to 1.50%. This will mean big savings for you over the term of your loan! This rate reduction will not change your payment, but you will pay less interest over the life of the loan and, depending on your original term, you may even pay your loan off early.

I wasn't planning to carry the loan to term anyway (need to clear room on DTI calc for mortgage); however, this is pretty tasty for a used car loan of any type let alone a refinance to someone who just isn't anywhere close to prime yet.

[Born123]

APPROVING BANK: University Federal Credit Union
BUREAU PULLED: Equifax

CREDIT SCORE: 670
CUSTOMER STATE OF RESIDENCE: Texas
NEW/USED: Used
YEAR OF VEHICLE: 2008

MAKE: Cadillac

MODEL: Escalade

MILEAGE: 63,000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $25,000 ($10k dp =$35k total)
TERM CONTRACTED: 48 months
APR/LEASE RATE: 3.65%
MONTHLY PAYMENT: $565

ANNUAL INCOME: $50k
MISCELLANEOUS COMMENTARY: A week before I applied for the loan, I checked my credit score through Equifax and my score online was 723 so not sure why its lower through the credit union. Also, this is my first ever auto loan and with no cosigner

[zan987]

Congrats to you!

[keny01998]

APPROVING BANK: Agriculture Federal Credit Union

U BUREAU PULLED: Equifax

CREDIT SCORE: 660 auto ehance 

CUSTOMER STATE OF RESIDENCE: Arkansas

NEW/USED: Used

YEAR OF VEHICLE: 2010

MAKE: Acura

MODEL: MDX Tech package and Entertainment

MILEAGE: 32000

RETAIL/LEASE: Retail

AMOUNT OF LOAN: $31,000

TERM CONTRACTED: 72 months

APR/LEASE RATE: 3.9%

MONTHLY PAYMENT: $490

ANNUAL INCOME: $70k

MISCELLANEOUS COMMENTARY: I have two active loans with this credit union for over 2 years. One of my car was totaled and I have paid it off after receiving insurance money. I had a few 90 and 120 lates with my Citi credit cards back in 2010 and they were paid to 0 balance after settlement. Currently having 10 active credit cards with ultilization of 40%. The loan officer asked me to explain what happened with the lates and asked me how much I want to borrow. I shot for $32k and got approve instantly due to my on time history with them. Rate is 2.9 for 60 months, 3.9 for 72 months or 4.9 for 84. I picked 3.9%. The lowest advertised rate from the credit union is 2.9 for  72.

[Stu71584]

APPROVING BANK: Honda Finance
BUREAU PULLED: EQ
CREDIT SCORE: 610
CUSTOMER STATE OF RESIDENCE: MA
NEW/USED: Used
YEAR OF VEHICLE: 2010

MAKE: Honda

MODEL: Accord V6 EX-L
MILEAGE: 18000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 25k
TERM CONTRACTED: 72 months
APR/LEASE RATE: 12.9
MONTHLY PAYMENT: 490

ANNUAL INCOME: 51K 
MISCELLANEOUS COMMENTARY: Walked into the dealership with a Capital One blank check at 17.55%. F&I mgr was able to pull the strings at Honda Finance to get me approved with Honda finance at 12.9.

[Pmann19]

APPROVING BANK: Santander USA ( Car Max)
BUREAU PULLED:Not Sure
CREDIT SCORE:580
CUSTOMER STATE OF RESIDENCE:FL
NEW/USED:used 
YEAR OF VEHICLE:2007

MAKE:Honda

MODEL:Accord
MILEAGE:13,000
RETAIL/LEASE:
AMOUNT OF LOAN:$13,6900
TERM CONTRACTED:60 Mo
APR/LEASE RATE:23.81%
MONTHLY PAYMENT:$365

ANNUAL INCOME: $38,000
MISCELLANEOUS COMMENTARY: I got this loan in October 2010. Since raise my credit score 50 to 70 points have had nearly 2 years of on-time payments on my auto-loan. I also have three credit cards that are about eight months old with on-time payments and 10% of used.

[BarnicleBill]

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APPROVING BANK: GM FINANCIAL
BUREAU PULLED: TRANSUNION
CREDIT SCORE: 567 ( DEALER
CUSTOMER STATE OF RESIDENCE: PA
NEW/USED: USED
YEAR OF VEHICLE: 2009

MAKE: CHEVROLET

MODEL: SILVERADO CREW CAB 4X4
MILEAGE: 48500
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 12500
TERM CONTRACTED: 48
APR/LEASE RATE: 6.9
MONTHLY PAYMENT: 299

ANNUAL INCOME: 52000
MISCELLANEOUS COMMENTARY: PUT $5000, PLUS $5500 FOR TRADE, PREVIOUS REPO 6 YEARS OLD, 2 COLLECTIONS(2 YEARS OLD), 2 CHARGE OFFS(4 YEARS OLD). ALSO HAD CAPITAL ONE APPROVAL 10.9.  WAS DENIED AT LOCAL CREDIT UNION.

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[MyCreditSucksTheMost]

APPROVING BANK:Roadloans
BUREAU PULLED:EQ
CREDIT SCORE:618(lowest of the bunch, rest are almost 650)
CUSTOMER STATE OF RESIDENCE:TX
NEW/USED:Used
YEAR OF VEHICLE:2006

MAKE:Ford

MODEL:Mustang GT
MILEAGE:34K
RETAIL/LEASE: Private Party
AMOUNT OF LOAN:15250
TERM CONTRACTED:48 Months
APR/LEASE RATE:14.5%(had as low as 12 for retail loan, but this turned out to be a better deal)
MONTHLY PAYMENT:$310.25

ANNUAL INCOME:74,000
MISCELLANEOUS COMMENTARY:My first auto loan, ever! I plan to refi here in 6-10 months for a hopefully much better rate, until than, I'm gardening!!

[creditnocash]

This thread is to be used for your Auto Loan Approvals just copy and paste!

APPROVING BANK: Toyota Financial
BUREAU PULLED:tu
CREDIT SCORE:704
CUSTOMER STATE OF RESIDENCE: Massachusetts
NEW/USED: New
YEAR OF VEHICLE:2012

MAKE:Toyota

MODEL:Camry SE
MILEAGE:10(6 of which were mine)
RETAIL/LEASE:lease
AMOUNT OF LOAN:24k (28900 msrp)
TERM CONTRACTED:36 months
APR/LEASE RATE:?
MONTHLY PAYMENT:259 a month

ANNUAL INCOME:30k
MISCELLANEOUS COMMENTARY:Never had an auto loan and was ready to have a co signer. score was higher then i pulled this morning and got through financing just fine.

no baddies on my record besides the fact my aaooa is under a year but two cards are over 1yr 8months. out of 7 cards total 4 (opened in the last 2 months)

also got 1800 for trade for my beater and 1k down. which im going to refiance after the lease. residual value will be 15k 

its the 4cyl but has leather and convience package(premium sound/backup camera/navigation)