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Established Contributor
guydiver
Posts: 534
Registered: ‎08-30-2007

Re: Auto Loan Approvals!


H-Town_Tider wrote:

guydiver wrote:

CraveMazda wrote:
MyFico has really really helped me with my road to credit recovery. Today I bought a Lexus Certified Pre-owned at the best rate possible during their October sales event.

APPROVING BANK: Lexus Financial
BUREAU PULLED: EQ
CREDIT SCORE: 726
NEW/USED: CPO
YEAR OF VEHICLE: 2010
APR/LEASE RATE: 1.99
Term: 60 months

Congrats.  That's awesome.  What did you get?  Got my eye on a CPO RX 350.  If they pull EQ my auto score will be close to 800.


My wife's last two cars have been an RX330 and an RX400h, respectively. Bought both of them used, and they both were/are awesome cars. They really hold their value.


That's the one I really wanted, but they're older and no CPO's around anymore.  If I could find a very low miles 1-owner I'd buy it regardless.  Never seen the 400 though. They are all really nice cars.  You did good.:smileyhappy: 

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New Member
felixgun
Posts: 7
Registered: ‎11-02-2012

Re: Auto Loan Approvals!

I just re-financed both of my cars so I thought I'd share!  I did both for 60 months but plan on paying more each month to shorten the overall term.  

 

My wife's vehicle:

APPROVING BANK: Pentagon Federal
BUREAU PULLED: Applied online; not specified when approved
CREDIT SCORE: 701 (TU)/719 (EX) - Wife cosigned CS @ 771 (TU)
CUSTOMER STATE OF RESIDENCE: Colorado
NEW/USED: Used
YEAR OF VEHICLE: 2007
MAKE: Cadillac
MODEL: Escalade
MILEAGE: 54000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 22,017
TERM CONTRACTED: 60 months
APR/LEASE RATE: 1.49%
MONTHLY PAYMENT: $381
ANNUAL INCOME: $120,000
MISCELLANEOUS COMMENTARY: Originally financed with Ally @ 6.5%
 
 
My vehicle:
APPROVING BANK: Pentagon Federal
BUREAU PULLED: Applied online; not specified when approved
CREDIT SCORE: 701 (TU)/719 (EX) - Wife cosigned CS @ 771 (TU)
CUSTOMER STATE OF RESIDENCE: Colorado
NEW/USED: Used
YEAR OF VEHICLE: 2007
MAKE: Chevrolet
MODEL: Avalanche
MILEAGE: 84000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 18,117
TERM CONTRACTED: 60 months
APR/LEASE RATE: 1.49%
MONTHLY PAYMENT: $318
ANNUAL INCOME: $120,000
MISCELLANEOUS COMMENTARY: Originally financed with Ally @ 7.9%
Established Contributor
frogfan12
Posts: 872
Registered: ‎10-16-2010

Re: Auto Loan Approvals!

APPROVING BANK: Honda Financial Services
BUREAU PULLED: I don't know
CREDIT SCORE: I don't know
CUSTOMER STATE OF RESIDENCE: Texas
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Honda 
MODEL: CR-V
MILEAGE: 16
RETAIL/LEASE: Retail
AMOUNT OF LOAN: ~$9600 (Actual price of vehicle was a little of $27K)
TERM CONTRACTED: 36 months
APR/LEASE RATE: 5.9% (I'm very shocked!)
MONTHLY PAYMENT: $279
ANNUAL INCOME: $47K
MISCELLANEOUS COMMENTARY: This was my first car financed ever and I was very surprised at how smooth the process was. (I was in the dealership less than 5 hours) Overall, my credit is pretty good minus a baddie that recently appeared (boo) and balances on my cards. I traded in a 2010 Chevy Tahoe that I owned outright and they gave me $21,500 towards the price of my new car so I couldn't resist. I have never had a car payment before but I am planning on paying this one off early. The gas mileage is impressive and the car rides great. I look forward to the next few years enjoying my smaller, more gas efficient vehicle!

Starting Score: 760
Current Score: 716 Equifax 754 TU 736 Experian
Goal Score: 760
New Member
JustinC7
Posts: 6
Registered: ‎10-17-2012

Re: Auto Loan Approvals!

APPROVING BANK: Ford Credit
BUREAU PULLED: Probably Equifax as its my highest one.
CREDIT SCORE: 595 (Enhanced)
CUSTOMER STATE OF RESIDENCE: Pennsylvania
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: Ford
MODEL: Fusion SEL
MILEAGE: 106
RETAIL/LEASE: Retail
CASH/TRADE IN VALUE: $8663
AMOUNT OF LOAN: $18,754
TERM CONTRACTED: 72 months
APR/LEASE RATE: 5.9%
MONTHLY PAYMENT: $311
ANNUAL INCOME: $40,000

MISCELLANEOUS COMMENTARY: Love this car, Power heated Leather seats, dual climate control, 12 speaker premium sound system! Original invoice was $29K, got them down to $27K and got a better interest rate via outgoing model year incentives. Considering my credit I'd say I did pretty good.

 

Contributor
CraveMazda
Posts: 120
Registered: ‎02-13-2009

Re: Auto Loan Approvals!


guydiver wrote:

CraveMazda wrote:
MyFico has really really helped me with my road to credit recovery. Today I bought a Lexus Certified Pre-owned at the best rate possible during their October sales event.

APPROVING BANK: Lexus Financial
BUREAU PULLED: EQ
CREDIT SCORE: 726
NEW/USED: CPO
YEAR OF VEHICLE: 2010
APR/LEASE RATE: 1.99
Term: 60 months

Congrats.  That's awesome.  What did you get?  Got my eye on a CPO RX 350.  If they pull EQ my auto score will be close to 800.


Thanks Guydiver - I got the HS250h. I wanted a hybrid and wanted a smaller car than my 09 Mazda 6, the IS was too small, the ES was too big. The ES Hybrid is too new so didn't want to spend over $50K for that car. I lucked out and found my gem of a car. I LOVE it. It only had 12,100 miles on it so it is practically a new car. It has all the bells and whistles that one could have gotten on the car minus the ML sound system.

 



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Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012

Re: Auto Loan Approvals!


woogidyboogidy wrote:
APPROVING BANK: TD Bank
BUREAU PULLED: Equifax
CREDIT SCORE: 593
CUSTOMER STATE OF RESIDENCE: GA - Vehicle purchased in Tennessee
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE: Ford
MODEL: F150 - XLT
MILEAGE: 3
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 28,600
TERM CONTRACTED: 75 months
APR/LEASE RATE: 5.34% (!)
MONTHLY PAYMENT: 450.18
ANNUAL INCOME: 68,000
MISCELLANEOUS COMMENTARY: Shocked I got approved at such a low interest rate. Hell, shocked I got approved at all, with just my trade in, as I now have 2 vehicle loans, and a mortgage. I was hesitant to apply, as I closed on my house in May, and my credit score took a hit when I bit the bullet to go out and apply for about 5-6 credit cards and financed some furniture, but all in all, can't beat that interest rate. I read an article where TD Bank CEO was saying in September that the future of his company depended on the subprime market. Good news for those of us trying to rebuild credit history that have the means to do so.

How did this happen?  After I read this I decided to stop by my local TD Bank (I have checking, savings, and an unsecured loan 3 years old with them) and talked with one of their account service reps.  Both the reps in the branch at the time told me they require around a 680, and they had even heard it was trending towards 700 recently.  They didn't do the under writing in house, they basically submitted the app and that was it.  Kind of disheartening.  Did you do anything differently?  TD has been an awesome bank so far, so i was excited for the chance to possibly furter the relationship.  I was considering even making them my primary checking account (Currently my checking account only serves as a direct deposit, auto bill pay account)

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
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Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: Auto Loan Approvals!

Congrats

Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

Re: Auto Loan Approvals!

[ Edited ]

APPROVING BANK: Chase Bank
BUREAU PULLED: Not yet known
CREDIT SCORE: Not yet known
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: Undecided
YEAR OF VEHICLE: Undecided

MAKE: Undecided
MODEL: Undecided
MILEAGE: N/A
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 12k (deciding if I should request more)
TERM CONTRACTED: 60 months
APR/LEASE RATE: 5.30% (discounted by .50% due to Chase banking relationship) Approved APR 5.80%
MONTHLY PAYMENT: $226.89
ANNUAL INCOME: $22k+
MISCELLANEOUS COMMENTARY: Had to call to have my application reconsidered due to my employment history. Recently changed jobs so I had not provided my previous income or expected income of new job. Currently been a Chase customer for about 4+ years and I have a credit card with them. On to car shopping now! Interested in a Used Hyundai Accent b/c its a car I can afford right now. This is my FIRST auto loan! So excited!
The truth is out there...
FICO scores: 724 (EQ) 709 (EX) 711 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015
Established Member
hrguy
Posts: 50
Registered: ‎11-06-2012

Re: Auto Loan Approvals!

APPROVING BANK: Toyota Financial Services
BUREAU PULLED: Transunion
CREDIT SCORE: 650
CUSTOMER STATE OF RESIDENCE: DE
NEW/USED: New
YEAR OF VEHICLE: 2013

MAKE: Toyota
MODEL: Corolla S
MILEAGE: 40
RETAIL/LEASE: Lease
AMOUNT OF LOAN: 10K
TERM CONTRACTED: 36 months
APR/LEASE RATE: forgot - top tier lease rate though
MONTHLY PAYMENT: $253
ANNUAL INCOME: $45K+
MISCELLANEOUS COMMENTARY: Just discharged from Chapter 7 BK in July 2012.  I can't believe it.  The approval came back right away, I either could take top-tier leasing or qualified for 0.9% for 60 months.  At the time this was going for Tiers I thru III.  I was told the minimum for Tier III was 650 so I just made it in.  I got $1500 in rebates from TFS.  Still can't believe it was approved barely three months out of bankruptcy for such a good rate.  I am not a previous Toyota Buyer either, had also included two auto loans in my BK so I am not sure how or why they were lenient with me, but I didn't ask!.  Previously had a good history with Honda Financial.  I applied with my CU first thinking it would not be possible  just to have back up - they came in at 10.74% for up to 72 months, needless to say I did not take it.  I already have relationships with Honda and Nissan Finance, figured I would add Toyota so that I could move into Lexus which is also under Toyota Financial when this lease is up. 
Filed BK 7: 2/28/2012 | Discharged: 7/24/2012
POST BK APPROVALS:
NFCU nRewards Secured Visa: $1000 7/12| Apple FCU Secured Visa: $1000 9/12
Toyota Finance Lease: 0% | 0.0008 MF 10/12
Barclay Apple Finance Visa: $2200 1/13
NFCU cashRewards Visa: $2500 3/13

Regular Contributor
indecison
Posts: 226
Registered: ‎05-24-2012

Re: Auto Loan Approvals!

APPROVING BANK: Mini Financial and NFCU Went Mini Fin as they gave a better rate
BUREAU PULLED:All 3
CREDIT SCORE: 660
CUSTOMER STATE OF RESIDENCE:TX
NEW/USED: New
YEAR OF VEHICLE: 2012
MAKE:Mini
MODEL:Countryman S
MILEAGE: 77
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 41K
TERM CONTRACTED: 72
APR/LEASE RATE: 1.9%
MONTHLY PAYMENT: $618.00
ANNUAL INCOME: 150 K
MISCELLANEOUS COMMENTARY: Added lots of extra goodies plus some protection plans. By far the best buying experience we have had from a dealing with car sales perspective. Not bad deal especially only being 3 1/2 post BK. Put $2500 down due to negative equity in my trade in.

 


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