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Auto Loan Approvals!

Established Contributor

Re: Auto Loan Approvals!

APPROVING BANK: USAA
BUREAU PULLED: EQ
CREDIT SCORE: 649
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: USED
YEAR OF VEHICLE: 2009
MAKE: HONDA
MODEL: ACCORD
MILEAGE: 45.000
RETAIL/LEASE: REFINANCED
AMOUNT OF LOAN: 18.500
TERM CONTRACTED: 60
APR/LEASE RATE: 4.95
MONTHLY PAYMENT: 349
ANNUAL INCOME: 85K
MISCELLANEOUS COMMENTARY: i love USAA. they refinanced from 20.9(santander) to 8.4 APR, then 1 month later my credit score up 20 pt from 62x to 649 they refinanced down to 4.9 . But i still have 2 CO with 0 balance and 1 unpaid medical CA
10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Message 1561 of 3,819
Highlighted
Established Member

Re: Auto Loan Approvals!

APPROVING BANK: Navy Federal Credit Union
BUREAU PULLED: EQ (??)
CREDIT SCORE: 688 EQ/690+ (Hubby's EQ)
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL: Edge SEL
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $34K
TERM CONTRACTED: 72 mos
APR/LEASE RATE: 2.79%
MONTHLY PAYMENT: $513
ANNUAL INCOME: $66K+
MISCELLANEOUS COMMENTARY: So if you've read any of my posts, I originally went through USAA when I had 4K (620 EQ) in credit debt and was still approved for 25K (no budge) at 4.59% for 72 months. Well I decided not to take it and just pay off my credit cards and try again when it reported to my score/report. Well it finally reported and my score jumped to 688 EQ. I called USAA again and asked for $34K (tax and registration included) and they said no..only 20K at 12.99% (!!!!) Turns out they weren't calculating in my husbands special pays and after that, offered 29K but still 12.99%. I asked why such a huge interest rate difference from before when my credit score obviously jumped and debt became less. Guy agreed with me but had no idea why. So I applied with NFCU (became members last week) and they approved us for the full 34K in less than 10 minutes. I go pick up my check tomorrow and brand new ford edge in the morning Smiley Happy))) Everyone was right, NFCU is awesome!
Starting Score: FICO EQ 663 (02/04/13)
Current Score: FICO EQ 687
Goal Score: FICO EQ 700 (March 2013)
Message 1562 of 3,819
Contributor

Re: Auto Loan Approvals!


LMBray09 wrote:
APPROVING BANK: Navy Federal Credit Union
BUREAU PULLED: EQ (??)
CREDIT SCORE: 688 EQ/690+ (Hubby's EQ)
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL: Edge SEL
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $34K
TERM CONTRACTED: 72 mos
APR/LEASE RATE: 2.79%
MONTHLY PAYMENT: $513
ANNUAL INCOME: $66K+
MISCELLANEOUS COMMENTARY: So if you've read any of my posts, I originally went through USAA when I had 4K (620 EQ) in credit debt and was still approved for 25K (no budge) at 4.59% for 72 months. Well I decided not to take it and just pay off my credit cards and try again when it reported to my score/report. Well it finally reported and my score jumped to 688 EQ. I called USAA again and asked for $34K (tax and registration included) and they said no..only 20K at 12.99% (!!!!) Turns out they weren't calculating in my husbands special pays and after that, offered 29K but still 12.99%. I asked why such a huge interest rate difference from before when my credit score obviously jumped and debt became less. Guy agreed with me but had no idea why. So I applied with NFCU (became members last week) and they approved us for the full 34K in less than 10 minutes. I go pick up my check tomorrow and brand new ford edge in the morning Smiley Happy))) Everyone was right, NFCU is awesome!

Congrats on your victory over the APR. Smiley Happy I still do not understand why many people with 675+ keep on going with USAA and get a 4.99%+, when they can go with NFCU and get a 1.79-2.99% with the same score! It's a no brainer! Once again congrats and enjoy you new vehicle! Smiley Very Happy

USAA PLATINUM MC: $9.5k | CHASE SAPPHIRE PREFERRED: $5k | NFCU FLAGSHIP REWARDS: $5k | USAA VFW REWARDS: $4k | BARCLAYS FINANCING VISA: $2.3k | CHASE AMAZON REWARDS: $2k | DISCOVER IT: $1k | AMEX BCP: $1K | PAYPAL SC: $1.3k | MACYS: $1.2k | EXPRESS: $600 | NFCU LOC: $2.5k | NFCU AUTO LOAN: $21k
Message 1563 of 3,819
Established Member

Re: Auto Loan Approvals!

APPROVING BANK:Bank of America
BUREAU PULLED:Not sure
CREDIT SCORE:749 EQ
CUSTOMER STATE OF RESIDENCE:CA
NEW/USED:New
YEAR OF VEHICLE:2013
MAKE:Honda
MODEL:Fit
MILEAGE:NA
RETAIL/LEASE:$15,400
AMOUNT OF LOAN:15,000
TERM CONTRACTED:6 years/72 months
APR/LEASE RATE:2.74
MONTHLY PAYMENT:~$226
ANNUAL INCOME:35,000
MISCELLANEOUS COMMENTARY: Went on B of A webiste and applied, got a instant phone call to verify some stuff, now just have to pick a color. Hoping to take delivery after work sometime this week. VERY EXCITE!
Message 1564 of 3,819
Established Member

Re: Auto Loan Approvals!

This thread is very useful. Congrats to everyone



Starting Score: 583 February 16, 2013
Current Score: EQ 634 April 11 TU 645 (Walmart) April 2013
Goal Score: 700


Take the myFICO Fitness Challe
Message 1565 of 3,819
Regular Contributor

Re: Auto Loan Approvals!

APPROVING BANK: American Honda Financial Corp
BUREAU PULLED: Experian
CREDIT SCORE:605
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: Certified Used
YEAR OF VEHICLE: 2010
MAKE: Honda
MODEL: CRV EX
MILEAGE: 25,600
RETAIL/LEASE: Retai
AMOUNT OF LOAN:$ 18, 323
TERM CONTRACTED: 5 yrs
APR/LEASE RATE: 11.09
MONTHLY PAYMENT: $ 399
ANNUAL INCOME: $ 40K
MISCELLANEOUS COMMENTARY: First time buyer, and I happy to get financed at with this rate given the dings and pings in my credit. This was the lowest rate I was offered (Roadloans, Credit Union, & recently denied by Chase, Honda & CapOne for loans). I figure in a year or so when I have developed a payment histroy and cleaned up my CR some more-I will try to refi at a much more decent rate. Thus far happy and very content.
***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
Message 1566 of 3,819
Valued Member

Re: Auto Loan Approvals!


BKFireFly wrote:
APPROVING BANK: American Honda Financial Corp
BUREAU PULLED: Experian
CREDIT SCORE:605
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: Certified Used
YEAR OF VEHICLE: 2010
MAKE: Honda
MODEL: CRV EX
MILEAGE: 25,600
RETAIL/LEASE: Retai
AMOUNT OF LOAN:$ 18, 323
TERM CONTRACTED: 5 yrs
APR/LEASE RATE: 11.09
MONTHLY PAYMENT: $ 399
ANNUAL INCOME: $ 40K
MISCELLANEOUS COMMENTARY: First time buyer, and I happy to get financed at with this rate given the dings and pings in my credit. This was the lowest rate I was offered (Roadloans, Credit Union, & recently denied by Chase, Honda & CapOne for loans). I figure in a year or so when I have developed a payment histroy and cleaned up my CR some more-I will try to refi at a much more decent rate. Thus far happy and very content.

How much did you have to put down?

EQ 700 Trans 695 Exp 722
Message 1567 of 3,819
Regular Contributor

Re: Auto Loan Approvals!

i chose to put 1500 down. Kinda wish I put more, but decided I'll just make chunk payments once I figure out how Honda financial allies extra payments
***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
Message 1568 of 3,819

Re: Auto Loan Approvals!

APPROVING BANK: Hyundai Motor Finance
BUREAU PULLED: EQ
CREDIT SCORE: 542
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: Hyundai
MODEL: Sonata Hybrid
MILEAGE: 17
RETAIL/LEASE: retail
AMOUNT OF LOAN: 27500
TERM CONTRACTED: 72
APR/LEASE RATE: 13.79
MONTHLY PAYMENT: 559
ANNUAL INCOME: 52k
MISCELLANEOUS COMMENTARY: not thrilled about the APR but Carmax had offered me 24% on a used version of the same model with 7k on the car. Only went to dealership to test drive car, ended up getting a good deal and will be refinancing in about 6 months, just have to pay down credit cards since that is the only reason that my score is low.
NFCU nRewards Secured - $500 (opened 3/16) | NFCU CashRewards - $5500 (opened 10/16) | NFCU Platinum - $6700 (opened 10/16) | NFCU Platinum - $2500 (opened 2/17) | Synchrony car care - $5000 (opened 4/17) | Old Navy - $3000 (opened 4/17) | American Eagle - $280 (opened 4/17) | TJ Maxx - $400 (opened 4/17) | Kohls - $300 (opened 1/17)

Current Scores: EQ - 519 EX - 524 TU - 530
Message 1569 of 3,819
Moderator

Re: Auto Loan Approvals!


jessientyler0726 wrote:
APPROVING BANK: Hyundai Motor Finance
BUREAU PULLED: EQ
CREDIT SCORE: 542
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: Hyundai
MODEL: Sonata Hybrid
MILEAGE: 17
RETAIL/LEASE: retail
AMOUNT OF LOAN: 27500
TERM CONTRACTED: 72
APR/LEASE RATE: 13.79
MONTHLY PAYMENT: 559
ANNUAL INCOME: 52k
MISCELLANEOUS COMMENTARY: not thrilled about the APR but Carmax had offered me 24% on a used version of the same model with 7k on the car. Only went to dealership to test drive car, ended up getting a good deal and will be refinancing in about 6 months, just have to pay down credit cards since that is the only reason that my score is low.

Heh seriously congrats, I would've adored to get that rate with my own 551 Auto EX pull; seriously that dealer did you right, though admittedly I did get a pretty easy refinance 8 months later down to 6%, so likely once your CC debt is paid and you have positive history on the auto loan (6+ months) you likely can do better depending where your scores wind up.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Message 1570 of 3,819