Auto Loan Approvals!

[Anonymous]

Thanks...Actually will most likely pay off the loan in two years...I'm parking the 50k in a managed investment account for which I aim to return 15-20% this year...If I'm on target I will extend it out another year...Great way to reduce the cost basis in an upward trending market.

[Anonymous]

APPROVING BANK: Wells Fargo Dealer Serivces
BUREAU PULLED: Equifax (not sure)
CREDIT SCORE: 630
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: USED
YEAR OF VEHICLE: 2006
MAKE: TOYOTA
MODEL: PRIUS
MILEAGE: 115K
RETAIL/LEASE: REAIL
AMOUNT OF LOAN: $11,000
TERM CONTRACTED: 60
APR/LEASE RATE: 15.55
MONTHLY PAYMENT: $260.00
ANNUAL INCOME: $39,000
DEBT TO INCOME RATIO: NA
MISCELLANEOUS COMMENTARY: 

4 years ago i had my car repossed. In 6 months time I have been able to get my score above 600. Now I got my prius.. Will be refinancing in a year or 2 to get a better interest rate or Trade in for a newer model

[Anonymous]

APPROVING BANK: Eastern Bank
BUREAU PULLED: EX

CREDIT SCORE: Me: 715 / Wife: 725
CUSTOMER STATE OF RESIDENCE: MA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Toyota
MODEL: RAV4
MILEAGE: 87
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $26,400
TERM CONTRACTED: 60 mo
APR/LEASE RATE: 1.94%
MONTHLY PAYMENT: $461.89
ANNUAL INCOME: $170k
DEBT TO INCOME RATIO: 72%
MISCELLANEOUS COMMENTARY: Got pre-approved at 2.42% from Bank of America and 2.09% from NFCU, but the dealer was able to beat that through Eastern Bank.  I'm very please with the rate.

[mystikal1]

APPROVING BANK: Allly
BUREAU PULLED: Experian
CREDIT SCORE: 637
CUSTOMER STATE OF RESIDENCE: NV
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE:Chevrolet
MODEL: Camaro
MILEAGE: 10
RETAIL/LEASE:35000
AMOUNT OF LOAN:37000
TERM CONTRACTED:72
APR/LEASE RATE:5.9%
MONTHLY PAYMENT:620
ANNUAL INCOME:100k
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY:Upside down on the trade in... Great Car!

[Rocd]

APPROVING BANK: Cap 1 Auto Loans
BUREAU PULLED: TransUnion
CREDIT SCORE: 583
CUSTOMER STATE OF RESIDENCE: CO
NEW/USED: USED
YEAR OF VEHICLE: 2009
MAKE: Infinity
MODEL: G37
MILEAGE: 48K
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: $20,000

DOWN PAYMENT: $7500
TERM CONTRACTED: 60
APR/LEASE RATE: 9.73
MONTHLY PAYMENT: $443.00
ANNUAL INCOME: $52,000
DEBT TO INCOME RATIO: NA
MISCELLANEOUS COMMENTARY: 

I decided to let the dealer shop for me instead of going online. I unfroze my reports at the dealer

and cap1 approved my loan within 5 minutes. My rate was 10.99 but when I bought the extended

warranty for 1700 the finace directorwas able to bring my rate down to 9.73. I'm gessing I got a good

rate because of my large downpayment. Interesting enough a Citi Creditcard CO just disapepared off

my report the next day. The Date of first delenquency(DOFD) was in May 2009 and I never disputed it or anything

it just dropped off. The SOL is May 2013. So that took my TU score to 607 for the time being.

I know that I was approved but I have read about people having issues with the lender backing out of the loan after approval but since I put

down such a large down payment I don't see why they would do this. Beforehand I had been driving my 1995 Nissan Maxima for the last 3 years.

No trade ins I will keep the Maxima.

[Anonymous]

APPROVING BANK: Hyundai Motor Finance/ Capitol One
BUREAU PULLED: Equifax
CREDIT SCORE: 642 (My Fico said it was only 607)
CUSTOMER STATE OF RESIDENCE: VA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Hyundai
MODEL: Elantra
MILEAGE: 3
RETAIL/LEASE: $22,000 (incl. tax, tags and titles)
AMOUNT OF LOAN: $20,629
TERM CONTRACTED: 72 months
APR/LEASE RATE: 6.9% (I think I could have haggled for even lower)
MONTHLY PAYMENT: $350.71
ANNUAL INCOME: $67,000
DEBT TO INCOME RATIO: 6%
MISCELLANEOUS COMMENTARY: 

You may have seen my previous post where my credit union offered me an interest rate of 10% and required me to put down 10%. I'm ecstatic that I had to put down far less than that. I would encourage anyone looking to check with Cap One before going into the the dealer. I was able to get a much lower rate than the 8% that the dealer offered me. Also remember to always speak up. Check out Motozuma.com where they match your downpayment up to $500 if you use their free service. I literally put the money in the account on a Wednesday and used it on a Saturday. Don't tell the dealer that you are using this untl you are in the financing room or they will try to take the $500 out of the price of the car instead.

[Anonymous]

APPROVING BANK:  Omni Financial (likely to be resold from what Finance Manager said)
BUREAU PULLED:  Equifax
CREDIT SCORE: 788 (this is higher than my real score, so I assume it is the auto enhanced one)
CUSTOMER STATE OF RESIDENCE:  NC
NEW/USED:  New
YEAR OF VEHICLE:  2013
MAKE:  Toyota
MODEL:  Prius V
MILEAGE:  New
RETAIL/LEASE:  Retail loan
AMOUNT OF LOAN:  $30,287
TERM CONTRACTED:  75 months
APR/LEASE RATE: 2.00% - zero down
MONTHLY PAYMENT:  $430.28
ANNUAL INCOME:  $124K
DEBT TO INCOME RATIO:  not sure
MISCELLANEOUS COMMENTARY:  Was also approved at 2.39% for 75 months with zero down by my credit union; dealer was aggressive with financing and I was able to get 2% for same terms. Also bought gap insurance for $299

[Anonymous]

APPROVING BANK: Capital One
BUREAU PULLED: Experian
CREDIT SCORE: 572
CUSTOMER STATE OF RESIDENCE: Florida
NEW/USED: Used; Hyundai Certified
YEAR OF VEHICLE: 2010
MAKE: Hyundai
MODEL: Accent GLS
MILEAGE: 40,191
RETAIL/LEASE: 11,300
AMOUNT OF LOAN: 12,900
TERM CONTRACTED: 72 mos
APR/LEASE RATE: 22.43 (ouch)
MONTHLY PAYMENT: $328
ANNUAL INCOME: $50,000
DEBT TO INCOME RATIO: not sure
MISCELLANEOUS COMMENTARY: No one else would finance me for a dependable, gas-stingy car to get me to work. Actively trying to rebuild my credit. 

[jk26978]

Hi Rickjame6892, 

I have just been reading these posts today and noticed that you are in Ohio as well.  It seems like our rating situation is a little close...you mentioned maybe trying to refi in about 12 mos.  Have you tried yet?  Just curious as I am thinking about applying for a small loan to purchase a vehicle from a private party that I know very well.  So if you have refi'd recently, would you mind telling me how it went?

Thanks much

just "K"

[Anonymous]

APPROVING BANK: Honda Financial
BUREAU PULLED: Equifax
CREDIT SCORE:  734
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Honda
MODEL: CRV
MILEAGE: 19
RETAIL/LEASE: Retail
AMOUNT OF LOAN: ~$24,900
TERM CONTRACTED: 48 months
APR/LEASE RATE: 2.34%
MONTHLY PAYMENT: Not sure
MISCELLANEOUS COMMENTARY:  I also got approved at 2.54% with Capital One. I am pretty sure that I qualified for 0.9% financing because they offered me that if I bought an extended warranty and gap insurance. I declined.