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Member
Eve23
Posts: 14
Registered: ‎04-02-2013
0

Re: Auto Loan Approvals!


webhopper wrote:

Eve23 wrote:

@ Rocd, oh don't get me wrong.. I do plan on applying to both mentioned above. I have CC on both. 

 

I just wanted to compare rates and their terms. 


 

Eve23 you can become a Penfed member with no issues after you donate $15 to the organization

Thank you Webhopper!

 

I'm so nervous right now to apply anywhere >.<

 

So if I want to sign up with them, I would have to donate $15 huh.. Okay I will consider them after other two. 

 

Thank you so much for your response!

Member
Eve23
Posts: 14
Registered: ‎04-02-2013
0

Re: Auto Loan Approvals!

 

APPROVING BANK: Bank of America
BUREAU PULLED: EX
CREDIT SCORE: 734
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: NEW
YEAR OF VEHICLE: 2013
MAKE: Lexus
MODEL: IS 250
MILEAGE: N/A
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 35K
TERM CONTRACTED: 60
APR/LEASE RATE: 2.49%
MONTHLY PAYMENT: N/A ( Haven't bought yet )
ANNUAL INCOME: 74.4K
MISCELLANEOUS COMMENTARY: This is only my first attempt and also my very first loan. I was dreading for the past few weeks. I have to say, Bofa is just awesome. I have been approved in 2 mins. Followed by a quick identity verification by phone; (Did not ask for income verification). Lastly, they sent me a approval letter to take to a dealer. I'm not planning on using the full amount of the loan. However, they said if I did, my monthly payment would be $621. 

 

I am very excited! I didn't think I would get approved since I don't have any installment pay. I only have 2 CC, pretty much it. I thought I put that in there so others (like me) that has no experience and first timer can have more insight on the process.

 

I don't plan on asking anyone else. I already feel that I got the best deal, due to my thin credit file. 

 

Thanks to anyone that answered my newbie questions. :smileyhappy: Good Luck.   PS: I will definitely update on my final deal and car!

Regular Contributor
jk26978
Posts: 164
Registered: ‎08-21-2010
0

Re: Auto Loan Approvals!

APPROVING BANK: Atomic Credit Union
BUREAU PULLED: 
CREDIT SCORE: 694 (said I was Tier B - very excited - not even 4 years since BK 7 filing)
CUSTOMER STATE OF RESIDENCE: Ohio
NEW/USED: Used
YEAR OF VEHICLE: 2000
MAKE: Dodge
MODEL: Ram 1500 Laramie SLT magnum
MILEAGE: 62,208
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 5495.67
TERM CONTRACTED: 48 mos
APR/LEASE RATE: 4.99%
MONTHLY PAYMENT: 126.57
ANNUAL INCOME: $23,000.00 (myself - did not include fiancés - but he will help with pmt)
DEBT TO INCOME RATIO: 5.16%  (only for a few more months then will be lower - one bill will be paid)
MISCELLANEOUS COMMENTARY: Purchased from private individual - one owner - very nice


Starting Score: 650 Current Score: EQ:716 (SW Alert 5-7-14) - TU: 698 (5/27/13 SW)Chapter 7 filed 8/2009 - Discharged 12/2009 Goal Score: 750
Joined the garden again 12/5/13
In the garden till at least 5/1/14
New Contributor
Paperboy999
Posts: 73
Registered: ‎10-06-2012
0

Re: Auto Loan Approvals!

PPROVING BANK:ally
BUREAU PULLED:unknown
CREDIT SCORE: 785ish
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED:New
YEAR OF VEHICLE: 2013
MAKE: Cadillac
MODEL: Escalade platinum
MILEAGE: 4
RETAIL/LEASE: retail
AMOUNT OF LOAN: 70xxx
TERM CONTRACTED: 36 months
APR/LEASE RATE: 0.0
MONTHLY PAYMENT: 1954.00
ANNUAL INCOME: 300
DEBT TO INCOME RATIO: less than 25%
MISCELLANEOUS COMMENTARY:
This is my gfs new car. We paid 76,800 plus 1500 for paint and interior warranty, her idea. I told her to practice saying NO all day before seeing the finance guy. We got a good price on the truck but only got 13500 for a 2007 pathfinder. I thought we should have gotten closer to 15000 so I was going to sell it pruvately. Then the dealer said that the money from the trade in isn't taxable. So we were really getting somewhere around 14700, getting an extra 1300 or so from a private sale wasn't worth it. We picked it up last night. Its a very nice truck, worth the 83000 sticker, probably not but still very nice.
11/09 EX 564
10/12 EX 673 TU 674
1/13 TU 686
2/13 EX 701
Goal 750+
Established Contributor
dodgeball
Posts: 761
Registered: ‎10-16-2007
0

Re: Auto Loan Approvals!

APPROVING BANK: NFCU
BUREAU PULLED: Equifax
CREDIT SCORE: 701
CUSTOMER STATE OF RESIDENCE: ARMY EUROPE
NEW/USED: NEW
YEAR OF VEHICLE: 2013
MAKE: BMW
MODEL: 328I
MILEAGE: 0
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 40K
TERM CONTRACTED: 84 MNTHS
APR/LEASE RATE: 3.74%
MONTHLY PAYMENT: 460.00
ANNUAL INCOME: 80,000
DEBT TO INCOME RATIO: 5%
MISCELLANEOUS COMMENTARY:

NFCU Cash Rewards Siggy $22k, NFCU Flagship Rewards Siggy $22K, NFCU Platinum MC $20K, USAA Amex Rewards $6k, USAA World Mastercard Rewards $6k, NFCU Navcheck $15k

Other Cards - Citibank AAdvantage, Chase Slate, Barclays Rewards,


IN THE GARDEN UNTIL APRIL 2014

NFCU FAN CLUB MEMBER #1









Chase Star Card
NFCU FAN CLUB FAN#1
Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
0

Re: Auto Loan Approvals!


Eve23 wrote:

 

APPROVING BANK: Bank of America
BUREAU PULLED: EX
CREDIT SCORE: 734
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: NEW
YEAR OF VEHICLE: 2013
MAKE: Lexus
MODEL: IS 250
MILEAGE: N/A
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 35K
TERM CONTRACTED: 60
APR/LEASE RATE: 2.49%
MONTHLY PAYMENT: N/A ( Haven't bought yet )
ANNUAL INCOME: 74.4K
MISCELLANEOUS COMMENTARY: This is only my first attempt and also my very first loan. I was dreading for the past few weeks. I have to say, Bofa is just awesome. I have been approved in 2 mins. Followed by a quick identity verification by phone; (Did not ask for income verification). Lastly, they sent me a approval letter to take to a dealer. I'm not planning on using the full amount of the loan. However, they said if I did, my monthly payment would be $621. 

 

I am very excited! I didn't think I would get approved since I don't have any installment pay. I only have 2 CC, pretty much it. I thought I put that in there so others (like me) that has no experience and first timer can have more insight on the process.

 

I don't plan on asking anyone else. I already feel that I got the best deal, due to my thin credit file. 

 

Thanks to anyone that answered my newbie questions. :smileyhappy: Good Luck.   PS: I will definitely update on my final deal and car!


You should still give the dealer a chance to beat the rate.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
0

Re: Auto Loan Approvals!


jk26978 wrote:

APPROVING BANK: Atomic Credit Union
BUREAU PULLED: 
CREDIT SCORE: 694 (said I was Tier B - very excited - not even 4 years since BK 7 filing)
CUSTOMER STATE OF RESIDENCE: Ohio
NEW/USED: Used
YEAR OF VEHICLE: 2000
MAKE: Dodge
MODEL: Ram 1500 Laramie SLT magnum
MILEAGE: 62,208
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 5495.67
TERM CONTRACTED: 48 mos
APR/LEASE RATE: 4.99%
MONTHLY PAYMENT: 126.57
ANNUAL INCOME: $23,000.00 (myself - did not include fiancés - but he will help with pmt)
DEBT TO INCOME RATIO: 5.16%  (only for a few more months then will be lower - one bill will be paid)
MISCELLANEOUS COMMENTARY: Purchased from private individual - one owner - very nice


Wow, it is almost new. Hardly any miles on it for being 13 years old. Looks like a sweet deal. Congrats.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
New Member
steelersguy
Posts: 1
Registered: ‎04-10-2013
0

Auto Loan Approvals!

APPROVING BANK:   American Honda Finance Corp
BUREAU PULLED:     Equifax 
CREDIT SCORE:         662
CUSTOMER STATE OF RESIDENCE:     MD
NEW/USED:                 New 
YEAR OF VEHICLE:   2013
MAKE:          HONDA        
MODEL:       ACCORD EX-L 4 Cyl 
MILEAGE:    0
RETAIL/LEASE:          RETAIL
AMOUNT OF LOAN:  $25000

DOWN PAYMENT:    $2600
TERM CONTRACTED:  60 Months
APR/LEASE RATE:    1.9%
MONTHLY PAYMENT:  $437.10
ANNUAL INCOME:     85K
DEBT TO INCOME RATIO:  Less than 1%.
MISCELLANEOUS COMMENTARY: I applied a loan for the same car in the month of Feb 2013 and got rejected by two credit unions and another credit union offered me only $15000 at 8.95% and asked me to make a down payment of $12500. All three credit unions, which rejected my loan applications listed my Equifax score as 598 at that time. I have a couple of charge-offs on my report from 5 years ago. Also, at that time, the credit utilization rate on all of my credit cards was above 95%. So, I cleared off the balances on all my cards and got the credit utilization rate to 9%. And voilà, my Equifax score went up to 662 (and myFICO score went up to 671) in the span of 2 months. With this, I applied for Honda Finance Loan, and as they have a Spring Sales event right now, they cut the retail price by $500 and offered 1.9% for a $25000 loan for 60 months. :smileyhappy:

Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
0

Re: Auto Loan Approvals!


steelersguy wrote:

APPROVING BANK:   American Honda Finance Corp
BUREAU PULLED:     Equifax 
CREDIT SCORE:         662
CUSTOMER STATE OF RESIDENCE:     MD
NEW/USED:                 New 
YEAR OF VEHICLE:   2013
MAKE:          HONDA        
MODEL:       ACCORD EX-L 4 Cyl 
MILEAGE:    0
RETAIL/LEASE:          RETAIL
AMOUNT OF LOAN:  $25000

DOWN PAYMENT:    $2600
TERM CONTRACTED:  60 Months
APR/LEASE RATE:    1.9%
MONTHLY PAYMENT:  $437.10
ANNUAL INCOME:     85K
DEBT TO INCOME RATIO:  Less than 1%.
MISCELLANEOUS COMMENTARY: I applied a loan for the same car in the month of Feb 2013 and got rejected by two credit unions and another credit union offered me only $15000 at 8.95% and asked me to make a down payment of $12500. All three credit unions, which rejected my loan applications listed my Equifax score as 598 at that time. I have a couple of charge-offs on my report from 5 years ago. Also, at that time, the credit utilization rate on all of my credit cards was above 95%. So, I cleared off the balances on all my cards and got the credit utilization rate to 9%. And voilà, my Equifax score went up to 662 (and myFICO score went up to 671) in the span of 2 months. With this, I applied for Honda Finance Loan, and as they have a Spring Sales event right now, they cut the retail price by $500 and offered 1.9% for a $25000 loan for 60 months. :smileyhappy:


Great terms for your credit score!

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
New Contributor
darkknight59
Posts: 61
Registered: ‎02-23-2011
0

Re: Auto Loan Approvals!

APPROVING BANK: NFCU
BUREAU PULLED: Not sure yet
CREDIT SCORE: MyFico has EQ of 692 & TU of 680
CUSTOMER STATE OF RESIDENCE: Texas
NEW/USED:  Late model Used
YEAR OF VEHICLE: 2012 or Newer
MAKE: MB 
MODEL: SLK 250
MILEAGE: 5,900
RETAIL/LEASE: Retail
AMOUNT OF LOAN: Requested and approved for $42,500
TERM CONTRACTED: up to 72 mnth
APR/LEASE RATE: 2.99 @72 for late model used (2012 up)
MONTHLY PAYMENT: up to $652.88 with GAP
ANNUAL INCOME: 125,000 base
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: Chapter 13 was discharged on 3/25/13, Went to Carmax to trade in my 05 BMW clear title at $7,000. looking at 2011 BMW they had  priced at $41900. Best offer was for 7.5% @ 72 months with $5,500 cash. Went home and applied to NFCU who I've been with for about 2 years, do 95% of banking with them with DD and was approved for requested amount of $42,500. There was a 2012 MB SLK 250 at another dealership that I have my eye on with 5,900 miles and loaded at $43,950 that will go look at today, will be great to walk into the dealership equiped with this approval!!! NFCU... You Rock!! :smileyvery-happy:

Chapter 13 Discharged March 2013 Falls off Feb 2015!!711 Powered by Equifax data as of Dec 4, 2014, 790 Powered by TransUnion data BK was deleted!! Dec 2014, 761 Powered by Experian data as of Dec 12, 2014 BK deleted
NASA FCU 25000 NFCU Platinum 22000, Chase Freedom 17000, Amex Every Day 15000, Amex Costco 15000, NFCU LOC 15,000,Tobyhanna Via Premier 10,000, BOA Cash Rewards 7700, Barkclay Apple 6000 Amazon Store 4600, Paypal SC 4467 Capt 1 Quicksilver 3500, Care Credit 3300, Barclay Rewards 1500 BML 1350

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