Reply
Established Member
armedxwithxaxmind
Posts: 20
Registered: ‎05-03-2013
0

Re: Auto Loan Approvals!

APPROVING BANK: Capital One
BUREAU PULLED: Experian
CREDIT SCORE: 676
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: Used
YEAR OF VEHICLE: 2011
MAKE: Chevrolet
MODEL: Aveo LT
MILEAGE: 36,520
RETAIL/LEASE: $13,990, lowered it to $13,190
AMOUNT OF LOAN: $14,242.60
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 14.99%
MONTHLY PAYMENT: $340.87
ANNUAL INCOME: $23,000
MISCELLANEOUS COMMENTARY: Just actually got called back to the dealer, they found me a credit union that would give me a loan at 3.49% apr & lowered my monthly payments to $300.54 a month if I accepted GAP insurance & a full warrenty to cover 100% of any damage or car failure. So I think I did good for a first time buyer :smileyhappy:

Starting Score: TU-685 (MyFico) EQ-634 (myFico) EX-685 (FAKO From Experian)
Current Score: TU-685 (MyFico) EQ-634 (myFico) EX-715 (FICO pulled by Mission Fed 6/12/14)
Goal Score: 750+ on all

Current Cards: Mission Fed CU $5K, Fingerhut $3,450K, Amex BCP $2k, CareCredit $2k, Captial One QS $1.5k, USE CU $1k
Member
C7LT1
Posts: 19
Registered: ‎05-14-2013
0

Re: Auto Loan Approvals!


armedxwithxaxmind wrote:

MISCELLANEOUS COMMENTARY: Just actually got called back to the dealer, they found me a credit union that would give me a loan at 3.49% apr & lowered my monthly payments to $300.54 a month if I accepted GAP insurance & a full warrenty to cover 100% of any damage or car failure. So I think I did good for a first time buyer :smileyhappy:


I think I would need to go down to the dealer and see where they said you have to buy and extended warranty. Gap I can understand but not the warranty. I am not saying warranties are bad but be very careful with the extended warranty and make sure you are getting the best price. I would get some online quotes from 3rd party companies to compare with the dealer. This is only if the CU said they will only finance you if you buy an extended warranty which I doubt that they said. Check out USAA https://www.usaa.com/inet/pages/extended_vehicle_protection_program_main_page?akredirect=true

New Member
bull75
Posts: 1
Registered: ‎11-26-2012
0

Re: Auto Loan Approvals!

[ Edited ]

APPROVING BANK: ALLY
BUREAU PULLED: TU
CREDIT SCORE:EX 650 TU 653 EQ675
CUSTOMER STATE OF RESIDENCE: IL
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: VW
MODEL: JETTA SE
MILEAGE: NEW
RETAIL/LEASE: BUY
AMOUNT OF LOAN: 23500 ZERO DOWN :smileyhappy: includes extended bumper2bumper for 6yrs
TERM CONTRACTED: 72
APR/LEASE RATE: 6.99
MONTHLY PAYMENT: 400.78
ANNUAL INCOME: 96000

 

Was preapproved by cap1 blank check for used up to 18k @ 7.8% 110% LTV pulled all three CR, also got preapproved by roadloans used up to 36k 8.8% with 3500 down or 11.4% with ZERO down 128% LTV they pulled EX,  found new left over 2012

jetta SE reduced to 19500 from 22800 sticker. Agreed to buy car for price knowing I was preapproved then made dealership finance guy go to work getting me way better rate 6.99 with ZERO down included extended warranty in loan thru ALLY they pulled TU.  Truly sign and drive!!  I have 3 collections on experian 2 on trans union and clean EQ. Ive needed a new car sooo bad and have been scared of being declined for financing, I started here in Nov with a 570 score it is now 675 and climbing  woohoo. A big thanks to this forum........

Contributor
mzware
Posts: 85
Registered: ‎09-26-2012
0

Re: Auto Loan Approvals!

APPROVING BANK:Navy Federal Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE:624
CUSTOMER STATE OF RESIDENCE: NKY
NEW/USED: NEW
YEAR OF VEHICLE:2013
MAKE:Toyota
MODEL: Camry
MILEAGE:8
RETAIL/LEASE:Retail
AMOUNT OF LOAN:34800
TERM CONTRACTED: 60 months
APR/LEASE RATE: 4.7 
MONTHLY PAYMENT: 640 
MISCELLANEOUS COMMENTARY: Recently discharged from a 5 year CH 13 plan
Goal Score: 700 Across the Board











Contributor
drboxing
Posts: 88
Registered: ‎09-19-2012
0

Re: Auto Loan Approvals!

How long did it take for u to receive discharge, how long were u discharged before u were able to get a new vehicle? I just completed my 5 year repayment plan, 1 week ago. Appreciate any info

Starting Score: TU 614 EX584
Current Score: TU 650/EX 650 (Walmart)
Goal Score: 710


Take the FICO Fitness Challenge
Regular Contributor
PleioneG
Posts: 114
Registered: ‎08-29-2012
0

Re: Auto Loan Approvals!

[ Edited ]
APPROVING BANK: TruMark Financial Credit Union
BUREAU PULLED: Transunion
CREDIT SCORE: 680 at the time if I recall correctly.
CUSTOMER STATE OF RESIDENCE: PA
NEW/USED: NEW
YEAR OF VEHICLE:2014
MAKE: Chevrolet
MODEL: Impala
MILEAGE:6
RETAIL/LEASE:Retail
AMOUNT OF LOAN:33,000
TERM CONTRACTED: 84 months
APR/LEASE RATE: 4.4
MONTHLY PAYMENT: 490
MISCELLANEOUS COMMENTARY: Originally we had the warranty on there so it was around 35,900 with 2,000 down. We decided to take it off because it's not worth it for a new car that's covered for three years. We'll buy one later down the line for cheaper. I learned my lesson with the other car regarding warranties. Overpriced to hell and back. They REALLY push it on you. Thankfully, we went in already approved by a bank that also gives free GAP coverage. They asked the rating to see if they could beat it ... nope. I mean if they could have got us something lower that would have been great, but I like our credit union. They've been wonderful to us thus far. (:

Wallet: Capital One Platinum - $2000, Amazon - $3000, Walmart - $3000, Discover It - $1000, Chase Freedom - $3000
Current Score: TU98: 678 - 2/2012, Walmart TU - 672 2/2013, Equifax 713 - 1/2013
Goal Score: 700 for all three.
GC Challenge: App free since 1/2013. No more apps! 2015 for mortgage!
Member
Markus2287
Posts: 7
Registered: ‎05-16-2013
0

Re: Auto Loan Approvals!

Be careful about the warranties and other products people. You never "have" to purchase any of that. In fact its illegal to tell you that you must purchase anything like that including Gap. Gap is agood idea if your loan to value is above 100% but you should never pay more than $350 at the most for gap.

Warranty prices vary but they are hugely negotiable. Typically when I sell warranties, Ill mark the price up 300% or more and I consider that conservative. Gap is usually marked up 100%

Ask me any question you want. Ill be happy to explain anything.

Starting Score: 640
Current Score: 640
Goal Score: 750


Take the myFICO Fitness Challenge
Contributor
mzware
Posts: 85
Registered: ‎09-26-2012
0

Re: Auto Loan Approvals!

I made my last payment in the middle of Mar. I was discharged 30 Apr. I applied with NFCU 15 May. Also my credit report was updated quickly. I received an alert May 3rd in reference to my CH 13 discharge. Hope this helps
Goal Score: 700 Across the Board











Established Member
Razor_Poke
Posts: 14
Registered: ‎04-05-2011
0

Re: Auto Loan Approvals!

APPROVING BANK:  Honda Finance
BUREAU PULLED:  Equifax
CREDIT SCORE:  672
CUSTOMER STATE OF RESIDENCE: Oklahoma
NEW/USED:  New
YEAR OF VEHICLE:  2013
MAKE:  Honda
MODEL:  Pilot EX-L
MILEAGE:  25
RETAIL/LEASE:  Retail
AMOUNT OF LOAN:  $31,073
TERM CONTRACTED:  72
APR/LEASE RATE:  3.49
MONTHLY PAYMENT:  $478
ANNUAL INCOME:  $110K
DEBT TO INCOME RATIO:  41% (post new loan)
MISCELLANEOUS COMMENTARY:  Walked in with 4.39% / 72 from BofA but Honda beat it.  I was hoping for 0.9 / 60 but I knew my scores were going to come up a litte short and they did.

Established Member
mrsbagalot1222
Posts: 29
Registered: ‎07-05-2010
0

Re: Auto Loan Approvals!

APPROVING BANK: Mercedes Benz Financial
BUREAU PULLED: TU
CREDIT SCORE: 740
CUSTOMER STATE OF RESIDENCE: New Jersey
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Mercedes Benz
MODEL:C300 Sport 4Matic
MILEAGE:0
RETAIL/LEASE:$43,000
AMOUNT OF LOAN:
TERM CONTRACTED: 48 months
APR/LEASE RATE: 2.4%
MONTHLY PAYMENT: $369/month
ANNUAL INCOME: $92,000
MISCELLANEOUS COMMENTARY: Traded in our 2009 C-300

~Current Wallet: NFCU Signature CashRewards Visa $5000/AAFES Military Star Card $3600/NFCU NavCheck $1500/Applied Bank $700/Amazon GE $700/Walmart GE $500/Credit One $500/Paypal Smart Connect $300/Orchard Bank: $300/WFNNB-Comenity Bank:Victoria's Secret $300/Express $250/New York&Company $250~

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+