Reply
Valued Member
mal007colm
Posts: 34
Registered: ‎03-24-2009

Re: Auto Loan Approvals!

APPROVING BANK: Volkswagen Financial
BUREAU PULLED: Equifax
CREDIT SCORE: 748
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: Used
YEAR OF VEHICLE: 2013
MAKE: Volskwagen
MODEL: Passat
MILEAGE: 7,580
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 25.495
TERM CONTRACTED: 72 months
APR/LEASE RATE: 2.64%
MONTHLY PAYMENT: 380
MISCELLANEOUS COMMENTARY: The car was used to ferry customers at the dealership, only 7k miles so we got 8k off. Had Sunroof, Navigation with Bluetooth and Sirius XM


Starting Score: TU 560
Current Score: TU 750 EQ 731 EX 728?
Goal Score: TU 750+ EQ 750+


Take the FICO Fitness Challenge
New Visitor
EdOz
Posts: 1
Registered: ‎08-26-2013

Re: Auto Loan Approvals!

[ Edited ]

Holy heck, tonight I am floored.

 

APPROVING BANK: Capital One Auto Finance
BUREAU PULLED: Experian (from questions asked during verification)
CREDIT SCORE: ~570 (PSECU Experian)
CUSTOMER STATE OF RESIDENCE: PA
NEW/USED: USED
YEAR OF VEHICLE: 2010
MAKE: VW
MODEL: GTI
MILEAGE: - 
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: $18000
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 10.59
MONTHLY PAYMENT: -
ANNUAL INCOME: $37,000
DEBT TO INCOME RATIO: ~10%
MISCELLANEOUS COMMENTARY: Wow, unbelievable. After tough times trying to even get another charge card, Capital One is approving me for up to $18,000 out 60 months starting at 9.9%. This comes with a host of CO's from 2010, a few collections (also from that period), and even a recent 60 day late due to some issues with my college loans. Should say i just paid off a car loan in March from Santander which i had co-signed (8.9 apr, 6 years), and a solid 14 months of all on time payments with Cap One's basic semi-secured card. Asked for $15,000. Expected a rate of at least 13% if not more. I think my auto credit is what saved my behind here, and my relatively flawless recent credit. Folks there is hope. Car listed is what i'm aiming for. Feel like i have REAL bargaining power heading into the dealership now with such a stellar rate for my credit score! i'll keep you updated! No co-signer, thank you CapOne, all i need to do is prove residency!

New Contributor
Ditovera
Posts: 50
Registered: ‎11-28-2012

Re: Auto Loan Approvals!


EdOz wrote:

Holy heck, tonight I am floored.

 

APPROVING BANK: Capital One Auto Finance
BUREAU PULLED: Experian (from questions asked during verification)
CREDIT SCORE: ~570 (PSECU Experian)
CUSTOMER STATE OF RESIDENCE: PA
NEW/USED: USED
YEAR OF VEHICLE: 2010
MAKE: VW
MODEL: GTI
MILEAGE: - 
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: $18000
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 10.59
MONTHLY PAYMENT: -
ANNUAL INCOME: $37,000
DEBT TO INCOME RATIO: ~10%
MISCELLANEOUS COMMENTARY: Wow, unbelievable. After tough times trying to even get another charge card, Capital One is approving me for up to $18,000 out 60 months starting at 9.9%. This comes with a host of CO's from 2010, a few collections (also from that period), and even a recent 60 day late due to some issues with my college loans. Should say i just paid off a car loan in March from Santander which i had co-signed (8.9 apr, 6 years), and a solid 14 months of all on time payments with Cap One's basic semi-secured card. Asked for $15,000. Expected a rate of at least 13% if not more. I think my auto credit is what saved my behind here, and my relatively flawless recent credit. Folks there is hope. Car listed is what i'm aiming for. Feel like i have REAL bargaining power heading into the dealership now with such a stellar rate for my credit score! i'll keep you updated! No co-signer, thank you CapOne, all i need to do is prove residency!


I can almost guarantee you dealer will beat that rate if you make them compete!. 

Fico EQ-692 (08/24/2013)EX-690 (08/24/2013) TU-700(08/24/2013

CSP 6000 // Amex BCE 9600 // Macy's Amex 4500 // USAA WMC 6000 //CaponeQS 1750 // Discover it 1500 //Jamesallen 1800
Frequent Contributor
LionLaw
Posts: 258
Registered: ‎06-10-2012

Re: Auto Loan Approvals!

Approved for a new Mercedes with 2.99% for 60 months and $0 at signing!

 

APPROVING BANK: Bank of America
BUREAU PULLED: Experian
CREDIT SCORE: 706
CUSTOMER STATE OF RESIDENCE: Delaware
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Mercedes-Benz
MODEL: C250
AMOUNT OF LOAN: $35,562
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 2.99%
MONTHLY PAYMENT: $639.60
ANNUAL INCOME: $160,000
MISCELLANEOUS COMMENTARY:  Very pleased with the rate on this loan.  Apparently it's BOA's best rate; I went to go get a free adverse action report from Experian, and they said I wasn't eligible, even though I confirmed that BOA pulled EX (credit sesame notified me of the HP).  Also pleased that I was able to finance the total cost of the car (less a $500 deposit), since I've still got student debt I'm paying off; I can take the cash I was going to use for a down payment and throw it at some higher-interest debt instead!

 

Lastly, I'm also pretty pleased with my scores.  I didn't have a lot of time to plan this in advance, so I let a high balance report on one of my 4 CCs (small balance on one other, last two are at $0); I thought that would weigh me down significantly, but all 3 of my scores were right around 700.


Starting Score: 617 (EQ 6/10/12)
Current Score (8/28/13): EQ: 691 EX: 706 TU: 700
Goal Score: 700

Discover it $4,500 (02/2001); Amex PRG (Backdated to 01/2006); Amex ZYNC (Backdated to 07/2006); Wells Fargo Cash Back Visa $5,500 (12/2011); Citi Diamond Preferred MC $2,000 (07/2012); B of A Cash Rewards Visa Signature $5,000 (02/2013)

New Visitor
onedaysoon
Posts: 1
Registered: ‎08-28-2013

Re: Auto Loan Approvals!

APPROVING BANK:  Capital One
BUREAU PULLED:  Experian
CREDIT SCORE:  604
CUSTOMER STATE OF RESIDENCE:  TX
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Chevrolet
MODEL:  Malibu 1LT
MILEAGE: 2
RETAIL/LEASE: Retail
AMOUNT OF LOAN:  $29000
TERM CONTRACTED:  72 months
APR/LEASE RATE:  13.75
MONTHLY PAYMENT: 592
ANNUAL INCOME:  $55K+
DEBT TO INCOME RATIO:  ?
MISCELLANEOUS COMMENTARY:  Two months after completing Chapter 13, I am literally floored at how low the interest rate was. I was expecting 20% or higher due to my circumstances.   Another dealership, quoted 18%.  Being that it is so soon after discharge, I am totally satisfied with the interest rate and plan to refinance in 6 months to a year.  I also have the Premium extended warranty and gap insurance.  Added a few options as well.  Love this car!  Has all the features I wanted for my fresh start.

New Member
mshopkins
Posts: 3
Registered: ‎08-27-2013

Re: Auto Loan Approvals!

APPROVING BANK: Capital One
BUREAU PULLED: Not sure yet 
CREDIT SCORE:  Equifax - 569 Experian - 558 Transunion 528
CUSTOMER STATE OF RESIDENCE: MI
APR/LEASE RATE: 2013 or newer 8.54%

MONTHLY PAYMENT:
ANNUAL INCOME: 52000.00
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY:

Applied just to see.   BK discharged July 2013!  Haven't found a car so not sure of the exact amount payment and terms.   Requested 25,000.00  Very surprised by the first rate offer considering recent BK.



"http://ficoforums.myfico.com/html/assets/challenge.png"
"BK Ch7 Discharged 7/13"
Starting Score: Equifax - 569 Experian - 558 Transunion 528
Current Score: Credit Karma 589 Quizzle 645
Goal Score: 750 across the board
Take the myFICO Fitness Challenge
Established Member
MMTT31
Posts: 37
Registered: ‎05-09-2013

Re: Auto Loan Approvals!

APPROVING BANK: Ford Credit
BUREAU PULLED: Experian,Transunion
CREDIT SCORE: 7??
CUSTOMER STATE OF RESIDENCE: Florida
NEW/USED: Used
YEAR OF VEHICLE: 2012
MAKE: Ford
MODEL: Fiesta SEL (CPO)
AMOUNT OF LOAN: $10,500
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 1.9
MONTHLY PAYMENT: $184.74
ANNUAL INCOME: $25,500
MISCELLANEOUS COMMENTARY: Originally approved through Penfed at the same rate but went with Ford Credit (still have Penfed's credit card to build a relationship). To buy this car took 3 days, the first I went to see the car and told them I was pre-approved already. We talked numbers but didn't like the numbers they were giving me, so they told me to come the next day. I came back and once again we crunched numbers and they still weren't giving me the numbers I wanted. They finally gave me the numbers I wanted (or so I thought), but when I was carefully reading the contract I realized to get to the numbers I wanted they didn't add the tag fee, so they were basically trying to screw me. After reading this and having a confrontaion with the manager I walked out and left. On the 3rd day they called me 2 hours before they closed telling me they would give me 100 bucks more for my car (amounted to what I was asking privately) plus they took 500 bucks of the car and since it was the last day of the month and I was there till about 10 they even paid my first month of insurance and since it's a CPO I got a 3 months of Sirius Sattelite radio and a tank of gas. I am only 23,  a recent college grad and a first time buyer and I am honestly very proud that I stood my ground and that I did this whole process on my own without having to rely on my parents. For anyone seeking advice the best advice I can give is stand your ground, buy something WITHIN your means, research ahead of time and get your pre-approvels before you even step into the dealership.

Regular Contributor
Give_Me_Credit_Please
Posts: 232
Registered: ‎12-11-2012

Re: Auto Loan Approvals!

APPROVING BANK: Nissan Financial
BUREAU PULLED: ?
CREDIT SCORE: 618
CUSTOMER STATE OF RESIDENCE: New Jersey
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Nissan
MODEL: Altima
AMOUNT OF LOAN: $25,000
TERM CONTRACTED: 72 Months
APR/LEASE RATE: 12%
MONTHLY PAYMENT: $590.00
ANNUAL INCOME: $45,000

New Member
Colorism
Posts: 5
Registered: ‎08-20-2013

Re: Auto Loan Approvals!

[ Edited ]

APPROVING BANK:  DCU
BUREAU PULLED:  Experian/Equifax
CREDIT SCORE:  657
CUSTOMER STATE OF RESIDENCE:  MO
NEW/USED: Used
YEAR OF VEHICLE: 2011
MAKE: Audi
MODEL:  TT-S
MILEAGE: 10k
RETAIL/LEASE: Retail
AMOUNT OF LOAN:  $26000
TERM CONTRACTED:  36 months
APR/LEASE RATE:  5.9%
MONTHLY PAYMENT: $792
ANNUAL INCOME:  $110k
DEBT TO INCOME RATIO:  ?

DOWNPAYMENT:15k

TOTAL COST:41k
MISCELLANEOUS COMMENTARY: My first auto loan, first sizeable loan of any kind. New credit. Could not get approved for any amount from major banks (Chase, Capital, Wells Fargo, etc)

 

Very excited about the car, DCU was fairly easy to work with, and I feel like the APR I got was very reasonable for someone with almost zero credit history and only 6 months in new city and new job.

New Member
slb12330
Posts: 4
Registered: ‎03-14-2013

Re: Auto Loan Approvals!

This thread is to be used for your Auto Loan Approvals just copy and paste!
 
APPROVING BANK: Capital One Auto Finance (Blank Check Program)
BUREAU PULLED: EQ/EX/TU
CREDIT SCORE: Per myfico... EX 634  EQ 637 TU 650
CUSTOMER STATE OF RESIDENCE: NV
NEW/USED: Used
YEAR OF VEHICLE: 2012
MAKE: VW
MODEL: Passat SE
MILEAGE: 27,200
RETAIL/LEASE: Loan
AMOUNT OF LOAN: 21,353
TERM CONTRACTED: 72 mo
APR/LEASE RATE: 6.05%
MONTHLY PAYMENT: 356.58
ANNUAL INCOME: $59,700
DEBT TO INCOME RATIO: 25
MISCELLANEOUS COMMENTARY:  Carmax bought my 2004 Toyota with 149,770 miles that had a damaged bumper and some additional work needed for $4,000. KBB was $2,150. Very happy with the deal!

Starting: EQ 498
Current: EQ 652 (4/24/13) TU 662 (4/22/13) EX 630 (4/12/13)
Goal: over 700 across the board!



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+