Auto Loan Approvals!

[premo421]

APPROVING BANK: MCU Credit Union BUREAU PULLED: Experian CREDIT SCORE: 702 EX CUSTOMER STATE OF RESIDENCE: NY NEW/USED: USED YEAR OF VEHICLE: 2010 MAKE: INFINITI MODEL: G37X SPORT sedan MILEAGE: 68000 AMOUNT OF LOAN: 20K TERMS CONTRACTED: 72 APR/LEASE: 4.5% MONTHLY PAYMENT: $305 (GAP INCLUDED) ANNUAL INCOME: 40K MIS COMMENTARY: Very first auto loan.. didnt even have a year of history yet (only 9months and i feel i got a good rate.. credit unions are the way to go. also got approved for a credit card with $3000 limit with same hard pull for the car loan.

[sekada]

So what score did DCU use and what was your score?  That's pretty sweet! 

[premo421]

sekada if u are referring to my post, it was not DCU it was Municipal Credit union in NY.. they pulled Experian and said i had a 702 FICO at the time

[sekada]

Ooops no, but congratulations anyway!

[12njoy]

APPROVING BANK: DCU
BUREAU PULLED: Equifax
CREDIT SCORE:681
CUSTOMER STATE OF RESIDENCE: OH
NEW/USED: NEW (Refinance)
YEAR OF VEHICLE: 2014
MAKE: Honda
MODEL: Accord Sport
MILEAGE: 1,600
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $26,800

TERM CONTRACTED: 84 mos
APR/LEASE RATE: 3.74 with direct deposit
MONTHLY PAYMENT: $363
ANNUAL INCOME: $64000
DEBT TO INCOME RATIO: about 1% 
MISCELLANEOUS COMMENTARY:

DCU approved refinance, but I declined as my payment now is $373 with USAA with a rate of 3.9%.  I can request up to a .5 or .75% interest rate reduction in six months so it's pretty useless for me to refinance with DCU at this point.  Things that hurt my rate with DCU were all the new cards that I've opened in the last 8-9 months.  They were pretty blown away at that   Their application process was quite detailed.  I was very surprised about some of the questions asked (i.e. how long will you receive child support, year/make/model/value of vehicles owned free and clear, why do you have 3 cars).  It's certainly there perogative to ask, but I wasn't prepared for those questions since I've never been asked them before.  On a side note, csr said he tried to see if he could get me a credit card with DCU, but underwriter said why do I need any more credit 

[reckedhim]

APPROVING BANK: DCU
BUREAU PULLED: EQ
CREDIT SCORE: 701
CUSTOMER STATE OF RESIDENCE: WI
NEW/USED: Used
YEAR OF VEHICLE: 2007
MAKE: BMW
MODEL: 335i sedan
MILEAGE: 30,000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $14,349
TERM CONTRACTED: 65 months
APR/LEASE RATE: 1.24%
MONTHLY PAYMENT: $228
ANNUAL INCOME: $54,000
DEBT TO INCOME RATIO: ?
MISCELLANEOUS COMMENTARY: I got the vehicle for about $17,600 and had a trade in of $4,000.  Because of the myfico forums I've been able to raise my credit score from the low 600's to over 700 in less than a year.  I now have a clean credit record and was very happy about scoring a great deal on the car and financing.

[BIFM]

APPROVING BANK: Bank of America
BUREAU PULLED: Equifax
CREDIT SCORE: 755
CUSTOMER STATE OF RESIDENCE: TN
NEW/USED: USED
YEAR OF VEHICLE: 2010

MAKE: Cadillac

MODEL: CTS-V
MILEAGE: 1,372
RETAIL/LEASE:Retail
AMOUNT OF LOAN: 37,000
TERM CONTRACTED: 72 months
APR/LEASE RATE: 2.74
MONTHLY PAYMENT: 557.87

ANNUAL INCOME: 42,500
MISCELLANEOUS COMMENTARY:  Bought the car through a dealer but finance could only get 2.94% there.  Also got approved through AAA at 2.09% for the same term, however they could only give 34,000 and DCU could only give 33,000, so I had to go through Bank of America.  BoA was originally at 2.89% but they agreed to give me the .15% customer discount even though I don't bank with them (told them I would so he adjusted rate).

[TRC2k13]

APPROVING BANK: BECU (Boeing Employee's Credit Union)
BUREAU PULLED: Transunion
CREDIT SCORE:664
CUSTOMER STATE OF RESIDENCE: WA
NEW/USED: USED (Refinance)
YEAR OF VEHICLE: 2012
MAKE: Dodge
MODEL: Charger
MILEAGE: 37,800
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $20,200

TERM CONTRACTED: 60 months

APR/LEASE RATE: 3.99%
MONTHLY PAYMENT: $373
ANNUAL INCOME: $83,000
DEBT TO INCOME RATIO: ??? 
MISCELLANEOUS COMMENTARY:

I came out of Ch 13 a year ago and got a pretty craptastic 8.9% rate on my car loan... payment of $460 per month.  My credit union BECU gave me a $7k Visa in December and came through again today with a refinancing of my car loan...

My payment is now $373 and I am saving $5,400 over the course of the loan!  Thanks BECU!

[sekada]

APPROVING BANK: Chase (Mazda pulled for their financing special)
BUREAU PULLED: Equifax
CREDIT SCORE: 708 auto-enhanced; 665 regular 
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: NEW
YEAR OF VEHICLE: 2014
MAKE: Mazda
MODEL: Mazda3 S Grand Touring 
MILEAGE: 98
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $27,000 incl tax/tag/title and gap 

TERM CONTRACTED: 60 months

APR/LEASE RATE: 1.9%
MONTHLY PAYMENT: $470
ANNUAL INCOME: $102,000
DEBT TO INCOME RATIO:  Around 30%  
MISCELLANEOUS COMMENTARY:  No down payment needed, hooray!

Thanks to everybody for your advice! 

[Remember0]

How much was dealer gap? You should compare it to your auto insurance company (call and ask for a quote). Typically the dealer is like $200-$400 more expensive...if so read the contract, you can often cancel dealer GAP within 60 days or so.