Auto Loan Approvals!

[1083690]

APPROVING BANK: DCU
BUREAU PULLED: EQ
CREDIT SCORE: 711
CUSTOMER STATE OF RESIDENCE: AZ
NEW/USED: USED
YEAR OF VEHICLE: 2012
MAKE: MINI
MODEL: COUNTRYMAN S
MILEAGE: 25,000
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: $22,000 (Approved for $30K)
TERM CONTRACTED: 65 Months
APR/LEASE RATE: 1.24%
MONTHLY PAYMENT: $350
ANNUAL INCOME: $90K
DEBT TO INCOME RATIO: 6%
MISCELLANEOUS COMMENTARY:
Also approved for the Visa Credit Card with $7500 CL

[CH2022]

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@1083690 wrote:

APPROVING BANK: DCU
BUREAU PULLED: EQ
CREDIT SCORE: 711
CUSTOMER STATE OF RESIDENCE: AZ
NEW/USED: USED
YEAR OF VEHICLE: 2012
MAKE: MINI
MODEL: COUNTRYMAN S
MILEAGE: 25,000
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: $22,000 (Approved for $30K)
TERM CONTRACTED: 65 Months
APR/LEASE RATE: 1.24%
MONTHLY PAYMENT: $350
ANNUAL INCOME: $90K
DEBT TO INCOME RATIO: 6%
MISCELLANEOUS COMMENTARY:
Also approved for the Visa Credit Card with $7500 CL

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 Congrats on your aprroval for 1.24 % APR!

I am thinking to apply Auto loan  with DCU,Penfed or  NFCU .All of  my  3 scores will be  around 730+ , Income 90K+, Util : 20% on 100K Credit .

I have membership with all of those 3 CU from 3 yrs . Any suugestions  ? what criteraily they specifically look  for  ?

Car:  2011 AUDI S4;  Price  :38K ;  Mileage : 38K; CPO.

[tre_]

APPROVING BANK: DCU
BUREAU PULLED: EQ
CREDIT SCORE: 657
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Lexus
MODEL: IS250 (F Sports Package)
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $41,500
TERM CONTRACTED: 60
APR/LEASE RATE: 3.74%
MONTHLY PAYMENT: 770 or so
ANNUAL INCOME: 109K
DEBT TO INCOME RATIO: unsure
MISCELLANEOUS COMMENTARY: This is by far the best APR I've been offered. NFCU offered 12.5%. Warning -the customer service reps at DCU aren't the most helpful and you will be on hold forever (an hour for me) to speak with a loan officer. They have a pretty accurate APR calculator on their site: https://www.dcu.org/loans/auto-loans.html#rates 

[Sedanbmw]

Hi haveus33nm3, 

I am in atlanta GA, i was not required to put anything down..i just saved up for a few months and wanted to reduce my payments..also i got my credit card utilization down to 9%.  But i believe capitalone gave me a better rate because of my history with them.. I had once finance a car with them for 12% apr..and i never missed a payment.. Good luck on your goal

[Remember0]

@CH2022: With a 730 and income at that range, I'd start by applying to DCU.

[macuserftw]

APPROVING BANK: WESTLAKE FINANCIAL
BUREAU PULLED: EQ
CREDIT SCORE: 598
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: USED
YEAR OF VEHICLE: 2008
MAKE: TOYOTA
MODEL: PRIUS
MILEAGE: 106,570
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: $11,584
TERM CONTRACTED: 36 Months
APR/LEASE RATE: 25.99%
MONTHLY PAYMENT: $443.58
ANNUAL INCOME: $30K
DEBT TO INCOME RATIO: 6%
MISCELLANEOUS COMMENTARY: It's an absolutely HORRID loan, but I desperately needed a car. My previous car was literally falling apart with $6k in repairs needed to keep it on the road. This was literally the only approval I could get. I can afford the payments without a problem so, I just can't wait to have this paid off in a few years. I was a first time buyer with bad credit, I was fully expecting to get rolled!

[eharley]

APPROVING BANK: Toyota Motor Finance
BUREAU PULLED: EQ
CREDIT SCORE: 754
CUSTOMER STATE OF RESIDENCE: MD
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Toyota
MODEL: Prius
MILEAGE: 57
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 25,700
TERM CONTRACTED: 60 months
APR/LEASE RATE: 0
MONTHLY PAYMENT: 428.33

MISCELLANEOUS COMMENTARY: Put nothing down, and got $1000 back on a 5-year, 0% loan.

[2Hearts1Love]

APPROVING BANK: Ally
BUREAU PULLED: Not sure
CREDIT SCORE: 620
CUSTOMER STATE OF RESIDENCE: IL
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Chevy
MODEL: Malibu 2LT
MILEAGE: 0
RETAIL/LEASE: Finance
AMOUNT OF LOAN: 26,000
TERM CONTRACTED: 72mo
APR/LEASE RATE: 7.8%
MONTHLY PAYMENT: $460-ish
ANNUAL INCOME: Enough
DEBT TO INCOME RATIO: N/A
MISCELLANEOUS COMMENTARY:
I was approved thru Capital One's Blank Check program w/an 8.4% APR. I was ecstatic about that APR considering some baddies on my report and my barely 1 year old BK.
Got to the dealership and the car I wanted (2013 Malibu) was gone. Wasn't looking for a super new car, just gently used. But the opportunity presented itself so I went for it. I traded in my beloved 2006 Malibu that I bought brand new also. But she (yes she) was on her last leg so I kinda had no choice.....IM HAPPY!!! 😊😜

[Princess9483]

Where in FL are you? Did you put any money down? I bought a 2005 Prius Pckg #6, 56k miles, for $10,900 in July with a 580 credit score and 20% down with a 9.74% apr with USF credit union. Refinanced in April and added a mechanical breakdown service plan making it come to $11,012.16 and since my score went up to 616 my new apr is 8.29%, payments now are $272.66. I would suggest waiting 6-12 mos and refinancing. 

[shychi24]

APPROVING BANK:   Hyundai Motor Finance
BUREAU PULLED:   Not sure, forgot to ask
CREDIT SCORE:   713
CUSTOMER STATE OF RESIDENCE:   IL
NEW/USED:   New
YEAR OF VEHICLE:   2014
MAKE:   Hyundai
MODEL:   Sonata GLS with the POP2 package
MILEAGE:  14
RETAIL/LEASE:   Retail
AMOUNT OF LOAN:   $16,345
TERM CONTRACTED:  72... Yes, yes, I know, smh. I will however, double up on payments whenever possible. Plan to have it paid off in 48.
APR/LEASE RATE: 0%
MONTHLY PAYMENT: $225
ANNUAL INCOME:  $52,000
DEBT TO INCOME RATIO:  11%
MISCELLANEOUS COMMENTARY:   $9,000 down payment and never had an auto loan before...Thanks Remember0!  I went into the dealership with approvals from USAA 4.79%, Bank of America 2.79% and PenFed 1.99%. When the sales guy tried to give me a hard time about never having an auto loan before and student loans not being worth anything, I simply said, "that's fine, my bank already approved me at around 1%". His reply, "really? Let me take that back to the tower..." It wasn't long after that before I was signing the papers and driving off the lot.