Auto Loan Approvals!

[mAndrew1980]

You have an 883 credit score? WOW. I have never in all my life heard of a score that high. In fact, I didn't know it was possible. Congrats!!!! And sweet ride, too!!! You've put your yourself in an awesome position financially and credit-wise to be able to do this. You earned it. That is awesome to hear.

[Gladius]

$1500 payment?!😮😮

[goldengopher1991]

How can your score be 883? The highest FICO is 850.

[EddieK]

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@goldengopher1991 wrote:

How can your score be 883? The highest FICO is 850.

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Most likely it's an auto enhanced score.

[goldengopher1991]

APPROVING BANK: DCU
BUREAU PULLED: EQUIFAX
CREDIT SCORE: 733
CUSTOMER STATE OF RESIDENCE: NC
NEW/USED: USED
YEAR OF VEHICLE: 2012
MAKE: VOLKSWAGEN
MODEL: JETTA SE 
MILEAGE: 51118
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 8,500
TERM CONTRACTED: 24
APR/LEASE RATE: 1.24%
MONTHLY PAYMENT: $358
ANNUAL INCOME: $45,000
DEBT TO INCOME RATIO: 4%
MISCELLANEOUS COMMENTARY: AAoA 0.7 years, Total price w/ tax $14,500, downpayment $6000

[persocon]

hey, goldengopher1991

did DCU ask for proof of income?

Could you tell me the exact process after you negotiated the price?

so you have the dealer fax in the purchase agreement, and then what?

how long did it take for dealer to let you drive off?

did you have to wait for DCU to next day air the check?

Thank you!

[goldengopher1991]

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@persocon wrote:

hey, goldengopher1991

did DCU ask for proof of income?

Could you tell me the exact process after you negotiated the price?

so you have the dealer fax in the purchase agreement, and then what?

how long did it take for dealer to let you drive off?

did you have to wait for DCU to next day air the check?

Thank you!

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Yes they asked me to email a copy of my latest pay stub. 

I haven't got the car yet, still finalizing stuff with the dealer so hopefully by this weekend I can drive it off.

I believe the buyer (you) needs to email/fax the purhcase agreement to DCU. Ive been approved for the loan amount but haven't created my member account with them yet, you have 30 days from the date of loan approval to close the loan deal.

[bigbangteore]

may i know which dealership is this? im trying to get the same

[bigbangteore]

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@Strepthroat wrote:

APPROVING BANK: Nissan

BUREAU PULLED: EQ

CREDIT SCORE: 776 

CUSTOMER STATE OF RESIDENCE: GA

NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Nissan

MODEL: Platinum Premium

MILEAGE: 10

RETAIL/LEASE: Retail
AMOUNT OF LOAN: $40,842

TERM CONTRACTED: 60 months
APR/LEASE RATE: 2.6%

MONTHLY PAYMENT: 726

ANNUAL INCOME: $100,600

DEBT TO INCOME RATIO: Didn't run the numbers

MISCELLANEOUS COMMENTARY:

Loan in spouse's name only.  No other debt except mortgage. Spouse also approved for mortgage couple of months ago, hasn't shown up on credit report. Thinking about refinancing loan; local credit union offering 1.9%.

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may i know which dealership is this? im trying to get the same

[persocon]

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goldengopher1991 wrote:

Yes they asked me to email a copy of my latest pay stub. 

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did they ask you this after the pre-approval?

or did they ask you to email pay stub after you sent in the purchase agreement to DCU?

thanks