Auto Loan Approvals!

[Anonymous]

APPROVING BANK: Capital One
BUREAU PULLED:  Experian
CREDIT SCORE:  695
CUSTOMER STATE OF RESIDENCE:  Maryland
NEW/USED:  Used
YEAR OF VEHICLE:  2012
MAKE:  Toyota
MODEL:  Sienna XLE - Fully Loaded
MILEAGE:  36,000
RETAIL/LEASE:  Purchase
AMOUNT OF LOAN:  $26,700
TERM CONTRACTED:  72 mos
APR/LEASE RATE:  4.24
MONTHLY PAYMENT:  $420
ANNUAL INCOME:  150,000
DEBT TO INCOME RATIO:  >10%
MISCELLANEOUS COMMENTARY:  I ended up getting a lower rate having the dealer farm me out.  But I am superstitious so until I get that first statement, I won't post on that approval  

[Anonymous]

APPROVING BANK: Navy Federal Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: 766
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: NEW
YEAR OF VEHICLE: 2014
MAKE: Dodge
MODEL: RAM
MILEAGE: 
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 40405
TERM CONTRACTED: 96 mo
APR/LEASE RATE: 4.49%
MONTHLY PAYMENT: $503.16
ANNUAL INCOME: $40K
DEBT TO INCOME RATIO: 12%
MISCELLANEOUS COMMENTARY: I could have pre-approved for 1.99% for 48 month but I chose 4.99% and planning to pay it off double or triple a month. That way, I will pay less interest over the course of 96 months. I just want to lower my monthly payment just in case I am running into trouble. My credit score from Equifax just dropped from 775 to 766 since Oct 16th. My Transunion is 781 and I am not sure about the Experian. I am still decided which RAM model to get this weekend, 2500 or 3500, and Diesel or Hemi. NFCU rep told me that, within the 60 days once I initiate the purchase of a vehicle, and after I paying off more than $2500 I can re-finance with a better rate or if I want to get another vehicle with higher price tag with the lost of equity.

[MarineVietVet]

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@Anonymous wrote:

APPROVING BANK: Navy Federal Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: 766
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: NEW
YEAR OF VEHICLE: 2014
MAKE: Dodge
MODEL: RAM
MILEAGE: 
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 40405
TERM CONTRACTED: 96 mo
APR/LEASE RATE: 4.49%
MONTHLY PAYMENT: $503.16
ANNUAL INCOME: $40K
DEBT TO INCOME RATIO: 12%
MISCELLANEOUS COMMENTARY: I could have pre-approved for 1.99% for 48 month but I chose 4.99% and planning to pay it off double or triple a month. That way, I will pay less interest over the course of 96 months. I just want to lower my monthly payment just in case I am running into trouble. My credit score from Equifax just dropped from 775 to 766 since Oct 16th. My Transunion is 781 and I am not sure about the Experian. I am still decided which RAM model to get this weekend, 2500 or 3500, and Diesel or Hemi. NFCU rep told me that, within the 60 days once I initiate the purchase of a vehicle, and after I paying off more than $2500 I can re-finance with a better rate or if I want to get another vehicle with higher price tag with the lost of equity.

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Wow!! I AM way behind I guess. I didn't know 96 month car loans were even possible. The last car loan I had was 36 months.

[352Fella]

APPROVING BANK: World Omni Financial
BUREAU PULLED: Experian
CREDIT SCORE: 695
CUSTOMER STATE OF RESIDENCE: Florida
NEW/USED: New
YEAR OF VEHICLE: 2014.5
MAKE: Toyota
MODEL: Camry SE
MILEAGE: 6 miles
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $27,000
TERM CONTRACTED: 72 months
APR/LEASE RATE: 2.9%
MONTHLY PAYMENT: $470
ANNUAL INCOME:$31,000
DEBT TO INCOME RATIO: 8%
MISCELLANEOUS COMMENTARY: Base price is $25K. Added some extra features and dealership stuff at signing. I applied at DCU, but was denied a loan for $18K, for a used car. Was also denied from a few other lenders. Applied online directly at the Toyota dealership and was instantly approved (go figure). Limited credit history, but no baddies and all payments made on time. Not sure HOW the rep from my local Toyota dealership was able to get me the 2.9% interest with only $1K down, but he did it and I was obviously super excited! I'll be paying this off within 3 years, as I have absolutely no overhead expenses, and very frugal with my income.

[Anonymous]

Reply to MarineVieVet.

Yep, it is possible. I was surprised too. In fact after the loan, I just got the alert from Equifax. My Fico score which was previously 766 now jumps to 773 after the auto loan from NFCU. That's good for me. As long as I keep the payment on time and more than the plan payment, my Fico score will keep going up in a short time. 

[Anonymous]

APPROVING BANK: Capital One
BUREAU PULLED: Equifax
CREDIT SCORE: 641
CUSTOMER STATE OF RESIDENCE: IN
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Honda
MODEL: Accord Sport
MILEAGE: 71
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 25,499
TERM CONTRACTED: 75
APR/LEASE RATE: 7.84
MONTHLY PAYMENT: 432.56
ANNUAL INCOME: 38,000
DEBT TO INCOME RATIO: 6%
MISCELLANEOUS COMMENTARY: Loan included Gap, Extended Warranty.  I had pulled my equifax the day before, MyFico said it was 614.  Had no previous auto loans on my report. Originally planned on putting $3,000 down, but it didn't affect the Apr rate and only took around $50 off my monthly payment.  I plan on using that on paying down my principle.

[Anonymous]

APPROVING BANK: Chrysler Capital
BUREAU PULLED: Equifax
CREDIT SCORE: 772 (from Equifax.com FICO Oct 31) and 748 (Lender Equifax Fico Nov 1)
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: NEW
YEAR OF VEHICLE: 2014
MAKE: RAM
MODEL: 2014 2500HD, Laramie,4x4, Cummins Diesel, Crew Cab, Long Bed
MILEAGE: 360
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $60,000
TERM CONTRACTED: 75mo
APR/LEASE RATE: 6.49%
MONTHLY PAYMENT: $975
ANNUAL INCOME: $40K
DEBT TO INCOME RATIO: 12%
MISCELLANEOUS COMMENTARY: I am getting another loan from Chrysler Capital instead of NFCU I was offered earlier ($40,404). I am planning to pay for a year with 150% or 200% of the planned payment. After that, I will refinance. By next few months, I will earn an extra income. My Equifax was 766 on Oct 29th, changed to 772 on Oct 31st. I pulled them from Equifax.com. I will give it sometime and I will pull it from myfico.com again. Lenders Equifax pulled was 748 on Nov 1st. This thing fluctuated FAST! Use this calculator to estimate your payment if you are planning to pay extra per month.http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx. 

Updates: Nov 2nd: Equifax raised my fico score to 785 25 mins ago.

[Emyshor]

APPROVING BANK: Toyota Financial
BUREAU PULLED: Equifax
CREDIT SCORE: 810
CUSTOMER STATE OF RESIDENCE: Oregon
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Toyota
MODEL: 4Runner Trail
MILEAGE: 63
RETAIL/LEASE: $36,000
AMOUNT OF LOAN: $18,000
TERM CONTRACTED: 84 mo
APR/LEASE RATE: 2.85
MONTHLY PAYMENT: $237
ANNUAL INCOME: 74,000
DEBT TO INCOME RATIO: >10%
MISCELLANEOUS COMMENTARY: I just sold my Honda Accord and put all the money for downpayment. The price on the car was $36000, I've put down $18000 and financed the rest. Already paid off 2 cars in 2009 and 2010. I have another car loan from 2012 (same 84 mo) for about $339 / mo with my Credit Union. They also approved me for 3.1% APR, but Toyota gave me a lower rate.

[Anonymous]

APPROVING BANK: State Farm
BUREAU PULLED: Equifax
CREDIT SCORE: 811
CUSTOMER STATE OF RESIDENCE: Georgia
NEW/USED: New
YEAR OF VEHICLE: 2015
MAKE: Toyota
MODEL: Highlander XLE
MILEAGE: 3
RETAIL/LEASE: $37,300 (taxes and fees included)
AMOUNT OF LOAN: $33,000
TERM CONTRACTED: 60 months
APR/LEASE RATE: 2.19
MONTHLY PAYMENT: $581
ANNUAL INCOME: $150,000+
DEBT TO INCOME RATIO: <10%
MISCELLANEOUS COMMENTARY: N/A

[Titan80300]

APPROVING BANK: UARK Federal Credit Union
BUREAU PULLED: TU
CREDIT SCORE: 780+
CUSTOMER STATE OF RESIDENCE: AR
NEW/USED: Used
YEAR OF VEHICLE: 2009
MAKE: Toyota Corolla LE
RETAIL/LEASE: retail 9k$ with zero down
AMOUNT OF LOAN:  ~9.9k$
TERM CONTRACTED: 60
APR/LEASE RATE: 2.45
MONTHLY PAYMENT:178
ANNUAL INCOME: 80 k$
DEBT TO INCOME RATIO: 5%
MISCELLANEOUS COMMENTARY: Great and easy working with the UARK FCU and Zsolt at the Adventure Subaru. loan includes state/local taxes.