Auto Loan Approvals!

[Anonymous]

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@Anonymous wrote:
APPROVING BANK: Teachers Credit Union (TCU)
BUREAU PULLED: EQ
CREDIT SCORE: 693
CUSTOMER STATE OF RESIDENCE: IN
NEW/USED: Used
YEAR OF VEHICLE: 2009
MAKE: Chevrolet
MODEL: Cobalt Coupe LT
MILEAGE: 92,000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $5,914
TERM CONTRACTED: 60 months
APR/LEASE RATE: 4.25
MONTHLY PAYMENT: $109
ANNUAL INCOME: 1.3k/month
DEBT TO INCOME RATIO: 12
Miscellaneous Commentary:
I needed a co-signer only because I have never had a revolving loan other than student loans. I'm also 19 but my total CL is 15k so my CS wasnt a problem just the revolving loan. The original APR offer with my CS was 4.5% until my mom co-signed. Also my dad technically bought this car in his name last year from a buy here pay here lot but I was the one making payments and finally decided to move it into my name since the interest was so dang high through that sleasy lot.

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Congratulations on getting free of the buy here pay here car lot, they are not consumer friendly.  My concern for you is that 60 months at 4.25% on this car means you will have negative equity pretty much for the entire life of the loan, as long as the car is running and filling your needs that might not be a big deal because you have a low/affordable payment but just keep in mind that you are up against the depreciating value.  

[Anonymous]

Yeah I'm not planning on keeping it that long. Ill have it paif off in two years if i double up on payments and that will allow me to build my auto credit history. Also the black book value is lile 7.3k according to my bank so not too bad for them loan wise.

[Anonymous]

Geez sorry for the grammar. Using a dumb smart phone /:

[Anonymous]

APPROVING BANK: municipal credit union
BUREAU PULLED: experian
CREDIT SCORE: 720
CUSTOMER STATE OF RESIDENCE: new york
NEW/USED: new
YEAR OF VEHICLE: 2016
MAKE:mercedes bebz
MODEL:gle 350
MILEAGE: delivery mileage
RETAIL/LEASE: retail
AMOUNT OF LOAN: $61,800
TERM CONTRACTED:60
APR/LEASE RATE:1.95%
MONTHLY PAYMENT:$1075
ANNUAL INCOME:81k
DEBT TO INCOME RATIO:15%
MISCELLANEOUS COMMENTARY: 5 k downpayment. DCU denied my loan application. MB FINANCING and bank of america offered 2.99%

[Anonymous]

APPROVING BANK: Chrysler Capital
BUREAU PULLED:Equifax or Experian, cant remeber which E
CREDIT SCORE: 517
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: NEW
YEAR OF VEHICLE: 2015
MAKE: DODGE
MODEL: JOURNEY AVP 7 seater
MILEAGE: 25
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 23000
TERM CONTRACTED: 75 MO
APR/LEASE RATE: 8.10
MONTHLY PAYMENT: 392
ANNUAL INCOME: 65K
DEBT TO INCOME RATIO: Not sure exactly. Obviously too high with my scores.
MISCELLANEOUS COMMENTAR loan includes neg equity. Purchase price was 17,600  plus dealer fee 650,  then add tax, reg, GAP & negative equity. 

[lonestar2k]

APPROVING BANK: WELLS FARGO
BUREAU PULLED: EQUIFAX
CREDIT SCORE: 677
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: USED
YEAR OF VEHICLE: 2015
MAKE: BMW
MODEL: M4
MILEAGE: 2k
RETAIL/LEASE: LOAN
AMOUNT OF LOAN: 55k
TERM CONTRACTED: 72
APR/LEASE RATE: 4%
MONTHLY PAYMENT: $855.00
ANNUAL INCOME: 93k
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: I've been wanting a new BMW and applied at dealer. No bank offer me a deal. I was getting ready to leave and the sales lady come back saying Wells Fargo just send an offer. No verification of any kind only the down.. I was super happy. Car was 72k and I offer 20k down.. I have 10 late payments over the last 3 years. No lates in the last 10 months. My Util was at 1% when I applied!

[jeffm4688]

APPROVING BANK: DCU Refi
BUREAU PULLED: No Clue
CREDIT SCORE: 702
CUSTOMER STATE OF RESIDENCE: NY

NEW/USED: USED Bought new in April
YEAR OF VEHICLE: 2015
MAKE: Chevrolet
MODEL: Camaro SS
MILEAGE: 7000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $42650
TERM CONTRACTED: 84 months
APR/LEASE RATE: 3.49%
MONTHLY PAYMENT: $~573

ANNUAL INCOME: $105000
DEBT TO INCOME RATIO: 3% - only debt is vehicle
MISCELLANEOUS COMMENTARY: Originally financed through dealer with 6.84% and monthly payment at 700.57. I'm a few months ahead on that loan already, but wanted to refi as I absolutely hate M&T bank. Terrible to deal with.  I was going to put more down, but not like it would of made a difference in APR or anything so when first payment is due I'll mail off 6-8 months worth of payments.

[Bmac66]

Credit to MarvBear for an excellent idea on another forum; this thread is to be used for your Auto Loan Approvals just copy and paste!

APPROVING BANK: USAA
BUREAU PULLED: EQ
CREDIT SCORE: 705
CUSTOMER STATE OF RESIDENCE: MD
NEW/USED: New
YEAR OF VEHICLE: 2016
MAKE: Honda
MODEL: Pilot
MILEAGE: 10
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 48,350
TERM CONTRACTED: 72
APR/LEASE RATE: 4.49
MONTHLY PAYMENT: $818
ANNUAL INCOME: $125k
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY:

[Anonymous]

APPROVING BANK: Ally
BUREAU PULLED: Equifax
CREDIT SCORE: 607
CUSTOMER STATE OF RESIDENCE: OH
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Chevy
MODEL: Spark
MILEAGE: 36
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $14,000
TERM CONTRACTED:72 months
APR/LEASE RATE: 6.9%
MONTHLY PAYMENT: 261.12
ANNUAL INCOME:34,000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: started out at 14.9, but a second call in and they lowered it.