APPROVING BANK: Coastal Federal Credit Union BUREAU PULLED: Equifax
CREDIT SCORE: 650ish Auto Enhanced
CUSTOMER STATE OF RESIDENCE: NC
NEW/USED: Used YEAR OF VEHICLE: 2009
MILEAGE: 10,300 RETAIL/LEASE: Retail AMOUNT OF LOAN:25,000 (Rounded this up from 24 something)
TERM CONTRACTED: 72 Months APR/LEASE RATE: 13.00% MONTHLY PAYMENT: 494
Comments: Was upside down on a crappy Jeep Cherokee I bought 6 months ago when I couldnt get a loan for much. After that purchase, I got a judgement removed from my record, several collections and some late payments, and while its not perfect It was enough to get financed with just $400 down. The dealership rolled my negative equity into the price of the Fusion which is what made the price a little higher than it should have been. Also have very little credit but a handful of subprime credit cards that I have been diligent to pay on time over the last year and a half. My credit ratio was at around 65% when I got approved too. Honestly was not expecting things to go so well... The deal was done in what must have been record time.
Also wanted to thank everyone who contributes to this board. You have all really helped me to get a perspective on where I stand and that reaching my credit goals can be achieved with just a little diligence and dedication.
APPROVING BANK: Hyundai(Southside Bank of Virgina) BUREAU PULLED: Transunion CREDIT SCORE:790 CUSTOMER STATE OF RESIDENCE:VA NEW/USED:NEW YEAR OF VEHICLE:Hyundai
MODEL:2008 MILEAGE:213 RETAIL/LEASE:Retail AMOUNT OF LOAN: $15000 TERM CONTRACTED:48 APR/LEASE RATE:4.8 MONTHLY PAYMENT:330 MISCELLANEOUS COMMENTARY: Put down a significant amount, but the best thing to do is find the lowest rate at an outside bank and challenge the dealer to do better. They make money off the interest rate, so they can often beat the outside banks. This makes everything convenient for you. It made my purchasing process very easy.
TERM CONTRACTED: 60 Months APR/LEASE RATE: 17% MONTHLY PAYMENT:501
Comments: Yeah the interest rate sucks but once I can get better scores, I will refi with a another company. They wanted 26000 for the car. Oh and plus this car has the extended warranty on it. Truly a blessing for me!
APPROVING BANK: Dort Federal Credit Union BUREAU PULLED:Equifax CREDIT SCORE:671 CUSTOMER STATE OF RESIDENCE:Michigan NEW/USED:Used YEAR OF VEHICLE:2006
MODEL:A6 MILEAGE:36093 RETAIL/LEASE:Retail AMOUNT OF LOAN:20249 TERM CONTRACTED:62 APR/LEASE RATE:6.7 MONTHLY PAYMENT:390 MISCELLANEOUS COMMENTARY: The total was 22,516(plus title and tax) Down payment of 2,267
APPROVING BANK: Wachovia BUREAU PULLED: Transunion I think CREDIT SCORE: CUSTOMER STATE OF RESIDENCE: Illinois NEW/USED: New YEAR OF VEHICLE:2008
MODELedona MILEAGE:20 RETAIL/LEASE:Retail AMOUNT OF LOAN:23000 TERM CONTRACTED:72 APR/LEASE RATE:11.99 MONTHLY PAYMENT: 451 MISCELLANEOUS COMMENTARY Expected higher rate. Although first received a rate of 19.75% at the credit union through my husband's work. Said forget that and went to Kia who was able to get this loan, although a few banks like Harris turned us down and Wachovia ultimately approved. Kia had a 5,000 rebate so that helped. Our scores are a little better than they were in January due to incorrect collections, but our DTI is still higher than it should be. We're also on our second year with CCCS (which I'm happy with). Hope to refi this in a year for a shorter term and better rate.
APPROVING BANK: Eastman Credit Union BUREAU PULLED: All 3, I believe CREDIT SCORE: TU 615, EX 640, EQ 677 (non auto enhanced) CUSTOMER STATE OF RESIDENCE: Tennessee NEW/USED: Used YEAR OF VEHICLE:2008
MODEL: Vibe MILEAGE: 24000 RETAIL/LEASE:Retail AMOUNT OF LOAN: 14,119 (includes taxes, title, etc) TERM CONTRACTED: 60 APR/LEASE RATE: 6.29 MONTHLY PAYMENT: 275 MISCELLANEOUS COMMENTARY I had a Chapter 7 Bankruptcy in June of 2007. Reaffirmed my car and finished paying it off. No bad marks on my CR since BK. 3 open CCs (longer than 1 year), 2 with no balances, 1 with a low balance and all with perfect payment records. Still, I was scared that I wouldn't get approved because of the Bankruptcy. I applied online with Cap One Auto and was shocked when I was approved for up to $18k at 6.91%. Then I did some checking online and saw that some folks have had awful times with Cap One and that convinced me to check with my credit union. My checking account had been there for over 2 years in good standing. I was prepared to go with ECU even if they offered a higher rate than Cap One. I was very happy when they returned a rate even lower than Cap One. Dealing with local folks, to me personally, is so much better than having to wait forever to get customer service on the phone. My last car loan (4 years prior to bankruptcy) was at 21% APR. There is life after bankruptcy!