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@Cellice wrote:
@Davidasmithlpn wrote:
@Davidasmithlpn wrote:
So I ended up stepping out of the garden before my refinace paperwork complete on my jeep, the transmission started giving troubles.
APPROVING BANK: NMAC
BUREAU PULLED: EQ (wish they would've used EX)
CREDIT SCORE: 615
CUSTOMER STATE OF RESIDENCE: TN
NEW/USED: New
YEAR OF VEHICLE: 2016
MAKE: Nissan
MODEL: Frontier Crew Cab SV 4x4 V6
MILEAGE: 328
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 32.5k
TERM CONTRACTED: 72 months
APR/LEASE RATE: 11.4%
MONTHLY PAYMENT: $625
ANNUAL INCOME: 62k
DEBT TO INCOME RATIO: Very Low.
I ended up trading my jeep in for a frontier, only put $500 down, they gave me a better rate than the credit union though. My Ex auto enhance was 631 so I was hoping they would use it. Either way I'm going to refinance in 1 year after my credit continues to grow. I'm super happy with the purchase. This time 6 months ago I couldn't have bought new if I wanted to.Figured I would bring this back up as we traded my fiancees car in at the same dealership as well, her auto enhanced scores were a little better than mine, My 08 scores are better. We are both builing, and all the simulators we have pulled I should be at 680's across the board by this time next year and she should be at 700's across the board this time next year.
APPROVING BANK: NMAC
BUREAU PULLED: EQ
CREDIT SCORE: 630
CUSTOMER STATE OF RESIDENCE: TN
NEW/USED: New
YEAR OF VEHICLE: 2016
MAKE: Nissan
MODEL: Altima
MILEAGE: 12
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 31.5K
TERM CONTRACTED: 72 months
APR/LEASE RATE: 4.4
MONTHLY PAYMENT: $509
ANNUAL INCOME: 40k
DEBT TO INCOME RATIO: 20%
Fiancee traded in a 2015 Kia Optima that had around $7,000 in negative equity, she put down $1,000 and with all of the incentives we were able to get she only ended up rolling over around $3,500 in negative equity.
Why would you trade a brand new car for another brand new car? $7,000 in negative equity... OUCH
Made financial sense to us, the loan with KIA was almost at 12% interest, and the amount still owed on the card was close to $21k after purchasing it a year ago for $24K, when she was able to get the New Altima for 4% interest and with the cash down and dealer rebates we were able to get that $7K down to about $3.5K. Although the kia was New it has a LOT of problems, the new Nissan payment is only around $25 more per month than she was paying for the KIA. The Nissan will hold its value much better than the Kia as well.
APPROVING BANK: Ally
BUREAU PULLED: EX
CREDIT SCORE: 775
CUSTOMER STATE OF RESIDENCE: WV
NEW/USED: New
YEAR OF VEHICLE: 2016
MAKE: Mitsubishi
MODEL: Outlander SEL
MILEAGE: 6
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $21,599
TERM CONTRACTED: 72 months
APR/LEASE RATE: 0%
MONTHLY PAYMENT: $299
ANNUAL INCOME: 60k
DEBT TO INCOME RATIO: 10%
Traded in my 2010 Mustang for an awesome deal on a brand new 2016 Mitsubishi Outlander SEL. 0% financing with rebates, plan is to pay the loan off in 4-5 years. Overall a very enjoyable experience. Made initial contact with the dealer online and went in to test drive, hammer them down on pricing.
APPROVING BANK: California Republic Bank
BUREAU PULLED: Equifax FICO Auto Score 8
CREDIT SCORE: 651
CUSTOMER STATE OF RESIDENCE: Texas
NEW/USED: Used
YEAR OF VEHICLE: 2015
MAKE: Chevrolet
MODEL: Silverado 1500 Texas Edition
MILEAGE: 21000
AMOUNT OF LOAN: 35,400
TERM CONTRACTED: 72 mo.
APR/LEASE RATE: 6.99
MONTHLY PAYMENT: 603
ANNUAL INCOME: 45,000
DEBT TO INCOME RATIO: 3%
MISCELLANEOUS COMMENTARY: 10 months post BK 7 DC. Had to rollover negative equity from a vehicle that was sitting at a 14.99% interest rate and couldn't refi due to LTV complications.
APPROVING BANK: Penfed
BUREAU PULLED: EQ
CREDIT SCORE: 740 (from credit approval notice from Penfed)
CUSTOMER STATE OF RESIDENCE: VA
NEW/USED: New
YEAR OF VEHICLE: 2016
MAKE: Ford
MODEL: F150
MILEAGE: 3
RETAIL/LEASE: Retail
AMOUNT OF LOAN: Approved for $42K
TERM CONTRACTED: 60 months
APR/LEASE RATE: 1.99%
MONTHLY PAYMENT: Depends on final cost of vehicle
ANNUAL INCOME: 111K
DEBT TO INCOME RATIO: 6%
# OF INQUIRIES: 4
Applied for Penfed 6/23. Approved for membership. Applied for $42K auto loan, went to pending loan officer review status. Received email at 9:15 AM that loan was approved. Check mailed Friday and will be here Monday. Waiting for the check in hand to go to the dealership. I wasn't asked for any documents (yet).
@Anonymous wrote:APPROVING BANK: Penfed
BUREAU PULLED: EQ
CREDIT SCORE: 740 (from credit approval notice from Penfed)
CUSTOMER STATE OF RESIDENCE: VA
NEW/USED: New
YEAR OF VEHICLE: 2016
MAKE: Ford
MODEL: F150
MILEAGE: 3
RETAIL/LEASE: Retail
AMOUNT OF LOAN: Approved for $42K
TERM CONTRACTED: 60 months
APR/LEASE RATE: 1.99%
MONTHLY PAYMENT: Depends on final cost of vehicle
ANNUAL INCOME: 111K
DEBT TO INCOME RATIO: 6%# OF INQUIRIES: 4
Applied for Penfed 6/23. Approved for membership. Applied for $42K auto loan, went to pending loan officer review status. Received email at 9:15 AM that loan was approved. Check mailed Friday and will be here Monday. Waiting for the check in hand to go to the dealership. I wasn't asked for any documents (yet).
You won't be asked for any documents either only documents you will receive is the credit insurance and please opt for PenFed's GAP coverage at $399 it is well worth it
EX08 801 | EQ08 812 | TU08 805 | Total Credit Line: $100K+ |
APPROVING BANK: Compass Banks
BUREAU PULLED: Eq Auto 5
CREDIT SCORE: 618
CUSTOMER STATE OF RESIDENCE:TX
NEW/USED: New
YEAR OF VEHICLE: 2016
MAKE: Chevy
MODEL: Impala
MILEAGE: 7
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 28K
TERM CONTRACTED: 72
APR/LEASE RATE: 8.25
MONTHLY PAYMENT: 500
ANNUAL INCOME: 87K
DEBT TO INCOME RATIO: n/a
MISCELLANEOUS COMMENTARY: Pretty happy with the rate being I have a repo with a balance showing thats only 2 years old.
Congrats on that approval!
APPROVING BANK: Bank Of America
BUREAU PULLED: EX
CREDIT SCORE: 732
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: NEW
YEAR OF VEHICLE: 2016
MAKE: Chevy
MODEL: Impala
MILEAGE: 42
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 26500
TERM CONTRACTED: 72m
APR/LEASE RATE: 2.59
MONTHLY PAYMENT: $405
APPROVING BANK: FORD MOTOR CREDIT
BUREAU PULLED: TU
CREDIT SCORE: 734 FICO AUTO 4
CUSTOMER STATE OF RESIDENCE: MICHIGAN
NEW/USED: NEW
YEAR OF VEHICLE: 2016
MAKE: FORD
MODEL: EXPLORER XLT ECO BOOST
MILEAGE: 172
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 26500
TERM CONTRACTED: 84
APR/LEASE RATE: 2.9
MONTHLY PAYMENT: $344
ANNUAL INCOME: $60,000
DEBT TO INCOME RATIO: 29%
MISCELLANEOUS COMMENTARY: USED A-PLAN AND PUT $11,000 DOWN. GOT AN ADDITIONAL $2500 IN REBATES.
APPROVING BANK: GM Financial
BUREAU PULLED: Equifax
CREDIT SCORE: 557 Auto Score 8 (unfortunately not my highest auto enhanced score)
CUSTOMER STATE OF RESIDENCE: Texas
NEW/USED: New
YEAR OF VEHICLE: 2016
MAKE: Ford
MODEL: F150
MILEAGE: 2
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 38k
TERM CONTRACTED: 72months
APR/LEASE RATE:14.99
MONTHLY PAYMENT: 809
ANNUAL INCOME: 75k
MISCELLANEOUS COMMENTARY: Traded my 2013 F150 which I was break-even on. Went through a tough financial time a few years back - currently rebuilding. The Sales manager at the Ford dealer is a customer of mine and was able to get GM Financial to buy the loan. They had to pay 795 dealer fee for GM to fund it and there was no markup allowed on the interest rate. I plan on making 1200 payments every month until my scores are high enough to land me a solid refi rate at my local CU. Fico 8's are currently hovering right around 600, and my CU will refi on regular FICO 8 rather than the auto enhanced. When I hit 650 ill try and get to the 5% range. Work also pays for 90% of my gas purchases.