Auto Loan Approvals!

[llecs]

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rlsrlj wrote:

APPROVING BANK: Audi Financial

BUREAU PULLED: Equifax

CREDIT SCORE: Equifax=694 and Transunion=714 (Scores all obtained from Annualcreditreport)

Are your scores FACO or FICO?  I am getting ready to buy a new audi and thought they only pulled TU...thanks for your post!

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If the scores were pulled from ACR, then the EQ score is a FICO and the TU score is a FAKO.

[Anonymous]

APPROVING BANK:  GMAC
BUREAU PULLED:  Equifax
CREDIT SCORE: 648
CUSTOMER STATE OF RESIDENCE:  california
NEW/USED:  new
YEAR OF VEHICLE:  2009

MAKE: Silverado

MODEL:  LT
MILEAGE: 8
RETAIL/LEASE:  retail
AMOUNT OF LOAN:  31500
TERM CONTRACTED:  72
APR/LEASE RATE:   0
MONTHLY PAYMENT:  437
MISCELLANEOUS COMMENTARY:  We were told by the finance guy that DTI is KING and FICO is second although a very close second. The score that they gave us is a FICO score although he said they use a auto enhanced score but he would not tell me what that score was, he did say that it was considerably higher. Another contributing factor that he said was the fact that our BK would becoming 7 years old next month and we also gave 10k down. We were extremely shocked to get the 0 APR with such a low FICO score but it seems as though GMAC is looking at the whole story and not just a FICO number.

[JagerBombs89]

APPROVING BANK: USAA
BUREAU PULLED: EQUIFAX
CREDIT SCORE:659

CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: USED
YEAR OF VEHICLE: 2003

MAKE: TOYOTA

MODEL: CELICA GTS
MILEAGE: 75000
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 9000
TERM CONTRACTED: 48 MONTHS
APR/LEASE RATE: 9.19% ( Should have been 7.69% but didnt finance $10,000 so got higher APR )
MONTHLY PAYMENT: $230
MISCELLANEOUS COMMENTARY: Had to put down $1500 in cash ( car total was $10,500 ) but car has thousands in modifications, so I can't complain.

[daisyduke]

APPROVING BANK: MB Financial
BUREAU PULLEDNLY TU
CREDIT SCORE:655 TU FICO  - Did not know score that MB had...
CUSTOMER STATE OF RESIDENCE: PA
NEW/USED: Pre owned
YEAR OF VEHICLE:2006

MAKE: Mercedes Benz

MODEL: E 350 4 matic
MILEAGE:40K
RETAIL/LEASE:
AMOUNT OF LOAN:28K (close to it)

TERM CONTRACTED:60
APR/LEASE RATE:4.99
MONTHLY PAYMENT:502.
MISCELLANEOUS COMMENTARY:I just picked up my car. I got the top Tier financing with Benz.  No Salary verified, no employement verified.

[Jerseybound]

APPROVING BANK: USAA
BUREAU PULLED: Equifax
CREDIT SCORE: 711
CUSTOMER STATE OF RESIDENCE: VA
NEW/USED: New/ Refinance
YEAR OF VEHICLE: 2009

MAKE: Chevrolet

MODEL: Malibu 1LT
MILEAGE: 1800
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 18500
TERM CONTRACTED: 60
APR/LEASE RATE: 5.74%
MONTHLY PAYMENT: $356.30
MISCELLANEOUS COMMENTARYOMER STATE OF RESIDENCE: NEW/USED: YEAR OF VEHICLE: MAKE: MODEL: MILEAGE: RETAIL/LEASE: AMOUNT OF LOAN: TERM CONTRACTED: APR/LEASE RATE: MONTHLY PAYMENT: MISCELLANEOUS COMMENTARY

Also was approved for used car loan of 10,000 because that was all I requested.  Orginal amount approved was for 25,000 refinance and 20,000 used car loan.  Overall I stated that I also was checking with Navy Federal and they met NFCU rate for refinacing.  Everyone should state this to USAA even if you are not trying to use NFCU because USAA will meet or beat NFCU rate for used cars or refinancing.  Overall very pleased refinanced from GMAC at rate of 6.39%.

[MRsolis]

APPROVING BANK: Ford Motor Credit
BUREAU PULLED: Experian
CREDIT SCORE:640
CUSTOMER STATE OF RESIDENCE: California
NEW/USED:New
YEAR OF VEHICLE:2010

MAKE:Ford

MODEL:Ranger
MILEAGE:2
RETAIL/LEASE:

AMOUNT OF LOAN:18000
TERM CONTRACTED:60mnths

APR/LEASE RATE:5.9%
MONTHLY PAYMENT:349.99
MISCELLANEOUS COMMENTARY:

[shniku]

APPROVING BANK:         CHASE
BUREAU PULLED:           none
CREDIT SCORE:             702

STATE OF RESIDENCE:   NY
NEW/USED:                   USED
YEAR OF VEHICLE:         2008

MAKE:                            BMW

MODEL:                          X3
MILEAGE:                       10100
RETAIL/LEASE:               Retail
AMOUNT OF LOAN:         20,000
TERM CONTRACTED:      60 months
APR/LEASE RATE:           3.2%
MONTHLY PAYMENT:       $360

MISCELLANEOUS COMMENTARY: Paid 10k down, 20k financed. Great car, great price, great rate. I see some people in here pay more than 25% in interest for up to 6 years. That basically means that you buy a 30k car and end up paying 60k. I think that is ridiculous and nobody should buy a car when that is the case. It's better to just ride a bicycle, than get ripped off by the banks like that. 

[Anonymous]

APPROVING BANK: Toyota Financial Services
BUREAU PULLED: Transunion
CREDIT SCORE: 696
CUSTOMER STATE OF RESIDENCE: Wisconsin
NEW/USED: New
YEAR OF VEHICLE: 2010

MAKE: Toyota

MODEL: Camry
MILEAGE: 2
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 22K
TERM CONTRACTED: 36 Months
APR/LEASE RATE: 0.0%
MONTHLY PAYMENT: 627
MISCELLANEOUS COMMENTARY: Asked to submit salary slip and had to make a down payment of $2000.

[Anonymous]

APPROVING BANK: Toyota Financial Services TFS

 BUREAU PULLED: Transunion and Equifax

CREDIT SCORE: 697
CUSTOMER STATE OF RESIDENCE: Delaware
NEW/USED: USED
YEAR OF VEHICLE: 2009

MAKE:  Toyota

MODEL: Highlander
MILEAGE: 19,111
RETAIL/LEASE: $25,000

AMOUNT OF LOAN: $15,000
TERM CONTRACTED: 60 months / 5 years

APR/LEASE RATE: 5.495%

MONTHLY PAYMENT: $286.45
MISCELLANEOUS COMMENTARY: Transunion was higher so they used that. I have a paid judgment and some old late car payments from 5 years ago on my report. I did not need to supply any pay stubs. I was hoping for a promotional rate of 2.9% or 3.9% but that promo ended on 11/30/2009.  I am happy with 5.49% my last loan with Toyota was at 11.25% . I was able to trade in my old car and not put any cash down. I just joined a local credit union last week so I will make a few payments and see if they can get me a lower rate. 

[MrSchrute]

 APPROVING BANK: Navy Federal Credit

 BUREAU PULLED: Equifax

CREDIT SCORE: 636
CUSTOMER STATE OF RESIDENCE: Georgia
NEW/USED: USED
YEAR OF VEHICLE: 2006

MAKE:  Nissan

MODEL: 350z Touring
MILEAGE: 60,000
RETAIL/LEASE: $18,000

AMOUNT OF LOAN: $20,000
TERM CONTRACTED: 60 months / 5 years

APR/LEASE RATE: 11%

MONTHLY PAYMENT: $430.00
MISCELLANEOUS COMMENTARY: Credit report had a couple dinks on it. The NADA price for this car with the mileage was about 18k, but with dealer fees and taxes plus a 3yr top tier warranty brought the total to $20k. I don't like the interest rate at all, but at least they approved me. Most lenders would not even approve me.