Auto Loan Approvals!

[Anonymous]

APPROVING BANK:USAA
BUREAU PULLED:Not sure
CREDIT SCORE:EX=650, EQ=681, TU=700
CUSTOMER STATE OF RESIDENCE:Hawaii

NEW/USED:New
YEAR OF VEHICLE:2010

MAKE: Was thinking Honda, but still thinking it over

MODEL: Probably Element if I go Honda
MILEAGE: Better be near zero! Will be first new car for me.
RETAIL/LEASE: Buying

 

AMOUNT OF LOAN: $27500
TERM CONTRACTED: 60/mo
APR/LEASE RATE: 5.99%
MONTHLY PAYMENT: $531 with no down payment, but will probably do at least $4k down

MISCELLANEOUS COMMENTARY:I thought my credit scores were so bad that I'd be looking at over 10+ APR rate for a new car. Seeing people on here with similar.....even worse scores...getting decent APR's encouraged me though. I applied through Honda online as well and was approved, but have to go to a dealer before they tell me my APR....which can't be good right? Then I tried Bank of America, been banking there for over 13 years. Savings, checking and credit card with them, they denied me. I was thinking I'll just work on my scores and try again in 6 months, but thought might as well give a credit union a try as well. 5.99% isn't the greatest, but I think I will bite. I have been driving around in junkers for a long time and was going to straight up buy a used Honda Element, but all the ones that had low miliage and are at least a 2007 were fairly close to brand new 2010 pricing that....well, why not just get new? Not to mention, buying straight up would drain me.  Oh, and I think I will be moving all my banking needs to USAA now and close all my BoFA accounts.

[RockyGator]

APPROVING BANK: Ford Credit
BUREAU PULLED: EX
CREDIT SCORE: Auto enhanced 632
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: Used (09 dealer car with 8k miles)
YEAR OF VEHICLE: 2009

MAKE: Lincoln

MODEL: MKS AWD
MILEAGE: 8K
RETAIL/LEASE: retail
AMOUNT OF LOAN: $47, 500

TERM CONTRACTED: 60 months
APR/LEASE RATE: 5.9
MONTHLY PAYMENT: $900
MISCELLANEOUS COMMENTARY: Loaded MKS AWD.  Plan on having this for exactly 5 yrs (that's when I hit 20 in the military), so I opted for the gap coverage, 100k extended warranty and Guide Point GPS vehicle recovery.  I traded in a vehicle with 8k neg equity and put down $8500.  Since it was never registered I got all the "new car" incentives, which came out to 4k.  I think the worse part of the deal is the 9.75% CA state taxs.

Message Edited by RockyGator on 01-23-2010 11:54 PM

Message Edited by RockyGator on 01-24-2010 12:09 AM

Message Edited by RockyGator on 01-24-2010 12:11 AM

[rosa29617]

APPROVING BANK: Greenville Heritage FCU
BUREAU PULLED: Equifax
CREDIT SCORE: 628
CUSTOMER STATE OF RESIDENCE: South Carolina
NEW/USED: Used
YEAR OF VEHICLE: 2003

MAKE: Volkswagon

MODEL: Passat
MILEAGE: 99000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 6300
TERM CONTRACTED: 43 mos
APR/LEASE RATE: 8.6
MONTHLY PAYMENT: 146
MISCELLANEOUS COMMENTARY: Surprised to get such a low rate; its a really nice car

[rosa29617]

APPROVING BANK: Greenville Heritage FCU
BUREAU PULLED: Equifax
CREDIT SCORE: 628
CUSTOMER STATE OF RESIDENCE: South Carolina
NEW/USED: Used
YEAR OF VEHICLE: 2003

MAKE: Volkswagon

MODEL: Passat
MILEAGE: 99000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 6300 CORRECTION (MINUS 1000 DOWN PYMT)
TERM CONTRACTED: 43 mos
APR/LEASE RATE: 8.6
MONTHLY PAYMENT: 146
MISCELLANEOUS COMMENTARY: Surprised to get such a low rate; its a really nice car

[Anonymous]

APPROVING BANK: Community Financial Credit Union
BUREAU PULLED: TransUnion
CREDIT SCORE: 720 (myfico said 740 this morning)
CUSTOMER STATE OF RESIDENCE: Michigan
NEW/USED: Used
YEAR OF VEHICLE: 2006

MAKE: Ford

MODEL: Explorer Limited (fully loaded )
MILEAGE: 20500
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 13k
TERM CONTRACTED: 60 mo
APR/LEASE RATE: 6.24 (.25 pt deduction for opening a checking account and having it auto-debited... figured why not)
MONTHLY PAYMENT: 251
MISCELLANEOUS COMMENTARY: Got a great rate for the model year of the car. Sooo excited! I went 60 just to have some extra flexibility in the payments. I fully expect to have this paid off with 3 years minimum, but with the economy and recent job cuts I did not want to be strapped down to a 350+ car payment. Thanks to everyone here! You have helped me go from a 660 EQ and TU thinking I wasn't alive lol, to a 730ish score and the best rate for the year model I bought!

[johnsj21]

APPROVING BANK: Ford Motor Credit
BUREAU PULLED: Equifax

CREDIT SCORE: 658

CUSTOMER STATE OF RESIDENCE: Miinesota

NEW/USED: New

YEAR OF VEHICLE: 2010

MAKE: Ford

MODEL: Focus SEL w/ Moon & Tune Package

MILEAGE: 4
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $21346.00

TERM CONTRACTED: 72 mo
APR/LEASE RATE: 11.99 (I know it seems high but the rate on my last car was 18%!!!  Higher than expected due to debt/income ratio)

MONTHLY PAYMENT: $418
MISCELLANEOUS COMMENTARY: Had a TON of negative equity in my last car that was on it's last legs.  There were $3000 in incentives on the Focus along with my $3500 cash downpayment I was able to get this car with no negative equity rolled into it.  I was also able to get a 75,000 mile bumper-to-bumper warranty on it.  My payment is $40 less a month than my old car too!  I'm going to make bi-monthly payments for a year and then refi with my CU...trying to get that FICO a little higher.

[Anonymous]

APPROVING BANK:  Capital One
BUREAU PULLED: not sure
CREDIT SCORE: EQ 745
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED:USED - REFINANCE
YEAR OF VEHICLE: 2007

MAKE:Mazda

MODEL:  CX7

MILEAGE:

RETAIL/LEASE: 15000
AMOUNT OF LOAN: 12.5K
TERM CONTRACTED: 48
APR/LEASE RATE: 4.49%
MONTHLY PAYMENT: $291
MISCELLANEOUS COMMENTARY:I was approved by Capital One on the spot. Refinance from a 7.25% loan to a 4.49% loan

[Anonymous]

APPROVING BANK:Boeing Employees Credit Union
BUREAU PULLED:Not sure
CREDIT SCORE:EQ=709 TU=721
CUSTOMER STATE OF RESIDENCE:Washington

NEW/USED:Used
YEAR OF VEHICLE:2007

MAKE: Volkswagen

MODEL: New Beetle 2.5  Liter

MILEAGE: 15,084
RETAIL/LEASE: Retail

AMOUNT OF LOAN: $16,035

TERM CONTRACTED: 60/mo
APR/LEASE RATE: 5.99%
MONTHLY PAYMENT: $310

MISCELLANEOUS COMMENTARY: Denied by Capital One, went to the dealer, and they came up with the offer from BECU.

Message Edited by tiffany98122 on 02-08-2010 06:42 PM

[StarraeAday1]

APPROVING BANK: Missouri Valley Federal Credit Union
BUREAU PULLED: EQ

CREDIT SCORE: Mine 666, His 636

CUSTOMER STATE OF RESIDENCE:Missouri

NEW/USED: Used Refinance

YEAR OF VEHICLE: 2007

MAKE:Chevrolet

MODEL:Cobalt

MILEAGE: 55k

RETAIL/LEASE: Retail

AMOUNT OF LOAN: Approx. $9600

TERM CONTRACTED: 60 mo.

APR/LEASE RATE: 6.75%
MONTHLY PAYMENT: Approx. $190

MISCELLANEOUS COMMENTARY: Recovering from BK 2 years ago, refinancing from Crapital One at 22.58%!!!

[Anonymous]

APPROVING BANK: State Employees Credit Union (MD) SECU

BUREAU PULLED: TU

CREDIT SCORE: TU 685 EQ 667

CUSTOMER STATE OF RESIDENCE: MD

NEW/USED: USED
YEAR OF VEHICLE: 2006

MAKE: HONDA

MODEL: CIVIC Coupe
MILEAGE: 45,999
RETAIL/LEASE: RETAIL

AMOUNT OF LOAN: 8500

TERM CONTRACTED: 60
APR/LEASE RATE: 4.74
MONTHLY PAYMENT: 159

MISCELLANEOUS COMMENTARY: Loan amount is after 2500 down payment I will put toward car. I haven't made an offer for this car yet so maybe I can negotiate a lower price. I love this credit union! 

Message Edited by NinComPoop on 02-10-2010 06:05 AM