No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
2010 ford f150
APPROVING BANK: PenFed
BUREAU PULLED: Equifax (?)
CREDIT SCORE: 820
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: BMW
MODEL: M240i
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $42,748
TERM CONTRACTED: 84mo
APR/LEASE RATE: 2.99
MONTHLY PAYMENT: $565
ANNUAL INCOME: $67,000
DEBT TO INCOME RATIO: ~10% prior to loan
MISCELLANEOUS COMMENTARY: Joined today ($17 for some Support our Troops cause) and put $5 in the account. Literally took less than 5 minutes to join and apply. Instant approval. MSRP was $50,430. Got them down to $47,670. With tax and and a $75 dealer fee, OTD price was $51,748. Putting $9,000 down. Still going to hit up a local CU where I had my last loan and see if they can beat PenFed's rate.
APPROVING BANK: PenFed
BUREAU PULLED: Equifax (?)
CREDIT SCORE: 820
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: BMW
MODEL: M240i
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $42,748
TERM CONTRACTED: 84 months
APR/LEASE RATE: 2.99
MONTHLY PAYMENT: $565
ANNUAL INCOME: $67,000
DEBT TO INCOME RATIO: ~ 10% before loan
MISCELLANEOUS COMMENTARY: Joined PenFed today and applied for this loan. Whole process took less than 10 minutes. Instant approval. MSRP is $50,430, negotiated down to $47,670 ($100 over invoice). OTD with tax and $75 processing fee is $51,748. Putting $9k down. Still need to hit up local CU where I had my last loan and see if they'll beat it.
@MrsCHX wrote:
APPROVING BANK: Americredit
BUREAU PULLED: EQ
CREDIT SCORE: 572 (Dealership pulled TU which is 30 points higher. Wish Americredit would've used this one!)
CUSTOMER STATE OF RESIDENCE: MN
NEW/USED: Used
YEAR OF VEHICLE: 2012
MAKE: Ford
MODEL: Focus
MILEAGE: 17,800
RETAIL/LEASE: Purchase
AMOUNT OF LOAN: 13,000 (incl TTL and GAP)
TERM CONTRACTED: 72 months
APR/LEASE RATE: 18.49%
MONTHLY PAYMENT: 302
ANNUAL INCOME: $65,000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: My car was in pretty bad shape and I couldn't hold off any longer.
Holding my credit score down:
2 judgments (from 2010/2011)
2 medical collections on EQ (will try HIPPA method)
one other collection on all 3 bureaus
one charge off on all 3
55% utilization (will go down to 15% next month)
student loan Late payments. The worst of the bunch is in rehab for 7 more months.
Hopefully in 6-9 months I can get those collections cleaned up (and removed!) to bump those scores, and refinance. I am a DCU member already.
All derogs gone except for SL lates. Also have a ton of INQs now and AAoA dropped quite a bit with all the credit I've added.
APPROVING BANK: DCU
BUREAU PULLED: EQ04
CREDIT SCORE: 657 (EQ08 is 684)
RETAIL/LEASE: Refinance
AMOUNT OF LOAN: 12,550 (With 9 months of payments I only managed to pay around $1,000 to principle. The other $1700 went to interest )
TERM CONTRACTED: 65 months
APR/LEASE RATE: 4.24% (.5% reduction for Direct Deposit. .5% reduction after 6 months of payments)
MONTHLY PAYENT: $214
MISCELLANEOUS COMMENTARY: I decided to take the lower payment over shortening the loan term.
@anx1300c wrote:APPROVING BANK: PenFed
BUREAU PULLED: Equifax (?)
CREDIT SCORE: 820
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: BMW
MODEL: M240i
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $42,748
TERM CONTRACTED: 84 months
APR/LEASE RATE: 2.99
MONTHLY PAYMENT: $565
ANNUAL INCOME: $67,000
DEBT TO INCOME RATIO: ~ 10% before loan
MISCELLANEOUS COMMENTARY: Joined PenFed today and applied for this loan. Whole process took less than 10 minutes. Instant approval. MSRP is $50,430, negotiated down to $47,670 ($100 over invoice). OTD with tax and $75 processing fee is $51,748. Putting $9k down. Still need to hit up local CU where I had my last loan and see if they'll beat it.
Congrats, you will love it. I have had the M2 for about 5 months and love it, the M240 is basically the same thing with a better ride (M2 is pretty stiff). Not many lenders can beat Penfed but let us know if you find one.
@MrsCHX wrote:
@MrsCHX wrote:
APPROVING BANK: Americredit
BUREAU PULLED: EQ
CREDIT SCORE: 572 (Dealership pulled TU which is 30 points higher. Wish Americredit would've used this one!)
CUSTOMER STATE OF RESIDENCE: MN
NEW/USED: Used
YEAR OF VEHICLE: 2012
MAKE: Ford
MODEL: Focus
MILEAGE: 17,800
RETAIL/LEASE: Purchase
AMOUNT OF LOAN: 13,000 (incl TTL and GAP)
TERM CONTRACTED: 72 months
APR/LEASE RATE: 18.49%
MONTHLY PAYMENT: 302
ANNUAL INCOME: $65,000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: My car was in pretty bad shape and I couldn't hold off any longer.
Holding my credit score down:
2 judgments (from 2010/2011)
2 medical collections on EQ (will try HIPPA method)
one other collection on all 3 bureaus
one charge off on all 3
55% utilization (will go down to 15% next month)
student loan Late payments. The worst of the bunch is in rehab for 7 more months.
Hopefully in 6-9 months I can get those collections cleaned up (and removed!) to bump those scores, and refinance. I am a DCU member already.All derogs gone except for SL lates. Also have a ton of INQs now and AAoA dropped quite a bit with all the credit I've added.
APPROVING BANK: DCU
BUREAU PULLED: EQ04
CREDIT SCORE: 657 (EQ08 is 684)
RETAIL/LEASE: Refinance
AMOUNT OF LOAN: 12,550 (With 9 months of payments I only managed to pay around $1,000 to principle. The other $1700 went to interest )
TERM CONTRACTED: 65 months
APR/LEASE RATE: 4.24% (.5% reduction for Direct Deposit. .5% reduction after 6 months of payments)
MONTHLY PAYENT: $214
MISCELLANEOUS COMMENTARY: I decided to take the lower payment over shortening the loan term.
Congrats, nice tangible result from the work of rebuilding. Very similar to the result I had a couple of years ago, my rebuild efforts saved us 7k in interest by being able to refinace 5 months after we bought a new car at 12.57% down to 4.29% with NFCU. Always great when folks post their results so others can learn.
Congrats on the purchase. I too joined PenFed recently. I have no deg and scores in the mid 700's. I lack history since i leased a Land Rover in 2011. I just got a Amex Blue and BOA cash rewards card.
So I have a Porsche Carrera GTS arriving in July and Id like to finance it to keep building credit.
My question to you is; Penfed denied me a credit card before I had the Amex and BOA cards, what are my chances with the auto loan. Its an expensive car, msrp of $165,000, do they cap the loans at 100k?
A lot of question and thanks,
-Tim
NYC
Thanks! I'm stoked about the car and the potential of the B58. Not so stoked about PenFed, however. So yesterday, I'm eating lunch and I get a call from Florida that I don't recognize. I answer. It's a woman from PenFed, congratulating me on my loan approval and asking if I want her to go ahead and finalize the loan and mail the check. I politely tell her I was planning on stopping by my credit union to see if they could beat the rate (which they handily did. 2.34% for 84 months or 1.84% for 78; I'm going with the latter). Pleasant conversation and I tell her to hold off until she hears from me. Well tonight, I open my email and find one from PenFed stating that my loan has been finalized and the documents and check are in the mail. I'm pissed. I called them and spoke to a nice CSR who assured me she'd look into it, but I'm going higher up to figure why/how this happened. I understand it's not binding unless I present the check for payment, but it's a matter of principle now.
APPROVING BANK: First Source FCU
BUREAU PULLED: Experian
CREDIT SCORE: 817
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: BMW
MODEL: M240i
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $42,748
TERM CONTRACTED: 78
APR/LEASE RATE: 1.84%
MONTHLY PAYMENT: $582
ANNUAL INCOME: $67,000
DEBT TO INCOME RATIO: ~10%
MISCELLANEOUS COMMENTARY: Yeah, my local CU spanked the pants off Penfed. I had my last loan through this CU.
@Anonymous wrote:Congrats on the purchase. I too joined PenFed recently. I have no deg and scores in the mid 700's. I lack history since i leased a Land Rover in 2011. I just got a Amex Blue and BOA cash rewards card.
So I have a Porsche Carrera GTS arriving in July and Id like to finance it to keep building credit.
My question to you is; Penfed denied me a credit card before I had the Amex and BOA cards, what are my chances with the auto loan. Its an expensive car, msrp of $165,000, do they cap the loans at 100k?
A lot of question and thanks,
-Tim
NYC
It would be best to post this in the regular area versus under the approvals. Anyway, I have been declined by Penfed for a CC and the same day approved for car loan. Their max is 100k. Nice car I am sure you will love it. FYI, I bought my car cash and then did my finance with Penfed several months later, they are the only lender I know of that make it super easy to finance a car you own the title to. I ended up just taking out about 35% of the value but they would go to 120% on a new car I believe.