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Auto Loan Approvals!

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Eddie24CO
Valued Member

Re: Auto Loan Approvals!

APPROVING BANK:  Toyota Financial Services
BUREAU PULLED:  Experian, Transunion
CREDIT SCORE:  634 EX, 659 TU
CUSTOMER STATE OF RESIDENCE: Colorado 
NEW/USED:  NEW
YEAR OF VEHICLE: 2012
MAKE: Toyota
MODEL:  Prius C One
MILEAGE:  233
RETAIL/LEASE: Retail
AMOUNT OF LOAN:  $30,961 (NO MONEY DOWN)
TERM CONTRACTED: 75 months
APR/LEASE RATE: 10.5%
MONTHLY PAYMENT: 563.00
ANNUAL INCOME: 63,000.00
MISCELLANEOUS COMMENTARY: Not a bad APR as 5560 of negative equity rolled over into this loan from a previous car that had (60 mths, 24.9% APR) I owed 11,560 on my previous loan, got 6,000 trade and the rest rolled to the new loan. I walked out with NO MONEY DOWN and had to wait 4 days before the financing went through sucessfully so I was on pins and needles. The payment is not bad, a little high but I probally will refinance it in 12-15 months, but compared to what I was paying for a little more I have a Hybrid car that gets 60 mpg and its brand new. Best part is my insurance premium didn't change at all.

 

Current FICO Scores as of June 2022:
Experian: 720
Equifax: 721
TransUnion: 719
Message 1061 of 4,736
lovinlifeinkc
Regular Contributor

Re: Auto Loan Approvals!

Santander is the reason I bought a $1000 car and am waiting until all scores are in mid 700's before I apply for car loans.    22%?  No how, no way! 

Starting Score Aug 2011 590/ Gardening until 2013!!
Current Score Walmart 683/ FICO Equifax 722/738/ 708 Transunion FICO 700/ 725 Credit Karma 648/678/
Goal Score 750
Credit Cards- Orchard $300, Capitol One $300/$500, Amazon $600/$1300 Pennys $700, Walmart $250/$700, Discover $2000, Chase $1500 Pending Citi/Declined Cit- Inquires and new credit....... GARDENING UNTIL 2013 or home loan time!!! Help me stay strong!!
Message 1062 of 4,736
Elitex
Established Member

Re: Auto Loan Approvals!

APPROVING BANK: BMW Financial
BUREAU PULLED: Transunion
CREDIT SCORE: 673
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: BMW
MODEL: 550i
MILEAGE: NEW
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 70,000
TERM CONTRACTED:72
APR/LEASE RATE:5.9
MONTHLY PAYMENT: 1,100 (rougly)
ANNUAL INCOME: $135,000
MISCELLANEOUS COMMENTARY: Just ordered the car yesterday, now the wait begins.
Message 1063 of 4,736
MetalguitarJames
Valued Member

Re: Auto Loan Approvals!

APPROVING BANK: TD Auto Finance (They acquired Chrysler Finincial in April 2011)
BUREAU PULLED: Ex- 686 (Auto Enhanced) TU- 706 (Auto Enhanced)
CUSTOMER STATE OF RESIDENCE:
I reside in California but the Purchase was made in Nevada
NEW/USED: Used
YEAR OF VEHICLE: 2008
MAKE: Subaru
MODEL: Impreza WRX
MILEAGE: 54000
RETAIL/LEASE: Retail
MONEY DOWN: $500
AMOUNT OF LOAN: $23,768 total financed
TERM CONTRACTED: 72 Months
APR/LEASE RATE: 5.8%
MONTHLY PAYMENT: $391
ANNUAL INCOME: $39k
MISCELLANEOUS COMMENTARY: I was approved through Capital One at 7.76% for $24k, USAA at 6.48% for $22k, Golden 1 Credit Union at 6.38% for $22k, and TD Financial for 5.8% and $24k. I went to the dealership around 12:30 in the afternoon. The salseman was straight up about what they paid invoice on it. I was able to haggle him down a bit considering it was the end of the month and they needed to make this sale. I was stuck with the USAA pre-approval until I told them I was going to look at another car at a different lot. They were able to get my interest rate down and include a new car warranty (3 year 36k miles). I felt good about the deal and didn't feel as though I was being bent over (Vehicle that I traded in had a 20% interest rate). Once I succeed in GW'ing ACS with my student loans I may refi after a year or two. 
Message 1064 of 4,736
Anonymous
Not applicable

Re: Auto Loan Approvals!

APPROVING BANK: JPMC
BUREAU PULLED: TransUnion
CREDIT SCORE: 791
CUSTOMER STATE OF RESIDENCE: New Jersey
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Mazda
MODEL: CX-5
MILEAGE: 54
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $21,030
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 2.99%
MONTHLY PAYMENT: $367
ANNUAL INCOME: 68k
MISCELLANEOUS COMMENTARY: Love the car Smiley Very Happy
Message 1065 of 4,736
Anonymous
Not applicable

Re: Auto Loan Approvals!

APPROVING BANK: Wells Fargo
BUREAU PULLED: EQ
CREDIT SCORE: 651
CUSTOMER STATE OF RESIDENCE: Washington
NEW/USED: Used
YEAR OF VEHICLE: 2008
MAKE: Volkswagon
MODEL: Jetta SEL
MILEAGE: 86,100
RETAIL/LEASE: 12998
AMOUNT OF LOAN: 13998
TERM CONTRACTED: 60
APR/LEASE RATE: 10.99
MONTHLY PAYMENT: 317 including Gap Insurance
ANNUAL INCOME: 48000
MISCELLANEOUS COMMENTARY: I've been shopping for sometime. This is the lowest APR that has been offered to me, so I jumped on it. I couldn't be happier with the car I got into as well as the dealership that got me into it. The whole process was fast and painless compared to other deals I have worked on. Not too sure why others have thrown me through loops with the score I have. Now it's time to sit back and let things age for a year Smiley Happy This site has been more then helpful.
Message 1066 of 4,736
Anonymous
Not applicable

Re: Auto Loan Approvals!


@lovinlifeinkc wrote:

Santander is the reason I bought a $1000 car and am waiting until all scores are in mid 700's before I apply for car loans.    22%?  No how, no way! 


 

Sometimes people need to get into cars no matter what. At the low of my credit woes my tranny went out in my car and I needed a new car asap. Hold your breath before reading this, but 29.99 is what I ended up with. That's what bad credit will do for you.

Message 1067 of 4,736
lovinlifeinkc
Regular Contributor

Re: Auto Loan Approvals!

I overstand. I financed a car with them over a decade ago. Same credit issues plus I didn't know any better. I waited it out this time around. Driving a 1997 car my score improves. Almost there.
Starting Score Aug 2011 590/ Gardening until 2013!!
Current Score Walmart 683/ FICO Equifax 722/738/ 708 Transunion FICO 700/ 725 Credit Karma 648/678/
Goal Score 750
Credit Cards- Orchard $300, Capitol One $300/$500, Amazon $600/$1300 Pennys $700, Walmart $250/$700, Discover $2000, Chase $1500 Pending Citi/Declined Cit- Inquires and new credit....... GARDENING UNTIL 2013 or home loan time!!! Help me stay strong!!
Message 1068 of 4,736
OhMyCredit
Valued Member

Re: Auto Loan Approvals!

APPROVING BANK:  Capital One Auto Finance
BUREAU PULLED:  Equifax
CREDIT SCORE:  638 EQ (Auto Enhanced)
CUSTOMER STATE OF RESIDENCE: Virginia
NEW/USED:  NEW
YEAR OF VEHICLE: 2012
MAKE: Nissan
MODEL:  Altima
MILEAGE:  18
RETAIL/LEASE: Retail
AMOUNT OF LOAN:  $20,503.37
TERM CONTRACTED: 72 months
APR/LEASE RATE: 6.09%
MONTHLY PAYMENT: 341
ANNUAL INCOME: 31,453
MISCELLANEOUS COMMENTARY: I was preapproved from NFCU for 9.79% up to $18,200. The dealer said they could beat that interest rate and get me approved for the full amount of the loan without a down payment and they came through with the Capital One financing. My previous loan was taken out in 03 for a 01 Honda Civic at 10.94% for 60 months. Had about 19-30 day lates and 2-60 day lates on that loan which I'm disputing because I paid the car off in June 09 but was being reported late in September 09. I also had a repossession that recently was deleted from my report. I'm rebuilding credit so I'm thrilled to get such a good interest rate. My credit cards will be paid off within the next 6 months and then I plan to pay an extra 200 a month and get the loan paid off in 48 months.

Starting Score: EQ 545
Current Score: EQ 694, TU 690, EX 647(Oct 2011), TU08 693
Goal Score: 700 across the board


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Message 1069 of 4,736
dac1
Established Member

Re: Auto Loan Approvals!

APPROVING BANK:  JP Morgan Chase
BUREAU PULLED:  Transunion
CREDIT SCORE:  746
CUSTOMER STATE OF RESIDENCE: Ohio
NEW/USED:  NEW
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL:  Explorer XLT
MILEAGE:  6
RETAIL/LEASE: Retail
AMOUNT OF LOAN:  $37536
TERM CONTRACTED: 72 months
APR/LEASE RATE: 3.09%
MONTHLY PAYMENT: 580
ANNUAL INCOME: 116,000
Message 1070 of 4,736
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