Auto Loans

[yudeology101]

APPROVING BANK: Santander Consumer U
BUREAU PULLED: All 3
CREDIT SCORE: 533 Equifax (Aug. 28, 12)
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: USED
YEAR OF VEHICLE:2009

MAKE:BMW

MODEL:328i Coupe White
MILEAGE:30,092
RETAIL/LEASE:Retail
AMOUNT OF LOAN:28,710
TERM CONTRACTED: 72 months
APR/LEASE RATE: 15.2
MONTHLY PAYMENT:623
MISCELLANEOUS COMMENTARY: Wanted to rebuild my credit back up, had $2500 cash for down payment.  Going to try to refinance after 6months if possible.  How long does it take before I see gradual change in my credit increase?  Just checked my scores again and it went down to 499 (Sep. 5th, 12). 

[locolady]

APPROVING BANK: Chase
BUREAU PULLED: EXPERIAN TRANSUNION
CREDIT SCORE: 668  792
CUSTOMER STATE OF RESIDENCE: Ca
NEW/USED: New
YEAR OF VEHICLE: 2013

MAKE: Cadillac

MODEL: XTS
MILEAGE: 14
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 43944 +11.5=55k otd
TERM CONTRACTED: 72
APR/LEASE RATE: 2.65%
MONTHLY PAYMENT: $660

ANNUAL INCOME: $105K
MISCELLANEOUS COMMENTARY: Trade in my 2011 only 1k underwater. I also got supplier pricing on this car so with $12.5k down I'm fine with the loan. Only part was another dealer tried to screw me with a 9% apr saying this was the best he could do I ran out there fast.

[SFarrow11]

APPROVING BANK: PenFed
BUREAU PULLED: EQ
CREDIT SCORE: 799
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: Used
YEAR OF VEHICLE: 2010

MAKE: Lexus

MODEL: RX 350
MILEAGE: 19732
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 33225
TERM CONTRACTED: 60
APR/LEASE RATE: 1.49
MONTHLY PAYMENT: 575

ANNUAL INCOME: 130K
MISCELLANEOUS COMMENTARY: Improved scores over 200 pts over a three year period.  Needed two vehicles back to back due to return from overseas assignment.  Anyone wanting to improve their scores, please continue to read the forums and be patient.  I wouldn't be able to quailfy for these loan rates with it.  Thanks.

[SFarrow11]

APPROVING BANK: NFCU
BUREAU PULLED: TU
CREDIT SCORE: 792
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: Used
YEAR OF VEHICLE: 2012

MAKE: Acura

MODEL: TL SH-AWD 6MT
MILEAGE: 14228
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 29720
TERM CONTRACTED: 60
APR/LEASE RATE: 1.79
MONTHLY PAYMENT: 518

ANNUAL INCOME: 130K
MISCELLANEOUS COMMENTARY: Improved scores over 200 pts over a three year period.  Looking for this car for months.  Lucked out and found a used 2012 for over 10k less than MSRP.  Needed two vehicles back to back due to return from overseas assignment.  Anyone wanting to improve their scores, please continue to read the forums and be patient.  I wouldn't be able to quailfy for these loan rates with it.  Thanks.

[zan987]

Did you put any money down?

[SFarrow11]

Yes, $6K for the Acura and $3K with $3.5K trade in allowance for the Lexus.  

[MyCreditSucksTheMost]

APPROVING BANK:Roadloans
BUREAU PULLED:EQ
CREDIT SCORE:618(lowest of the bunch, rest are almost 650)
CUSTOMER STATE OF RESIDENCE:TX
NEW/USED:Used
YEAR OF VEHICLE:2006

MAKE:Ford

MODEL:Mustang GT
MILEAGE:34K
RETAIL/LEASE: Private Party
AMOUNT OF LOAN:15250
TERM CONTRACTED:48 Months
APR/LEASE RATE:14.5%(had as low as 12 for retail loan, but this turned out to be a better deal)
MONTHLY PAYMENT:$310.25

ANNUAL INCOME:74,000
MISCELLANEOUS COMMENTARY:My first auto loan, ever! I plan to refi here in 6-10 months for a hopefully much better rate, until than, I'm gardening!!

Update: I actually got loan documents today and refused to sign because it showed my credit score much lower than it really was, after talking to their underwriting they corrected my APR to 11.49%   Still sucks, but a good bit better.

Also, these people take forever, has anyone else here ever done a private party purchase with Roadloans before?

[germaine47]

I have a ford mustang that I have had for 10 years with 200,000 miles and my baby is just now giving me a little trouble.  I have had to replace some minor parts but nothing major.  If the current owner have taken care of the auto it should last you for years to come.  I would suggest that you ask for service history before moving forward.

[s_rob7488]

APPROVING BANK: US BANK
BUREAU PULLED: TU & EQ
CREDIT SCORE: TU 739 EQ 728 WIFE-TU 698 EQ 718 
CUSTOMER STATE OF RESIDENCE: NE
NEW/USED: NEW
YEAR OF VEHICLE: 2013

MAKE: JEEP

MODEL: GRAND CHEROKEE LAREDO 26X PKG & LAREDO E 
MILEAGE: 39
RETAIL/LEASE: LEASE
AMOUNT OF LOAN: 39 MO
TERM CONTRACTED: N/A
APR/LEASE RATE: N/A
MONTHLY PAYMENT: $411

ANNUAL INCOME: 92K
MISCELLANEOUS COMMENTARY: Wasn't overly impressed with the sleeze bag salesman that we had. Father in law had bought vehicle from his about a year ago and beat the guy up with getting to the right price for 3-4 days. Ended up getting to the right price after 4-5 times going back and forth and was ready to walk after the offer we got before the numbers were right. Was a birthday gift for my wife and we're both happy with the purchase. Will have a residual value will be $20425 and that is fine by me. Got the Jeep from $40250 down to $35600 and had $2000 for trade on the lease we had before. 

[MyCreditSucksTheMost]

 I had the vehicle fully inspected by a company before purchase, it scored 94/100.  It runs great, and mechanically is very sound.