Auto Loans

[Snoopy7]

APPROVING BANK: Community First Credit Union Florida
BUREAU PULLED: Equifax
CREDIT SCORE: 677
CUSTOMER STATE OF RESIDENCE: Florida
NEW/USED: USED/REFI
YEAR OF VEHICLE: 2008

MAKE: Lexus

MODEL: IS350/NAVI
MILEAGE: 30k
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 24200
TERM CONTRACTED: 60
APR/LEASE RATE: 4.5%
MONTHLY PAYMENT: New payment 451/ Previous payment 552

ANNUAL INCOME:
MISCELLANEOUS COMMENTARY:  Refinanced from Captial One. Rate was close to 11% with a 614 Experian almost a year ago.  Because of the refinance, I'm saving an additional $1200 per year: $6000 over the next 5 years. FICO was 639, auto enhanced was 677. 4% utilization on two credit cards and current on auto and studen loan.  One 90 day late in March 2012 on student loan...miscommunication with servicer.  I'm likely to add Credit Life Disability and an extended 60 mos Platinum Warranty for an additional $30 per month.  I'll update if undewriter decides to lower rate further due to proximity to next tier...*wishful thinking*. 

[migo13]

APPROVING BANK: VW Credit Leasing Ltd.
BUREAU PULLED: All 3
CREDIT SCORE:  EX FICO AUTO 08 677|EQ BEACON 09 AUTO 619|TU FICO AUTO 08 647
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2012

MAKE: Volkswagen 

MODEL: Jetta 
MILEAGE: 87
RETAIL/LEASE: Lease
GROSS CAPITALIZED COST: $16291.40

CAPITALIZED COST REDUCTION: $1999

TERM CONTRACTED: 36 Months
APR/LEASE RATE: ?
MONTHLY PAYMENT: $200.84 (Includes Tax)

ANNUAL INCOME: $47,100.00
MISCELLANEOUS COMMENTARY: Vehicle sticker price was $17,415.00.

[fmrtexan2003]

PPROVING BANK:Bank of America
BUREAU PULLED: Experian
CREDIT SCORE: 712
CUSTOMER STATE OF RESIDENCE: CT
NEW/USED: Refinance
YEAR OF VEHICLE: 2011

MAKE: Honda

MODEL: Odyssey
MILEAGE: 7800
RETAIL/LEASE:
AMOUNT OF LOAN: 16838
TERM CONTRACTED:48
APR/LEASE RATE: 3.88
MONTHLY PAYMENT: 380

ANNUAL INCOME:
MISCELLANEOUS COMMENTARY: 

Real FICO- EQ 712, EXP 712, TU- 740

[GrowingCredit]

APPROVING BANK: Affinity Federal Credit Union
BUREAU PULLED: Experian (Regular FICO)
CREDIT SCORE: 748
CUSTOMER STATE OF RESIDENCE: NJ
NEW/USED: New
YEAR OF VEHICLE: 2013

MAKE: Nissan

MODEL: Altima
MILEAGE:
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $30,000
TERM CONTRACTED: 48/60
APR/LEASE RATE: 1.99%/2.99%
MONTHLY PAYMENT:

ANNUAL INCOME: $70,000
MISCELLANEOUS COMMENTARY: Got preapproval for $30,000 from local CU for an auto loan which has 90 day validity period. I figured the car is not going to cross $30,000 mark even with all the fees/charges, Tax so put in that amount and was approved for that amount

APPROVING BANK: TD Auto Loan Finance
BUREAU PULLED: Transunion
CREDIT SCORE: 744 (Auto Enhanced)
CUSTOMER STATE OF RESIDENCE: NJ
NEW/USED: New
YEAR OF VEHICLE: 2013

MAKE: Nissan

MODEL: Altima
MILEAGE:
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 24919.50
TERM CONTRACTED: 48 months
APR/LEASE RATE: 1.99%
MONTHLY PAYMENT: 510.62

ANNUAL INCOME: $70,000
MISCELLANEOUS COMMENTARY: F&I guy squeezed in loan contract paper among other papers to sign and I asked him what was that and he said I was under impression that I was financing with them. I told him if he can match or beat that price than I will go with your finance else I am good just give me my purchase order. The rate on that was 2.74% was same from TD Auto Loans. He was so shocked/embraced that I figured out his mistake at a blink of an eye (thanks for this forum to educate us for auto loan process) that he did not try any gimmick or tactic to add-on anything else. I was in and out o dealer ship within an hour. Ultimately he requested to finance with them and he was able to match my CU’s rates so I went with his finance since I already have relation with my CU and might get my wife’s car with my CU.

[havecollectionsaccounts]

APPROVING BANK: Professional Federal Credit Union (ProFed)

BUREAU PULLED: TU

CREDIT SCORE: 638

CUSTOMER STATE OF RESIDENCE: Indiana

NEW/USED: New- Refinanced

YEAR OF VEHICLE: 2011

MAKE: Toyota

MODEL: Corolla

MILEAGE: 23,500

RETAIL/LEASE: Retail

AMOUNT OF LOAN: 11,600

TERM CONTRACTED: 42 mo/ 3 1/2 yrs

APR/LEASE RATE: 4.99%

MONTHLY PAYMENT: $308

ANNUAL INCOME: $36,500

MISCELLANEOUS COMMENTARY: Originally, my credit score was 606- auto enhanced. Capital One financed me 72 mo. $368/mo at 12.45%, $1400 down. I payed all payments on time for 15 months and even a lump sum payment of $3,600. I was approved for refi at Wells Fargo, they pulled Exp 678 credit score and approved me for a rate of 11.7%. I was told by friends that credit unions usually are more lenient and give better rates. I was surprised at the rate I received for my credit score!!! Very happy!

[cahiatt]

APPROVING BANK: Pentagon Federal Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: 718
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: New
YEAR OF VEHICLE: 2013

MAKE: Chevy

MODEL: Sonic
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $21059.47
TERM CONTRACTED: 60mos
APR/LEASE RATE: 0.99%
MONTHLY PAYMENT: $359.80

ANNUAL INCOME: $82k
MISCELLANEOUS COMMENTARY: 2013 Sonic LTZ Sedan, 1.4 turbo, sunroof. Used PenFed autobuying service to get the .99% rate. Dealer matched an extra $750 off for USAA member discount by showing insurance card also.

[aplast]

APPROVING BANK: Primeway Federal Credit Union
BUREAU PULLED: Transunion
CREDIT SCORE: 656
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: Used/Refinanace
YEAR OF VEHICLE: 2009

MAKE: Honda

MODEL: Civic
MILEAGE: 63,500
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $14,850.53
TERM CONTRACTED: 48 months
APR/LEASE RATE: 3.39%
MONTHLY PAYMENT: $331.65

ANNUAL INCOME: $50k
MISCELLANEOUS COMMENTARY: Credit union Refinanced my vehicle. Old loan was through Santander Consumer. This particular Credit union loaned based off of My Fico score only. They didnt look at what was on my report. I have one open collection to an apartment complex. Easiest loan I have ever set up. I was upsidedown and I know I still am a little bit, but phew i am alot more comfortable with the terms and I plan on making double payments every other month  

[beenjammin]

APPROVING BANK: Cap One Auto
BUREAU PULLED: Experian
CREDIT SCORE: 625
CUSTOMER STATE OF RESIDENCE:
NEW/USED: Used
YEAR OF VEHICLE: 2008

MAKE: GMC

MODEL: Sierra 1500 SLT
MILEAGE: 50,000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $24000
TERM CONTRACTED: 60 months
APR/LEASE RATE: 9.9%
MONTHLY PAYMENT:

ANNUAL INCOME:
MISCELLANEOUS COMMENTARY: Cap One's LTV was 110% - this makes shopping with a minimal down payment extremely difficult. I was approved through Cap One and shopped for a vehicle knowing that I would ask for better financing at the dealership, once I found the vehicle I wanted. I was approved with Ally through the GMC dealer and used their financing instead - see below. A week before applying with Cap One I pulled these Experian product scores: Quizzle:702, CreditInform:781, Experian Plus:667 (from Experian.com). Obviously there's something amiss with the different Experian products and their scoring models.

APPROVING BANK: Ally
BUREAU PULLED: Equifax
CREDIT SCORE: 675
CUSTOMER STATE OF RESIDENCE:
NEW/USED:Used
YEAR OF VEHICLE: 2008

MAKE: GMC

MODEL: Sierra 1500 SLT
MILEAGE: 50,000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $21,000 (after $2,000 down)
TERM CONTRACTED: 60 months
APR/LEASE RATE: 6.5%
MONTHLY PAYMENT: $415

ANNUAL INCOME:
MISCELLANEOUS COMMENTARY: Ally approved me for a much better rate, and I will save close to $3,000 over the course of the loan. The dealer did apparently "shop" me around as I saw 3 new hard inquiries the next day. I am happy with both the vehicle and the rate. This is my first financed vehicle since 2002, a loan that was paid off in 2005. I pulled an Equifax Score from myfico.com 2 weeks prior and the score was 670.

[drboxing]

If. I may ask, was your lease with GM Financial or Ally? I'm considering the same type of car. Appreciate any info

[coreyb80]

APPROVING BANK: 1st Investor

Bureau Pulled: Not sure need to check
CREDIT SCORE: 520
CUSTOMER STATE OF RESIDENCE: Illinois
NEW/USED: Used 
YEAR OF VEHICLE: 2009

MAKE: Ford

MODEL: Escape
MILEAGE: 47K
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $20000
TERM CONTRACTED: 72 months

APR/LEASE RATE: 16%
MONTHLY PAYMENT: $497

ANNUAL INCOME: $40K

This was for my wife.  My plan is to purchase me a car within the next few months.  Just had our 341 meeting this past Tuesday.