Auto Loans

[ShowCredit]

APPROVING BANK: TD Auto Finance
BUREAU PULLED: Experian
CREDIT SCORE: 661  (I checked on MY Fico the day before and was at 671)
CUSTOMER STATE OF RESIDENCE: Fl

NEW/USED: Used
YEAR OF VEHICLE: 2010

MAKE: Honda

MODEL: Accord EX
MILEAGE: 70214

RETAIL/LEASE: Retail
AMOUNT OF LOAN: $15,800
TERM CONTRACTED: 66 months
APR/LEASE RATE: 4.29 APR
MONTHLY PAYMENT: $326 (including GAP and 3 year maintenance)

ANNUAL INCOME: 60,000
MISCELLANEOUS COMMENTARY: Was initially offered 8.9% at the dealer but told them I was preapproved at my CU at 4.29% so I would finance with them.  They lowered ratee to 6.9% and I said I would call my CU in the morning and get it done.    Then they offered me 4.29% if I bought the warranty and gap insurance.  I asked why can't I get the 4.29% without the warranty and gap insurance, he said I can cancel it at anytime and keep the 4.29 rate, which is exactly what I will be doing in 30 days.

[Mishwatson]

Do you have to be in the services to join Uaaa?

[maiden_girl]

66 months is an odd term. So 5 years and 6 months? Very very odd term indeed! But congrats!

[ShowCredit]

I thought so too, but I am going to work on paying it off in 3 years.

[marysfico]

APPROVING BANK: Cap One
BUREAU PULLED: EX
CREDIT SCORE: 609
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: NEW
YEAR OF VEHICLE: 2013

MAKE: tbd

MODEL: tbd
MILEAGE: 7
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 36000
TERM CONTRACTED: 60
APR/LEASE RATE: 6.8
MONTHLY PAYMENT:

ANNUAL INCOME: 70,000
MISCELLANEOUS COMMENTARY: 4 open trade lines, BK <12 months ... For those with low scores, there's hope. 

APPROVING BANK: GM
BUREAU PULLED: EX
CREDIT SCORE: 590
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: NEW
YEAR OF VEHICLE: 2012

MAKE: tbd

MODEL: tbd
MILEAGE: 7
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 25000
TERM CONTRACTED: 72
APR/LEASE RATE: 6.7
MONTHLY PAYMENT:

ANNUAL INCOME: 70,000
MISCELLANEOUS COMMENTARY: So the dealership offered me 9% and gave me a bunch of explanations to the rate (credit, repo, bk, etc). I said NO Thank you and pulled out my shiny Cap One check for 36k at 6.8%. Dealer gave me all the possible reasons why the Cap One check wouldn't work (i.e. all the Dealer forms that they have to submit and how it's at the mercy of Cap One). I told them.. look, it says you only need to submit one form, and that's proof that I work. You have my paystub which is more than sufficient. Reluctantly, they let me sign the paper work for Cap One but still required that I get set up with their 9% for backup. They also threatened me.. that if Cap One doesn't fund the check in 5 business days, that I'd have to go with the 9%. I said.. look, it's Saturday and there's an upcoming holiday. I can't help it that the banks are closed for 2 of the 5 days you're giving me. They gave me this whole Policy and Law explanation. I asked.. can I see that policy in writing? At which point, they admitted that it was not in writing anywhere. So.. I reluctantly signed the paper work too. At one point, I thought.. Maybe I should come back to buy the car when it's not a holiday and not a weekend so that I have the 5 full business days. Luckily, it didn't get to that point. Because if it did.. I probably wouldn't have went shopping elsewhere. Anyhow, I was done w/ the paperwork and already out in the lot getting into my new car. At which point, the finance guy had a change of heart...They chased me down and said they were able to match with better terms. Surprising...but not so surprising. 

[ds3]

APPROVING BANK: Audi/VW Credit

BUREAU PULLED: TU

CREDIT SCORE: 643

CUSTOMER STATE OF RESIDENCE: California

NEW/USED: New

YEAR OF VEHICLE: 2013

MAKE: Audi

MODEL: A4 Platinum Plus Quattro

MILEAGE: 32

RETAIL/LEASE: Retail

AMOUNT OF LOAN: 48500 (includes extra warranties) 

TERM CONTRACTED: 72

APR/LEASE RATE: 6.4

MONTHLY PAYMENT: 821

ANNUAL INCOME: 135000

MISCELLANEOUS COMMENTARY: Declined by my CU, applied online through Audi...was approved right away for 88% of MSRP. Pretty happy about the rate, they gave me a loyalty discount because I just bought a 2013 Passat in October. The Audi is for my wife. We will refi both cars through our CU next year.

[electra]

Hi ds3,

Are you in the Bay Area by chance? If so, would you mind saying what dealer you went to and what the experience was like?  I am looking to buy an Audi Q5 in Feb.   Also, do you know if they used straight up TU score or auto-enhanced?

[ds3]

---

electra wrote:

Hi ds3,

Are you in the Bay Area by chance? If so, would you mind saying what dealer you went to and what the experience was like?  I am looking to buy an Audi Q5 in Feb.   Also, do you know if they used straight up TU score or auto-enhanced?

---

I'm in SoCal...bought it from Walter's Audi in Riverside. Really easy purchase once we finally found one we wanted. They must have used an auto-enhanced TU because my TU on WalMart is 613. So far, I really like VW credit.

[JackLavender2010]

MY FIRST POST!

APPROVING BANK: Americredit
BUREAU PULLED: Equifax
CREDIT SCORE: 608 (Down from 643 due to lots of recent hard pulls from credit cards and auto financing)
CUSTOMER STATE OF RESIDENCE: Tennessee
NEW/USED: Used
YEAR OF VEHICLE: 2010

MAKE: Mazda

MODEL: 3s sport (Certified Pre-Owned, additional 50,000 mile powertrain warranty)
MILEAGE: 46000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $17000 (including GAP insurance) 
TERM CONTRACTED: 72 months
APR/LEASE RATE: 14.9
MONTHLY PAYMENT: 365

ANNUAL INCOME: 30000
MISCELLANEOUS COMMENTARY: My trade-in was financed through NuVision Federal Credit Union, and they are willing to refinance this loan at 5.7 percent once I pay it down to $15,000! I will probably take advantage of this in a couple of months. Love my new [to me] car! 

[TrishN]

APPROVING BANK:BMW
BUREAU PULLED:ALL 3
CREDIT SCORE:EQ 628 TU 650 EX 618
CUSTOMER STATE OF RESIDENCEC
NEW/USED:USED
YEAR OF VEHICLE:2010

MAKE:BMW

MODEL:328I COV
MILEAGE:44000
RETAIL/LEASE:FINANCE
AMOUNT OF LOAN:31000 with GAP
TERM CONTRACTED:60
APR/LEASE RATE:8.4
MONTHLY PAYMENT:606

ANNUAL INCOME:60000
MISCELLANEOUS COMMENTARY:BMW turn me down 8 months ago,now my score jumpt 50 pts bc from 70% baddies+CA came off my credit repot,now only hospital CA,paid CO and paid verizon CA on my credit report. lender may not like CA and baddie,but when you paid that is look better