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Auto Loan Approvals!

Established Contributor

Re: Auto Loan Approvals!

APPROVING BANK: USAA
BUREAU PULLED: EQ
CREDIT SCORE: 649
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: USED
YEAR OF VEHICLE: 2009
MAKE: HONDA
MODEL: ACCORD
MILEAGE: 45.000
RETAIL/LEASE: REFINANCED
AMOUNT OF LOAN: 18.500
TERM CONTRACTED: 60
APR/LEASE RATE: 4.95
MONTHLY PAYMENT: 349
ANNUAL INCOME: 85K
MISCELLANEOUS COMMENTARY: i love USAA. they refinanced from 20.9(santander) to 8.4 APR, then 1 month later my credit score up 20 pt from 62x to 649 they refinanced down to 4.9 . But i still have 2 CO with 0 balance and 1 unpaid medical CA
10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Established Member

Re: Auto Loan Approvals!

APPROVING BANK: Navy Federal Credit Union
BUREAU PULLED: EQ (??)
CREDIT SCORE: 688 EQ/690+ (Hubby's EQ)
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL: Edge SEL
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $34K
TERM CONTRACTED: 72 mos
APR/LEASE RATE: 2.79%
MONTHLY PAYMENT: $513
ANNUAL INCOME: $66K+
MISCELLANEOUS COMMENTARY: So if you've read any of my posts, I originally went through USAA when I had 4K (620 EQ) in credit debt and was still approved for 25K (no budge) at 4.59% for 72 months. Well I decided not to take it and just pay off my credit cards and try again when it reported to my score/report. Well it finally reported and my score jumped to 688 EQ. I called USAA again and asked for $34K (tax and registration included) and they said no..only 20K at 12.99% (!!!!) Turns out they weren't calculating in my husbands special pays and after that, offered 29K but still 12.99%. I asked why such a huge interest rate difference from before when my credit score obviously jumped and debt became less. Guy agreed with me but had no idea why. So I applied with NFCU (became members last week) and they approved us for the full 34K in less than 10 minutes. I go pick up my check tomorrow and brand new ford edge in the morning Smiley Happy))) Everyone was right, NFCU is awesome!
Starting Score: FICO EQ 663 (02/04/13)
Current Score: FICO EQ 687
Goal Score: FICO EQ 700 (March 2013)
Contributor

Re: Auto Loan Approvals!


LMBray09 wrote:
APPROVING BANK: Navy Federal Credit Union
BUREAU PULLED: EQ (??)
CREDIT SCORE: 688 EQ/690+ (Hubby's EQ)
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL: Edge SEL
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $34K
TERM CONTRACTED: 72 mos
APR/LEASE RATE: 2.79%
MONTHLY PAYMENT: $513
ANNUAL INCOME: $66K+
MISCELLANEOUS COMMENTARY: So if you've read any of my posts, I originally went through USAA when I had 4K (620 EQ) in credit debt and was still approved for 25K (no budge) at 4.59% for 72 months. Well I decided not to take it and just pay off my credit cards and try again when it reported to my score/report. Well it finally reported and my score jumped to 688 EQ. I called USAA again and asked for $34K (tax and registration included) and they said no..only 20K at 12.99% (!!!!) Turns out they weren't calculating in my husbands special pays and after that, offered 29K but still 12.99%. I asked why such a huge interest rate difference from before when my credit score obviously jumped and debt became less. Guy agreed with me but had no idea why. So I applied with NFCU (became members last week) and they approved us for the full 34K in less than 10 minutes. I go pick up my check tomorrow and brand new ford edge in the morning Smiley Happy))) Everyone was right, NFCU is awesome!

Congrats on your victory over the APR. Smiley Happy I still do not understand why many people with 675+ keep on going with USAA and get a 4.99%+, when they can go with NFCU and get a 1.79-2.99% with the same score! It's a no brainer! Once again congrats and enjoy you new vehicle! Smiley Very Happy

USAA PLATINUM MC: $9.5k | CHASE SAPPHIRE PREFERRED: $5k | NFCU FLAGSHIP REWARDS: $5k | USAA VFW REWARDS: $4k | BARCLAYS FINANCING VISA: $2.3k | CHASE AMAZON REWARDS: $2k | DISCOVER IT: $1k | AMEX BCP: $1K | PAYPAL SC: $1.3k | MACYS: $1.2k | EXPRESS: $600 | NFCU LOC: $2.5k | NFCU AUTO LOAN: $21k
Established Member

Re: Auto Loan Approvals!

APPROVING BANK:Bank of America
BUREAU PULLED:Not sure
CREDIT SCORE:749 EQ
CUSTOMER STATE OF RESIDENCE:CA
NEW/USED:New
YEAR OF VEHICLE:2013
MAKE:Honda
MODEL:Fit
MILEAGE:NA
RETAIL/LEASE:$15,400
AMOUNT OF LOAN:15,000
TERM CONTRACTED:6 years/72 months
APR/LEASE RATE:2.74
MONTHLY PAYMENT:~$226
ANNUAL INCOME:35,000
MISCELLANEOUS COMMENTARY: Went on B of A webiste and applied, got a instant phone call to verify some stuff, now just have to pick a color. Hoping to take delivery after work sometime this week. VERY EXCITE!
Established Member

Re: Auto Loan Approvals!

This thread is very useful. Congrats to everyone



Starting Score: 583 February 16, 2013
Current Score: EQ 634 April 11 TU 645 (Walmart) April 2013
Goal Score: 700


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Regular Contributor

Re: Auto Loan Approvals!

APPROVING BANK: American Honda Financial Corp
BUREAU PULLED: Experian
CREDIT SCORE:605
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: Certified Used
YEAR OF VEHICLE: 2010
MAKE: Honda
MODEL: CRV EX
MILEAGE: 25,600
RETAIL/LEASE: Retai
AMOUNT OF LOAN:$ 18, 323
TERM CONTRACTED: 5 yrs
APR/LEASE RATE: 11.09
MONTHLY PAYMENT: $ 399
ANNUAL INCOME: $ 40K
MISCELLANEOUS COMMENTARY: First time buyer, and I happy to get financed at with this rate given the dings and pings in my credit. This was the lowest rate I was offered (Roadloans, Credit Union, & recently denied by Chase, Honda & CapOne for loans). I figure in a year or so when I have developed a payment histroy and cleaned up my CR some more-I will try to refi at a much more decent rate. Thus far happy and very content.
***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
Valued Member

Re: Auto Loan Approvals!


BKFireFly wrote:
APPROVING BANK: American Honda Financial Corp
BUREAU PULLED: Experian
CREDIT SCORE:605
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: Certified Used
YEAR OF VEHICLE: 2010
MAKE: Honda
MODEL: CRV EX
MILEAGE: 25,600
RETAIL/LEASE: Retai
AMOUNT OF LOAN:$ 18, 323
TERM CONTRACTED: 5 yrs
APR/LEASE RATE: 11.09
MONTHLY PAYMENT: $ 399
ANNUAL INCOME: $ 40K
MISCELLANEOUS COMMENTARY: First time buyer, and I happy to get financed at with this rate given the dings and pings in my credit. This was the lowest rate I was offered (Roadloans, Credit Union, & recently denied by Chase, Honda & CapOne for loans). I figure in a year or so when I have developed a payment histroy and cleaned up my CR some more-I will try to refi at a much more decent rate. Thus far happy and very content.

How much did you have to put down?

EQ 700 Trans 695 Exp 722
Regular Contributor

Re: Auto Loan Approvals!

i chose to put 1500 down. Kinda wish I put more, but decided I'll just make chunk payments once I figure out how Honda financial allies extra payments
***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.

Re: Auto Loan Approvals!

APPROVING BANK: Hyundai Motor Finance
BUREAU PULLED: EQ
CREDIT SCORE: 542
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: Hyundai
MODEL: Sonata Hybrid
MILEAGE: 17
RETAIL/LEASE: retail
AMOUNT OF LOAN: 27500
TERM CONTRACTED: 72
APR/LEASE RATE: 13.79
MONTHLY PAYMENT: 559
ANNUAL INCOME: 52k
MISCELLANEOUS COMMENTARY: not thrilled about the APR but Carmax had offered me 24% on a used version of the same model with 7k on the car. Only went to dealership to test drive car, ended up getting a good deal and will be refinancing in about 6 months, just have to pay down credit cards since that is the only reason that my score is low.
NFCU nRewards Secured - $500 (opened 3/16) | NFCU CashRewards - $5500 (opened 10/16) | NFCU Platinum - $6700 (opened 10/16) | NFCU Platinum - $2500 (opened 2/17) | Synchrony car care - $5000 (opened 4/17) | Old Navy - $3000 (opened 4/17) | American Eagle - $280 (opened 4/17) | TJ Maxx - $400 (opened 4/17) | Kohls - $300 (opened 1/17)

Current Scores: EQ - 519 EX - 524 TU - 530
Moderator

Re: Auto Loan Approvals!


jessientyler0726 wrote:
APPROVING BANK: Hyundai Motor Finance
BUREAU PULLED: EQ
CREDIT SCORE: 542
CUSTOMER STATE OF RESIDENCE: SC
NEW/USED: NEW
YEAR OF VEHICLE: 2012
MAKE: Hyundai
MODEL: Sonata Hybrid
MILEAGE: 17
RETAIL/LEASE: retail
AMOUNT OF LOAN: 27500
TERM CONTRACTED: 72
APR/LEASE RATE: 13.79
MONTHLY PAYMENT: 559
ANNUAL INCOME: 52k
MISCELLANEOUS COMMENTARY: not thrilled about the APR but Carmax had offered me 24% on a used version of the same model with 7k on the car. Only went to dealership to test drive car, ended up getting a good deal and will be refinancing in about 6 months, just have to pay down credit cards since that is the only reason that my score is low.

Heh seriously congrats, I would've adored to get that rate with my own 551 Auto EX pull; seriously that dealer did you right, though admittedly I did get a pretty easy refinance 8 months later down to 6%, so likely once your CC debt is paid and you have positive history on the auto loan (6+ months) you likely can do better depending where your scores wind up.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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