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Auto Loan Approvals!

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Dustink
Valued Contributor
‎03-12-2013 11:03 PM
‎03-12-2013 11:03 PM

Re: Auto Loan Approvals!

@DrSkeeter wrote:

Finally, I qualify to post on this topic!!!!

 

APPROVING BANK: CarMAX Auto Financial
BUREAU PULLED: EQ
CREDIT SCORE: 641Fico but when I saw CarMAX papers, It was 625 Auto..
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: Used
YEAR OF VEHICLE: 2010
MAKE: Mercedes
MODEL: E350 4Matic
MILEAGE: 40.6k
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 36k
TERM CONTRACTED: 72mo
APR/LEASE RATE: 5.8%
MONTHLY PAYMENT: 611
ANNUAL INCOME: 3k + tips a month
MISCELLANEOUS COMMENTARY: Was going to do 60months at 4.8 but I went with 72 for the lower payments, but going to pay more than minimum anyways. Went with that just in case I need to use my funds for other things. Planning on paying off within 5years, 4 would be nice.
BTW, I've dreamt of this car for months, now it's parked right outside. White w/panoramic roof.. 

Taking the loan for 72 months at 5.8% vs 60 months at 4.8% cost you an extra $30 per month in interest. Even if you pay extra that 1% higher rate always adds up. If you carry the loan all the way through, you will be paying an extra $2,150 in interest. All to have a minimum payment that is $80 per month lower. I don't understand.

 

Also, did they slip something else in? 36k at 5.8% for 72 months is $593 per month.

 

But all in all with your scores ect. Congrats on that sweet ride.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 1641 of 4,736
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Anonymous
Not applicable
‎03-13-2013 09:03 PM
‎03-13-2013 09:03 PM

Re: Auto Loan Approvals!

APPROVING BANK: PenFed
BUREAU PULLED: EQ
CREDIT SCORE: 766
CUSTOMER STATE OF RESIDENCE: MD
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: 
MODEL: 
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 22k
TERM CONTRACTED: 60 mo
APR/LEASE RATE: 1.24%
MONTHLY PAYMENT: 378
ANNUAL INCOME: 20000
MISCELLANEOUS COMMENTARY: Still in school but work provides reimbursement for classes. Can't decide what to buy Smiley Sad. I was thinking to have just applied for the 48 months, .74% but I rather have my money in the bank just in case Smiley Happy. After calling penfed for misc questions regarding my loan, the representative said if I needed a higher loan then to just call them up again. Go PenFed!
Message 1642 of 4,736
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Dustink
Valued Contributor
‎03-13-2013 09:12 PM
‎03-13-2013 09:12 PM

Re: Auto Loan Approvals!

@Anonymous wrote:
APPROVING BANK: PenFed
BUREAU PULLED: EQ
CREDIT SCORE: 766
CUSTOMER STATE OF RESIDENCE: MD
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: 
MODEL: 
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 22k
TERM CONTRACTED: 60 mo
APR/LEASE RATE: 1.24%
MONTHLY PAYMENT: 378
ANNUAL INCOME: 20000
MISCELLANEOUS COMMENTARY: Still in school but work provides reimbursement for classes. Can't decide what to buy Smiley Sad. I was thinking to have just applied for the 48 months, .74% but I rather have my money in the bank just in case Smiley Happy. After calling penfed for misc questions regarding my loan, the representative said if I needed a higher loan then to just call them up again. Go PenFed!

Nice, I am liking my new Subaru. They might be worth test driving. If you don't need/want AWD. Then I would check out Nissan.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 1643 of 4,736
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DrSkeeter
Established Member
‎03-13-2013 11:12 PM
‎03-13-2013 11:12 PM

Re: Auto Loan Approvals!

yeah you are right about the rate. and its very understandable.. but i am planning on paying more than minimum every month. 611ish is minimum and i can do up to 1000 every month.. yeah i also added a 5year/100k warrenty to it thru carmax.. my sales guy who helped me thru the whole week was very helpful.. I can take the car to any german shop that takes their warrenty, or even Mercedes dealerships.. but if i take it to carmax, the deductable is $50 less.. dont remember the exact total for the warrenty, but its around 2k.. thanx, i love the car.. found the car online tues night.. got approved wed 3/6, paid for the transfer from VA to FL, the sales guy told me it got shipped fri, monday around 2:30 3/11, went to sign papers and put the down payment, and i was done within a hour.. those 5days waiting felt forever.. So far, nothings wrong with the car, drives like a beast.. 10,000 mile oil changes.. btw, its is offically the frist car i've bought on my own name.. 

Message 1644 of 4,736
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htownfanatic
Member
‎03-14-2013 09:12 AM
‎03-14-2013 09:12 AM

Re: Auto Loan Approvals!

APPROVING BANK: NFCU
BUREAU PULLED: EQ/TU
CREDIT SCORE: 651/621
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Honda
MODEL: Crosstour
MILEAGE: 12
RETAIL/LEASE: Retail
AMOUNT OF LOAN: Up to 35k
TERM CONTRACTED: 60mo
APR/LEASE RATE: 2.79%
MONTHLY PAYMENT: depends on final amount
ANNUAL INCOME: 63k
MISCELLANEOUS COMMENTARY: After helping my BFF get established with her new car loan, I joined nfcu and applied for an auto loan, & 2 credit cards. Was really shocked to get this interest rate based upon scores and 2 baddies on my report although they are scheduled to drop off this year. I feel really privileged to be apart of nfcu and them putting their trust in me.
Message 1645 of 4,736
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Strepthroat
Frequent Contributor
‎03-14-2013 11:42 AM
‎03-14-2013 11:42 AM

Re: Auto Loan Approvals!

APPROVING BANK: Hyundai

BUREAU PULLED: EQ
CREDIT SCORE: 779 & 811 (Spouse)
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Hyundai
MODEL: Genesis Coupe 3.8 Track
MILEAGE: 12
RETAIL/LEASE: Lease
AMOUNT OF LOAN: Not sure
TERM CONTRACTED: 36
Months APR/LEASE RATE: N/A
MONTHLY PAYMENT: 500
 
MISCELLANEOUS COMMENTARY:  Approved for 2013 Toyota Camry SE two days before this loan approval. Rolled negative equity from 2011 BMW into lease.
Chase Marriott Visa $25,000 | Chase Southwest Visa $25,000 | PFCU Visa $20,000 | Capital One Savor $20,000 | Nordstrom Visa $20,000 | GUCU Visa $10,500 | CapitalOne Quicksilver Visa $10,000 | US Bank Perks Visa $9,000 | Barclays Cash Forward Visa $6,000 | BB&T Spectrum Cash Visa $3,500
Message 1646 of 4,736
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Dustink
Valued Contributor
‎03-14-2013 10:21 PM
‎03-14-2013 10:21 PM

Re: Auto Loan Approvals!

@Strepthroat wrote:

APPROVING BANK: Hyundai

BUREAU PULLED: EQ
CREDIT SCORE: 779 & 811 (Spouse)
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Hyundai
MODEL: Genesis Coupe 3.8 Track
MILEAGE: 12
RETAIL/LEASE: Lease
AMOUNT OF LOAN: Not sure
TERM CONTRACTED: 36
Months APR/LEASE RATE: N/A
MONTHLY PAYMENT: 500
 
MISCELLANEOUS COMMENTARY:  Approved for 2013 Toyota Camry SE two days before this loan approval. Rolled negative equity from 2011 BMW into lease.

Spending $18k to rent a car...yuck

 

Sorry....

 

Congrats on the new car.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 1647 of 4,736
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Strepthroat
Frequent Contributor
‎03-15-2013 07:11 AM
‎03-15-2013 07:11 AM

Re: Auto Loan Approvals!

you spend your pennies your way, i'll spend my dollars my way.

Chase Marriott Visa $25,000 | Chase Southwest Visa $25,000 | PFCU Visa $20,000 | Capital One Savor $20,000 | Nordstrom Visa $20,000 | GUCU Visa $10,500 | CapitalOne Quicksilver Visa $10,000 | US Bank Perks Visa $9,000 | Barclays Cash Forward Visa $6,000 | BB&T Spectrum Cash Visa $3,500
Message 1648 of 4,736
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Flying_High
Regular Contributor
‎03-15-2013 07:21 AM
‎03-15-2013 07:21 AM

Re: Auto Loan Approvals!

@Dustink wrote:
@Strepthroat wrote:

APPROVING BANK: Hyundai

BUREAU PULLED: EQ
CREDIT SCORE: 779 & 811 (Spouse)
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Hyundai
MODEL: Genesis Coupe 3.8 Track
MILEAGE: 12
RETAIL/LEASE: Lease
AMOUNT OF LOAN: Not sure
TERM CONTRACTED: 36
Months APR/LEASE RATE: N/A
MONTHLY PAYMENT: 500
 
MISCELLANEOUS COMMENTARY:  Approved for 2013 Toyota Camry SE two days before this loan approval. Rolled negative equity from 2011 BMW into lease.

Spending $18k to rent a car...yuck

 

Sorry....

 

Congrats on the new car.

+1

As of 9/13"
Starting Score: 600
Goal Score: 740
Garden till 10/14"
Message 1649 of 4,736
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Flying_High
Regular Contributor
‎03-15-2013 07:21 AM
‎03-15-2013 07:21 AM

Re: Auto Loan Approvals!

@Strepthroat wrote:

you spend your pennies your way, i'll spend my dollars my way.

+1

As of 9/13"
Starting Score: 600
Goal Score: 740
Garden till 10/14"
Message 1650 of 4,736
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