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Member
Drklon
Posts: 13
Registered: ‎03-29-2013

Re: Auto Loan Approvals!

APPROVING BANK: Dealer / Local CU
BUREAU PULLED: EQ (I think) auto enhanced
CREDIT SCORE: Joint (709, 683)
CUSTOMER STATE OF RESIDENCE: OR
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL: Focus
MILEAGE: New
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $16,800
TERM CONTRACTED: 72
APR/LEASE RATE: 3.2
MONTHLY PAYMENT: $250
ANNUAL INCOME: about 45k
MISCELLANEOUS COMMENTARY: First car purchase for me, first one in over 10 years for my wife.  We had a lot of anxiety going into it, but we pre-approved through capital one first which relieved some of our anxiety, then the dealer was able to beat in terms of the overall deal (1% more APR, but we got a massive dealer incentive which lowered the principal significantly)

Established Member
MmeLucie
Posts: 23
Registered: ‎08-07-2008

Re: Auto Loan Approvals!

APPROVING BANK:Truliant Federal Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE:709
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE:2013
MAKE: Honda
MODEL: Accord
MILEAGE:6
RETAIL/LEASE:Retail
AMOUNT OF LOAN:22,000
TERM CONTRACTED:60 months
APR/LEASE RATE:2.44

MISCELLANEOUS COMMENTARY: The Credit Union is the BEST way to go....
Established Member
etstrong98
Posts: 17
Registered: ‎08-09-2012

Re: Auto Loan Approvals!

APPROVING BANK: Alley
BUREAU PULLED: TU
CREDIT SCORE: 700
CUSTOMER STATE OF RESIDENCE: MI
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Buick
MODEL: Enclave
MILEAGE: 10
RETAIL/LEASE: Lease
AMOUNT OF LOAN: MSRP 53000
TERM CONTRACTED: 24 month
APR/LEASE RATE: 1.0
MONTHLY PAYMENT: 498
ANNUAL INCOME: 55000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY

 

APPROVING BANK: Lincoln Fin. (ford credit)
BUREAU PULLED:TU
CREDIT SCORE:700
CUSTOMER STATE OF RESIDENCE: MI
NEW/USED: Used
YEAR OF VEHICLE: 2011
MAKE: lincoln
MODEL: Navigator
MILEAGE: 54,000
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 40000
TERM CONTRACTED: 72
APR/LEASE RATE: 2.9
MONTHLY PAYMENT: 590
ANNUAL INCOME: 55000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY

 

Approved for both went with the lease, surprised me, I guess all the hard work is starting to pay off. My last auto loan through the CU was for 11k at a 9% interest rate.  

Beginning Scores 470
Current Scores - 04/04/2013 FICO TU 700 EQ 689
Lender Pulled EX 700
GOAL 2013 all over 720 and AMEX
Cap1 500 & 1500 Walmart 900 Amazon 1400 Target 600 Kay's 2000 WFNNB (multi) 1750 Oldest card 15 years Aver 2 years
Member
Eve23
Posts: 14
Registered: ‎04-02-2013

Re: Auto Loan Approvals!

Quick Question:

 

Applying on the followings below:

 

- Navy Federal Credit Union

 

- PenFed

 

Do you have to be a member to apply or get approved?

Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Auto Loan Approvals!

[ Edited ]

Eve23 wrote:

Quick Question:

 

Applying on the followings below:

 

- Navy Federal Credit Union

 

- PenFed

 

Do you have to be a member to apply or get approved?


Yes... however the membership for PenFed can be obtained by Joining one of two organizations. With Navy you have to be either active duty or retired military (veteran doesnt' count unless you are RETIRED) or coast gaurd.  or the family member of an active duty, or RETIRED military personnell

 

PenFed Membership.png


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012

Re: Auto Loan Approvals!


MmeLucie wrote:
APPROVING BANK:Truliant Federal Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE:709
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE:2013
MAKE: Honda
MODEL: Accord
MILEAGE:6
RETAIL/LEASE:Retail
AMOUNT OF LOAN:22,000
TERM CONTRACTED:60 months
APR/LEASE RATE:2.44

MISCELLANEOUS COMMENTARY: The Credit Union is the BEST way to go....

Not always. Sometimes promo financing can be better. Did you ask Honda about it?

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Member
Eve23
Posts: 14
Registered: ‎04-02-2013

Re: Auto Loan Approvals!

I see. Anyone has any suggestion or recommend any other place to acquire a loan other than Capital One and Bofa?

 

Location: Southern CA

Member
Rocd
Posts: 30
Registered: ‎01-13-2013

Re: Auto Loan Approvals!


Eve23 wrote:

I see. Anyone has any suggestion or recommend any other place to acquire a loan other than Capital One and Bofa?

 

Location: Southern CA


Whats wrong with capital one. They got me in at 9.73 throught the dealer and I was at 583 at the time. I'm was at 633 few days ago till a new collections that dropped me to 619 but that only set me back 3-4 months. I would get the loan and just refinace 6months to a year later. That's what I plan on doing.


Starting Score: 1/9/13 579EQ 550EX 560TU
Current Score: 1/9/13 579EQ 550EX 560TU
Goal Score: 650


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Member
Eve23
Posts: 14
Registered: ‎04-02-2013

Re: Auto Loan Approvals!

@ Rocd, oh don't get me wrong.. I do plan on applying to both mentioned above. I have CC on both. 

 

I just wanted to compare rates and their terms. 

Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Auto Loan Approvals!


Eve23 wrote:

@ Rocd, oh don't get me wrong.. I do plan on applying to both mentioned above. I have CC on both. 

 

I just wanted to compare rates and their terms. 


 

Eve23 you can become a Penfed member with no issues after you donate $15 to the organization

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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