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Auto Loan Approvals!

Member

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)

Message 1691 of 3,819
Established Member

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....
Message 1692 of 3,819
New Contributor

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.  

FICO EX 811, EQ 821, TU 826
Message 1693 of 3,819
Member

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?

Message 1694 of 3,819
Moderator Emeritus

Re: Auto Loan Approvals!


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
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MyFICO Fitness Goal: 800s Club!



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Message 1695 of 3,819
Valued Contributor

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:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 1696 of 3,819
Member

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

Message 1697 of 3,819
Established Member

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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Message 1698 of 3,819
Member

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. 

Message 1699 of 3,819
Moderator Emeritus

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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Message 1700 of 3,819