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Auto Loan Approvals!

Regular Contributor

Re: Auto Loan Approvals!

APPROVING BANK: NFCU
BUREAU PULLED: EX
CREDIT SCORE: 710,710,713
CUSTOMER STATE OF RESIDENCE: (STATIONED OVERSEA'S BUT IT WOULD BE NEW MEXICO)
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: SUBARU
MODEL: WRX STI SEDAN
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $33,000
TERM CONTRACTED: 72 Months
APR/LEASE RATE: 2.79%
MONTHLY PAYMENT: $501 (IF I PUT $0 DOWN)
ANNUAL INCOME: $36,000
DEBT TO INCOME RATIO: <5
MISCELLANEOUS COMMENTARY:  In the military, having no bills helps out alot, app'd for 6 credit cards in one month prior to applying, over 100k in avail. credit.

***$25,500******$20,000******$20,000******$20,000******$15,000********NPSL****

Message 2011 of 3,813
New Member

Re: Auto Loan Approvals!

Apr 11.9% monthly payment 645 and term 56 months
Message 2012 of 3,813
New Member

Re: Auto Loan Approvals!

APPROVING BANK: CapOne
BUREAU PULLED: Equifax
CREDIT SCORE: 654
CUSTOMER STATE OF RESIDENCE:Florida
NEW/USED:New
YEAR OF VEHICLE:2014
MAKE:Ford
MODEL:Mustang
MILEAGE:0
RETAIL/LEASE:Retail
AMOUNT OF LOAN:26,000 and some change
TERM CONTRACTED:72
APR/LEASE RATE:6.55%
MONTHLY PAYMENT:450.00
ANNUAL INCOME:54,000
DEBT TO INCOME RATIO:10%
MISCELLANEOUS COMMENTARY:First-Time Buyer! Pretty Excited... I understand the APR can be lower but my plan is to refinance in a year.



Starting Score: 692
Current Score: 734
Goal Score: 800


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Message 2013 of 3,813
Valued Contributor

Re: Auto Loan Approvals!

APPROVING BANK: Honda Financial (they got me financed through Chase)
BUREAU PULLED: EX
CREDIT SCORE: 631
CUSTOMER STATE OF RESIDENCE: California
NEW/USED: Used
YEAR OF VEHICLE: 2012
MAKE: Honda
MODEL: Civic Si Coupe
MILEAGE: 10,242
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $21,000
TERM CONTRACTED: 48 Months
APR/LEASE RATE: 6.00%
MONTHLY PAYMENT: $493
ANNUAL INCOME: $90,000
DEBT TO INCOME RATIO: <15
MISCELLANEOUS COMMENTARY:  I got denied at Chase, US Bank, Capital One, and Bank of America. Wells fargo approved me for only $15,000 @ 19% APR lol, my local credit union approved me up to $20,000 but I had to put 40% down (**bleep**). This is my first auto loan and oh man it feels good! The car is wonderful! Having decent credit is priceless.

"I am become death, the destroyer of worlds"
Message 2014 of 3,813
Established Member

Re: Auto Loan Approvals!

APPROVING BANK:  BCU (Baxter Credit Union)
BUREAU PULLED: EX
CREDIT SCORE: EX 644, TU 659, EQ 591
CUSTOMER STATE OF RESIDENCE: Illinois
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Hyundai
MODEL: Elantra GLS w/ package & other accessories.
MILEAGE: 20
RETAIL/LEASE: Retail Purchase
AMOUNT OF LOAN: $17,219 ($2K down)
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 8.25%
MONTHLY PAYMENT:  $353.57
ANNUAL INCOME: 33K
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: Spent 9 months cleaning up credit as best I could before purchase.  Opened a secured credit card with them 8 months ago.  Completed a $250/month secured loan to bring credit up.  Brought up scores from the very low 500's in January.  After 6 payments they should refinance me dropping it by 4-5 points. After 3 car payments I will qualify for an unsecured credit card.

Message 2015 of 3,813
Established Member

Re: Auto Loan Approvals!

Congratulations. I won't advise you to refinance so soon after six months; I advise making 12 monthly on time payments then refinance and check your score before you refinance ; they might tell you now you can refinance in 6 months but it might jt be a much better rate. Don't look at a $10 a month saving; try increase the score so you'll save more money!
All the best.
Message 2016 of 3,813
Regular Contributor

Re: Auto Loan Approvals!

APPROVING BANK: BFG FCU
BUREAU PULLED: EQ
CREDIT SCORE: 714
CUSTOMER STATE OF RESIDENCE: Ohio
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Chrysler
MODEL: Town & Country Touring-L
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $35,000
TERM CONTRACTED: 72 Months
APR/LEASE RATE: %2.09 (%2.34 with a .25 discount for direct debit)
MONTHLY PAYMENT: $518
ANNUAL INCOME: $95k
DEBT TO INCOME RATIO: <%20
MISCELLANEOUS COMMENTARY: This was a pre-approval that is good for 90 days. Still shopping around and trying to find the best end of year deal I can find. DTI includes our current vehicle loan. Will probably be around %20 with new loan. I missed the %1.99 top tier by 26 points. I'm still EXTREMELY happy with the rate.
Starting Score: EQ 574 - 08.28.13
High Score: EQ 714 (10/18/13) EX 686 (1/6/14) TU 664 (1/6/14)
Current Score: EQ 686 - EX ____- TU ____

            
Message 2017 of 3,813
New Member

Re: Auto Loan Approvals!

APPROVING BANK: fifth third
BUREAU PULLED: tu
CREDIT SCORE: 692
CUSTOMER STATE OF RESIDENCE: pa
NEW/USED: used
YEAR OF VEHICLE: 20
MAKE: honda
MODEL: pilot ex-l
MILEAGE:
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $13200
TERM CONTRACTED: 63
APR: 5.89
MONTHLY PAYMENT: $288
ANNUAL INCOME:
DEBT TO INCOME RATIO:
8-28-13 - Ex. 580, Eq. 628, TU. 613
Message 2018 of 3,813
New Member

Re: Auto Loan Approvals!

APPROVING BANK: Chrysler Capital
BUREAU PULLED: Experian
CREDIT SCORE: 645
CUSTOMER STATE OF RESIDENCE: WA
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Dodge
MODEL: Journey
MILEAGE: 20
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $23,509.77
TERM CONTRACTED: 72
APR/LEASE RATE: 15.19%
MONTHLY PAYMENT: 499.54
ANNUAL INCOME: $35,600
DEBT TO INCOME RATIO: 3%
MISCELLANEOUS COMMENTARY: Bankruptcy discharged in August 2013. Had 16.12% on hand through RoadLoans.com but the dealer got me a little better. 

Message 2019 of 3,813
New Member

Re: Auto Loan Approvals!

I was able to secure financing through Ford Motor Credit at 2.9%, which beat my outside financing. Good Luck to all! This forum was extremely helpful during my loan shopping process. Regards


Starting Score: 692
Current Score: 734
Goal Score: 800


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Message 2020 of 3,813