Auto Loan Approvals!

[Anonymous]

APPROVING BANK: USAA
BUREAU PULLED: Transunion & Equifax
CREDIT SCORE: None (715 Creditkarma, 3 months of history)
CUSTOMER STATE OF RESIDENCE: New York
NEWW/USED: Used
YEAR OF VEHICLE: 2011
MAKE: Ford
MODEL: Mustang
MILEAGE: 42000 miles
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 15,000
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 8.75%
MONTHLY PAYMENT: $311
ANNUAL INCOME: 32, 000
DEBT TO INCOME RATIO: 1% before, now 13%

MISCELLANEOUS COMMENTARY: Really suprised I was approved for auto loan. I currently have 3 months of credit history with one secured credit card (500$) and 4 months of work history with one employer. I am a green card holder so have not been able to gather that much history. 300/month pay was the most I could securely get without getting in to trouble incase I do loose my job.The dealer did try to beat the usaa rate, but nobody would give me a loan, not chase, capital one etc. I am still kinda stunned USAA out of all did approve me. Also got a 1000$ secured credit card with them straight after getting the auto loan. Honestly with that rate and my history I would think they made a mistake, but I did have to send in 3 months of paystubs & 3 months of utility bills to verify income and some sort of payment history.

[Gerri]

My auto loan experience

APPROVING BANK:  NFCU

BUREAU PULLED: Equifax

CREDIT SCORE:  665

CUSTOMER STATE OF RESIDENCE: Georgia

NEW/USED: Used

YEAR OF VEHICLE: 2010

MAKE: BMW

MODEL: X3

MILEAGE: 50,000

RETAIL/LEASE: RETAIL

AMOUNT OF LOAN: 20,500

TERM CONTRACTED: 48 months

APR/LEASE RATE:  3.49

MONTHLY PAYMENT: 458.77

ANNUAL INCOME: 74,500

DEBT TO INCOME RATIO: 21%

MISCELLANEOUS COMMENTARY: Sooooo excited! First loan app in 11 years but it was painless.  Got booted in the middle of my online application on Sunday afternoon and called customer service.  The CSR completed the application with me and told me that I would get an email on Monday morning since their consumer lending dept. was backed up; however, a couple of hours later I went to my online account to check the status of a pending loan application and it said APPROVED! Jumped for joy!!  All of you were so right about Navy Federal!

[ddk369]

APPROVING BANK: BMW Financial Services
BUREAU PULLED: Experian
CREDIT SCORE: 738
CUSTOMER STATE OF RESIDENCE: NJ
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: BMW 
MODEL: 328I Xdrive (Sportline, Navigation, Cold Weather Package, Premium Package, Driver's Assistance Package, Glacier Silver)
MILEAGE: 25
RETAIL/LEASE: Lease (will own)
AMOUNT OF LOAN: ~ 42K
TERM CONTRACTED: 36
APR/LEASE RATE: unsure (the lowest rate)
MONTHLY PAYMENT: 498
ANNUAL INCOME: 65K
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: Got out of college, Working. Approved for college graduate program which includes $1000 bonus towards lease in addition to discounts, and approval for the lowest lease rate. My credit score also was good enough to get that rate as well. Extremely happy with the car first brand new car in my life and it is a good feeling. This website has helped me a lot. Now my next goals are to pay down my credit card debt by the end of the year. 

[nj23]

APPROVING BANK: Chase/Assurant Speciality (Subaru Manufactuerer financing)
BUREAU PULLED: Not Sure Exactly
CREDIT SCORE: EX 734 TU 768 EQ ??? at time of app
CUSTOMER STATE OF RESIDENCE: Maryland
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Subaru
MODEL: Impreza
MILEAGE: 95 
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 20136
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 1.9% 
MONTHLY PAYMENT: 352.80
ANNUAL INCOME: 52,000
DEBT TO INCOME RATIO: 3% ish 
**DOWN PAYMENT**: 4,000
MISCELLANEOUS COMMENTARY: Got this loan after getting 6 new credit cards the previous month.  I expect my EQ Is probably higher than TU since it was 829 pre-spree and EQ had fewer INQs than Experian.   **SOME BIZARRENESS** I was pre-approved by Chase/Subaru for the loan, but they required I bring two recent pay stubs to the dealership.  I chalked this up to Chase verifying I actually have an income after they gave me over 18k in unsecured credit limits last month and several INQs on the report(s) they probably pulled  . 

[Reincarnated]

APPROVING BANK: San Mateo Credit Union
BUREAU PULLED: Experian
CREDIT SCORE: 738
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: Used
YEAR OF VEHICLE: 2012
MAKE: Toyota
MODEL: Prius 2
MILEAGE: 53K
AMOUNT OF LOAN: 18K
APR/LEASE RATE: 5.49%
MONTHLY PAYMENT: $600
ANNUAL INCOME: 22,272
MISCELLANEOUS COMMENTARY: Refinanced mom's car under my name to lower rate from 12.99% to 5.49%.

[btswamper]

APPROVING BANK: Chase
BUREAU PULLED: TU
CREDIT SCORE: 671 (Dealer Pulled)
CUSTOMER STATE OF RESIDENCE: OK
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Ford
MODEL: Taurus SEL
MILEAGE: 10
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $33,847.85
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 6.69%
MONTHLY PAYMENT: $667.12
ANNUAL INCOME: $85,000.00
DEBT TO INCOME RATIO: 42%
MISCELLANEOUS COMMENTARY: 2008 Home Foreclosure, 2008 Vehicle Repo, 2008 Open Collection, 2012 Paid Medical Collection

Traded in a Ford Expedition that was $11,000.00 upside down, Used $5500.00 Rebate and $2000.00 Cash Down

[Dimanchi]

APPROVING BANK: Ally
BUREAU PULLED: Equifax
CREDIT SCORE: Auto-Enhanced 630?? Myfico says 671.. I had a car loan, never late
CUSTOMER STATE OF RESIDENCE: NJ
NEW/USED: New
YEAR OF VEHICLE: 2014
MAKE: Jeep
MODEL: Grand Cherokee Overland
MILEAGE: 20
AMOUNT OF LOAN/lease: 47K  
APR/LEASE RATE: 
MONTHLY PAYMENT: $500
ANNUAL INCOME: 150K
MISCELLANEOUS COMMENTARY: This s a 3 year lease with 12K miles.. surprise how low my score was given that I financed a toyota and was never late..

[downtoearth72]

APPROVING BANK:American Honda Financing

BUREAU PULLED: Transunion

CREDIT SCORE:685

CUSTOMER STATE OF RESIDENCE: PA

NEW/USED: New

YEAR OF VEHICLE: 2014

MAKE: Honda

MODEL: Pilot Touring

MILEAGE: 20 miles

RETAIL/LEASE: Retail

AMOUNT OF LOAN: $40930.06

TERM CONTRACTED: 72 months

APR/LEASE RATE: 4.09 %

MONTHLY PAYMENT: $643

ANNUAL INCOME: over $53000.

DEBT TO INCOME RATIO: 39%

MISCELLANEOUS COMMENTARY: Already in the works with Navy Fed for refi. at 2.79 % bringing payments down about 20 a month. Plus the $250 into savings after 60 days. I also will be cancelling the service contract which I was under the impression I had to get at the time of sale. That was NOT true. I have until the original warranty is about to expire to get it. I also got GAP whcih was a seperate transaction.

[clz123]

APPROVING BANK: CDC Federal Credit Union
BUREAU PULLED: not sure
CREDIT SCORE: 715
CUSTOMER STATE OF RESIDENCE: CO
NEW/USED: Refinance of new 
YEAR OF VEHICLE: 2012
MAKE: Fiat 
MODEL: 500
MILEAGE: 14000
RETAIL/LEASE: 20000
AMOUNT OF LOAN: 13000
TERM CONTRACTED: 48
APR/LEASE RATE: 3.25
MONTHLY PAYMENT: 290
ANNUAL INCOME: variable
DEBT TO INCOME RATIO: 10
MISCELLANEOUS COMMENTARY: refinanced to add my daughter on loan to start building her credit.

[TraumaMomm2]

APPROVING BANK: Hyundai
BUREAU PULLED:
CREDIT SCORE: 651
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2015
MAKE: Hyundai
MODEL: Tuscon
MILEAGE: 5
RETAIL/LEASE: Loan
AMOUNT OF LOAN: @$25,000
TERM CONTRACTED: 72 months
APR/LEASE RATE: 3.65%
MONTHLY PAYMENT: $430
ANNUAL INCOME: $91,000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: We were also approved through USAA at 7.1% and Logix Federal Credit Union (where our current car is financed) at 6.24%. We let the dealer try to beat it and they blew it out of the water. We were shocked!!!