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APPROVING BANK: BMW Financial Services
BUREAU PULLED: Equifax
CREDIT SCORE: 740 and 720 (joint owners)
CUSTOMER STATE OF RESIDENCE: WA
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: BMW
MODEL: 440i and X5 - yes we bought 2 :-)
MILEAGE: 0
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $69,000 and $75,000
TERM CONTRACTED: 72mo
APR/LEASE RATE: 2.99
MONTHLY PAYMENT: Too much
ANNUAL INCOME: $181,000
DEBT TO INCOME RATIO: ~0% prior to loan
MISCELLANEOUS COMMENTARY: We bought 2 cars within a week from the same dealership - I think they love us right now! Both easy approvals and both loaded cars. BMW Financed both at 2.99 which beat any other place we could find. We're happy, we'll drive them into the ground then do this all over again in a few years!
^^
I'm hoping BMW brings back .9% up to 72 months April 1st. They had it last fall. If they do, I'll skip the CU and finance through BMWFS.
APPROVING BANK: NFCU
BUREAU PULLED: TU
CREDIT SCORE: 666
CUSTOMER STATE OF RESIDENCE: NC
NEW/USED: USED/REFI
YEAR OF VEHICLE: 2017
MAKE: NISSAN
MODEL: ROGUE
MILEAGE: 17,000
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 25,250
TERM CONTRACTED: 5 yrs
APR/LEASE RATE: 4.69
MONTHLY PAYMENT: 477
ANNUAL INCOME: 60,000
DEBT TO INCOME RATIO: 23%
MISCELLANEOUS COMMENTARY: Ch. 13 discharged 9/16. Refinance to move account to NFCU since this is my only installment loan and my current CU only reports to Eq. $200 bonus after 61 days of on time payments. I think the rate was increased 1% because I exceeded the 125% LTV by $400
APPROVING BANK: CDC FCU
BUREAU PULLED: Experian
CREDIT SCORE: 656
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: New
YEAR OF VEHICLE: 2016
MAKE: Dodge
MODEL: Challenger Scat Pack
MILEAGE: 8
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $40,000
TERM CONTRACTED: 84 mo
APR/LEASE RATE: 3.45
MONTHLY PAYMENT: $537
ANNUAL INCOME: $97,000
DEBT TO INCOME RATIO: I dunno, fairly high
MISCELLANEOUS COMMENTARY: Had a 2015 Dodge Challenger Scat Pack for 2 years. Was shopping for a new one with the Shaker Package and an automatic instead of a 6 speed. Drove a Shaker Package, didn't like it. Drove an automatic, didn't like the hard shifts. Saw the Maximum Steel Metallic Clear Coat Scat Pack for $46,000. Drove it and fell in love with the sunroof, Harmon Kardan surround sound stereo and a few other bels and whistles I didn't have. Was a little bit upside down on my other loan but was able to negotiate a deal with the dealership with $0 down, my trade and total out the door price after tax, tag, title, and everything else for $40,000 even. Owed $33,858 on my trade but still got my car at a dream price. Yes, 84 months is a long term but I am able to pay $650 per month to knock that and interest down.
APPROVING BANK: InTouch CU
BUREAU PULLED: TU
CREDIT SCORE: 832
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: Used
YEAR OF VEHICLE: 2013
MAKE: Porsche
MODEL: Boxster
MILEAGE: 15,500
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $39,678
TERM CONTRACTED: 72mo
APR/LEASE RATE: 2.99
MONTHLY PAYMENT: 603
ANNUAL INCOME: $175,000
DEBT TO INCOME RATIO: ~
MISCELLANEOUS COMMENTARY: Had best rates available/approved from NFCU and Penfed; but could noty beat Intouch who had previously financed with.
APPROVING BANK: Bank of America/PenFed
BUREAU PULLED: EQ
CREDIT SCORE: 755/Unknown
CUSTOMER STATE OF RESIDENCE: MT
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: Chevrolet
MODEL: Corvette Grand Sport
MILEAGE: 0
RETAIL/LEASE: retail
AMOUNT OF LOAN: $58,000/$62000
TERM CONTRACTED: 72/60m Balloon
APR/LEASE RATE: 3.64%/2.49%
MONTHLY PAYMENT: $900/$675
ANNUAL INCOME: $145k Joint
DEBT TO INCOME RATIO: 39% with Corvette (mostly student/flight school loans)/36%
MISCELLANEOUS COMMENTARY: Also applying to PenFed and DCU, will post those results if approved. DTI is high due to my student loans and wife's flight school loans. Asked for $62,000, only approved for $58,000. Happy with APR given the DTI, but will see what/if PenFed or DCU offer. Update: Penfed Approved their payment saver loan (Balloon), detailed given above in red. Before I get some flak for considering a balloon loan, this actually saves me more money in long run as it allows me to pay off higher interest student loans first. Additonally, the corvette is destined to be completely paid off just prior to 60m (after higher interest loans are gone) with my current budget plan. These loans can be useful in certain circumstances.
@Anonymous wrote:APPROVING BANK: Bank of America/PenFed
BUREAU PULLED: EQ
CREDIT SCORE: 755/Unknown
CUSTOMER STATE OF RESIDENCE: MT
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: Chevrolet
MODEL: Corvette Grand Sport
MILEAGE: 0
RETAIL/LEASE: retail
AMOUNT OF LOAN: $58,000/$62000
TERM CONTRACTED: 72/60m Balloon
APR/LEASE RATE: 3.64%/2.49%
MONTHLY PAYMENT: $900/$675
ANNUAL INCOME: $145k Joint
DEBT TO INCOME RATIO: 39% with Corvette (mostly student/flight school loans)/36%
MISCELLANEOUS COMMENTARY: Also applying to PenFed and DCU, will post those results if approved. DTI is high due to my student loans and wife's flight school loans. Asked for $62,000, only approved for $58,000. Happy with APR given the DTI, but will see what/if PenFed or DCU offer. Update: Penfed Approved their payment saver loan (Balloon), detailed given above in red. Before I get some flak for considering a balloon loan, this actually saves me more money in long run as it allows me to pay off higher interest student loans first. Additonally, the corvette is destined to be completely paid off just prior to 60m (after higher interest loans are gone) with my current budget plan. These loans can be useful in certain circumstances.
No Flalk from me on the payment saver loan,i think it can be an excellent tool whem used properly and it seems you are doing so, enjoy new new car. ALmost whet this route on my M2 but dediced to put more down and conventially finananec the rest. Have had secdonthooughts about why i did that but i will leave well enough alone for now