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Regular Contributor
Posts: 123
Registered: ‎12-07-2015
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Re: FINALLY GET TO POST MINE!

APPROVING BANK: HONDA FINANCIAL SERVICES
BUREAU PULLED: EX
CREDIT SCORE: 635
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: CERTIFIED PRE-OWNED
YEAR OF VEHICLE: 2017
MAKE: HONDA
MODEL: ACCORD SPORT
MILEAGE: 7700
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 19K
TERM CONTRACTED: 60 MOS
APR/LEASE RATE: 8.74
MONTHLY PAYMENT: 440/MO
ANNUAL INCOME: 60K
MISCELLANEOUS COMMENTARY: WILL REFI LATER (18/24 MOS).

NORDSTROM- 6K, NEIMAN MARCUS 20K, PENFED PLAT 5K, PENFED AMEX 5K, CAP ONE QS 4K, CAP ONE PLAT 1.1K, CARECREDIT 6K.

IN GARDEN SINCE 9/1/2016
Valued Member
Posts: 33
Registered: ‎11-16-2013
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Re: FINALLY GET TO POST MINE!

That's really high for your score. I got a 8.5% with a 600 and now im at 5% when I hit a 640. Will refi again in a few months when im at a stable 680, 660 now. 

 

I would suggest trying a credit union.

Fico: Beginning 506 (11/2013)
TU 619 (10/2015)
1/2017: Equifax 659, TU 655, Experian 642
Mortgage middle: TU 630
Goal 700 (but will settle for mortgage 640)

Current: TU 660
New Contributor
Posts: 70
Registered: ‎08-29-2017
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Re: FINALLY GET TO POST MINE!

I have a membership with them but my F9 score was a 587 according to them so i may have to wait 6 months.

New Visitor
Posts: 1
Registered: ‎05-23-2017
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Re: Auto Loan Approvals!

APPROVING BANK: PenFed
BUREAU PULLED: Equifax
CREDIT SCORE: 750
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: Used
YEAR OF VEHICLE: 2014
MAKE:Chevy
MODEL: Equinox
MILEAGE: 36000
RETAIL/LEASE: retail
AMOUNT OF LOAN: 21865
TERM CONTRACTED: 72 months
APR/LEASE RATE: 3.99
MONTHLY PAYMENT: 348
ANNUAL INCOME: $50k
DEBT TO INCOME RATIO: 25%
MISCELLANEOUS COMMENTARY: We traded in a 2015 Kia Soul and we were a little upside down on it... okay a lot. Got a really good deal and was able to roll the payments over. Our interest with the Kia was 14% so its nice to qualify for the lowest rate possibly for a Pedfed Used Auto Loan. Never thought Id be here at that point.

New Member
Posts: 1
Registered: ‎12-04-2016
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Re: Auto Loan Approvals!

APPROVING BANK: American Honda Finance Company
BUREAU PULLED: Equifax
CREDIT SCORE: 673
CUSTOMER STATE OF RESIDENCE: Ok
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: Honda
MODEL: Civic Touring
MILEAGE: 9
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 29361
TERM CONTRACTED: 60
APR/LEASE RATE: 0.9
MONTHLY PAYMENT: $500.81
ANNUAL INCOME: 64,000
DEBT TO INCOME RATIO: ?
MISCELLANEOUS COMMENTARY: Qualified for 3.4% but brought it down to 0.9% after I agreed to extended warranty and GPS theft recovery I wanted anyway.
Moderator
Posts: 15,380
Registered: ‎10-07-2014

Re: Auto Loan Approvals!


Almostthere78 wrote:
APPROVING BANK: American Honda Finance Company
BUREAU PULLED: Equifax
CREDIT SCORE: 673
CUSTOMER STATE OF RESIDENCE: Ok
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: Honda
MODEL: Civic Touring
MILEAGE: 9
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 29361
TERM CONTRACTED: 60
APR/LEASE RATE: 0.9
MONTHLY PAYMENT: $500.81
ANNUAL INCOME: 64,000
DEBT TO INCOME RATIO: ?
MISCELLANEOUS COMMENTARY: Qualified for 3.4% but brought it down to 0.9% after I agreed to extended warranty and GPS theft recovery I wanted anyway.

Welcome to MyFICO

 

Congrats on your new car.  It's good that you wanted those extra items but just so you and others know, none of that has any effect whatsoever on the rate for your loan.  They're just trying to make people believe that they have to purchase add-ons to secure the best rate when that's complete b.s.  I would advise people in similar circumstances that if an F&I person tells you that, tell them to pound sand and to give you the lower rate or you're walking out.  Add-ons have their place for the right price but they should be sold and purchased on their value not under a lie.

Community Leader
Valued Contributor
Posts: 2,506
Registered: ‎10-22-2015

Re: Auto Loan Approvals!


Irish80 wrote:

Almostthere78 wrote:
APPROVING BANK: American Honda Finance Company
BUREAU PULLED: Equifax
CREDIT SCORE: 673
CUSTOMER STATE OF RESIDENCE: Ok
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: Honda
MODEL: Civic Touring
MILEAGE: 9
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 29361
TERM CONTRACTED: 60
APR/LEASE RATE: 0.9
MONTHLY PAYMENT: $500.81
ANNUAL INCOME: 64,000
DEBT TO INCOME RATIO: ?
MISCELLANEOUS COMMENTARY: Qualified for 3.4% but brought it down to 0.9% after I agreed to extended warranty and GPS theft recovery I wanted anyway.

Welcome to MyFICO

 

Congrats on your new car.  It's good that you wanted those extra items but just so you and others know, none of that has any effect whatsoever on the rate for your loan.  They're just trying to make people believe that they have to purchase add-ons to secure the best rate when that's complete b.s.  I would advise people in similar circumstances that if an F&I person tells you that, tell them to pound sand and to give you the lower rate or you're walking out.  Add-ons have their place for the right price but they should be sold and purchased on their value not under a lie.


Irish is absolulte correct.  It's tactics like these that gives dealerships a bad name.  It's great that you wanted these add-ons but when I read stories of such I want to scream ATTORNEY GENERAL so loud.  The Attorney General is like kryptonite to dealerships. 

New Member
Posts: 1
Registered: ‎12-07-2016

Re: Auto Loan Approvals!

[ Edited ]

APPROVING BANK:GM Financial
BUREAU PULLED:Transunion and Equifax
CREDIT SCORE:617 fico auto 8
CUSTOMER STATE OF RESIDENCE: Maryland
NEW/USED:Used
YEAR OF VEHICLE:2012
MAKE: Dodge
MODEL: Durango R/T
MILEAGE:61165
RETAIL/LEASE:
AMOUNT OF LOAN:22,800
TERM CONTRACTED:72 mos
APR/LEASE RATE:12.3%
MONTHLY PAYMENT:422.00
ANNUAL INCOME:50,000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: 0 down payment. Will refi in 12 months.

Valued Member
Posts: 40
Registered: ‎01-06-2017

Re: Auto Loan Approvals!

[ Edited ]

APPROVING BANK: Capital One Auto Finance
BUREAU PULLED: Equifax
CREDIT SCORE: 686
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: New
YEAR OF VEHICLE: 2018
MAKE: Toyota
MODEL: Camry
MILEAGE: 36
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $29,438
TERM CONTRACTED: 72 months
APR/LEASE RATE: 7.39
MONTHLY PAYMENT: $509
ANNUAL INCOME: $52k
DEBT TO INCOME RATIO: ?
MISCELLANEOUS COMMENTARY: Rate of 7.39 isn't THEE best, but sure beats my last auto loan rate of 17.3%!!! I've come a long way on my credit journey since I got that loan, which was also through Capital One. Dealer wanted me to go through Southeast Toyota, but they didn't approve me because I still have an open loan on my other car (with about 6 months left). I'll probably refi in about a year or so through my CU. LOVE MY NEW CAR! 

Established Contributor
Posts: 810
Registered: ‎01-18-2017
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Re: Auto Loan Approvals!


Almostthere78 wrote:
APPROVING BANK: American Honda Finance Company
BUREAU PULLED: Equifax
CREDIT SCORE: 673
CUSTOMER STATE OF RESIDENCE: Ok
NEW/USED: New
YEAR OF VEHICLE: 2017
MAKE: Honda
MODEL: Civic Touring
MILEAGE: 9
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 29361
TERM CONTRACTED: 60
APR/LEASE RATE: 0.9
MONTHLY PAYMENT: $500.81
ANNUAL INCOME: 64,000
DEBT TO INCOME RATIO: ?
MISCELLANEOUS COMMENTARY: Qualified for 3.4% but brought it down to 0.9% after I agreed to extended warranty and GPS theft recovery I wanted anyway.

Did the loan amount include negative equity from your last car? $29K for a Civic seems a little high but then its been over a decade since I last bought a car-alot has changed since then Smiley Very Happy


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