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@Anonymous wrote:I'm suprise the loaning CU actually asked for POI. The only time I was asked for POI was when my score was in the 450 range and from capital one. Few months ago I got a loan from a patelco credit union for 96k with a 690 ish score and wasn't ask for POI. Also did a loan for 59k those Acura financial and wasn't ask. Another 38.5k through Toyota financial and wasn't ask and another 38.5k through Sheffield and wasn't ask
All depends -
Went to Car Max, Sandtander's sign and drive, no POI with 22%. Didn't go that route, up in Washington, Gateway One you can't apply directly only via dealer. Again no POI, 18.23% only put down rebate ($500), approved score was 610 EX.
Seems to me at extreme ends they won't ask for income verify.
@ More fun: Capital One Auto Navigator wanted me to send them POI, but when I told them the amount I put in was based on all my income not just what they would accept, they said my approval amount would change but likely be denied based on my income being too low. That's what my CU (Logix) told me when I asked for a loan so I can get out of my Hyundai. With a 639 EX score they would give me $20,000 @9.99% with POI. They won't take my Uber income either so I was denied. SDFCU flat said no period because of the repo.
$20,000 with 639 score sounds about right because that's what a local Ford dealer said back in 2015, otherwise I would drop down to Tier 5 if I wanted to borrow more.
Just like ground hog day I apply again with a UTL of 35% for a loan around $30,000 and flat denied by Ally, Citizen One, Capital One and sombody else.
It's simple with lower scores and a repo banks don't want to lend me more than $20,000. Capital One Auto Navigator said if I can prove I make X amount they would give me $23,500, that's $3,500 more than Logix.
Hopefully all this madness will be coming too an end soon.
@Dj4Money wrote:
@Anonymous wrote:I'm suprise the loaning CU actually asked for POI. The only time I was asked for POI was when my score was in the 450 range and from capital one. Few months ago I got a loan from a patelco credit union for 96k with a 690 ish score and wasn't ask for POI. Also did a loan for 59k those Acura financial and wasn't ask. Another 38.5k through Toyota financial and wasn't ask and another 38.5k through Sheffield and wasn't ask
All depends -
Went to Car Max, Sandtander's sign and drive, no POI with 22%. Didn't go that route, up in Washington, Gateway One you can't apply directly only via dealer. Again no POI, 18.23% only put down rebate ($500), approved score was 610 EX.
Seems to me at extreme ends they won't ask for income verify.
@ More fun: Capital One Auto Navigator wanted me to send them POI, but when I told them the amount I put in was based on all my income not just what they would accept, they said my approval amount would change but likely be denied based on my income being too low. That's what my CU (Logix) told me when I asked for a loan so I can get out of my Hyundai. With a 639 EX score they would give me $20,000 @9.99% with POI. They won't take my Uber income either so I was denied. SDFCU flat said no period because of the repo.
$20,000 with 639 score sounds about right because that's what a local Ford dealer said back in 2015, otherwise I would drop down to Tier 5 if I wanted to borrow more.
Just like ground hog day I apply again with a UTL of 35% for a loan around $30,000 and flat denied by Ally, Citizen One, Capital One and sombody else.
It's simple with lower scores and a repo banks don't want to lend me more than $20,000. Capital One Auto Navigator said if I can prove I make X amount they would give me $23,500, that's $3,500 more than Logix.
Hopefully all this madness will be coming too an end soon.
Yes with lower score they will want to see POI. Low score is anything under 660-680. OP has a 730 that's why suprise got asked for POI
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |