On a totally unrelated topic, I have a question for enharu. How the heck did you get the palladium card? I'm a private banking client with JP Morgan and have been for over 5 years. I have asked my advisor several times and keep getting told theres a wait list and he will continue to work on it for me... I want to know who you know 
@Lyythine wrote:Sorry for the delayed response, I was travelling to the far reaches of the earth, and I want to disappear there again soon...
In response to your more recent questions, you really need to wait until your payments post and at that time, pull your fico scores from this site. Other sites or companies may offer true fico scores (PSECU, etc
That being said, your leverage in a deal like this would be availability of a down payment. In almost every case where I have had a loan on a car, I have been able to negotiate the terms I want with even a slightly higher down payment. You also cannot be afraid of walking away. You never want to get pressured into a deal youre not comfortable with or cannot afford.
Thank you for your response! Do you think that I should be pressured or asked for a higher down payment if all 3 of my credit scores will be higher than 700? It should make the Auto Enhanced one even higher since I paid off my cars 2 years sooner and I was always paying on time.
Thank you!
@Lyythine wrote:On a totally unrelated topic, I have a question for enharu. How the heck did you get the palladium card? I'm a private banking client with JP Morgan and have been for over 5 years. I have asked my advisor several times and keep getting told theres a wait list and he will continue to work on it for me... I want to know who you know
I don't think your banker knows what he is talking about with regards to the Palladium.
To be fair, my banker didn't either. When I asked her about it initially, she seemed confused and didn't have much info to offer. It was funny because I knew more about the card, application procedures, number fax the app to, etc (got all that info from FT). She called the main CPC number, went through the instructions they gave her, and submitted the app for me via fax. I received a phone call the next day from lending services about the app.
There's no wait list at this time. All you need is a CPC / JPM banker, branch manager, or someone that's managerial / executive level in one of the banking divisions to endorse the application. Have your banker also attach your banking relationship summary with the app, so that lending services won't have to ask your banker (or you) why is he/she endorsing the application.
@Anonymous wrote:Thank you for your response! Do you think that I should be pressured or asked for a higher down payment if all 3 of my credit scores will be higher than 700? It should make the Auto Enhanced one even higher since I paid off my cars 2 years sooner and I was always paying on time.
Thank you!
It depends. I wouldn't want to put down a bigger downpayment unless I absolutely need that vehicle and will not consider anything else.
If it's Ally that's wanting you to put down a bigger downpayment, then there's nothing much you can do if you really want the vehicle.
If it's the dealership wanting you to put down a bigger downpayment, I will not do it.
A big downpayment is a really bad idea for a lease vehicle because if the vehicle gets totaled, or if you are trying to get out of your lease early by transfering it, then you are screwed.
I would only consider putting down a big downpayment if it's a one-pay lease where you get a substantial discount. Most of the time, people do not do 1 pay leases. Companies do that pretty often however.
@enharu wrote:
@Lyythine wrote:On a totally unrelated topic, I have a question for enharu. How the heck did you get the palladium card? I'm a private banking client with JP Morgan and have been for over 5 years. I have asked my advisor several times and keep getting told theres a wait list and he will continue to work on it for me... I want to know who you know
I don't think your banker knows what he is talking about with regards to the Palladium.
To be fair, my banker didn't either. When I asked her about it initially, she seemed confused and didn't have much info to offer. It was funny because I knew more about the card, application procedures, number fax the app to, etc (got all that info from FT). She called the main CPC number, went through the instructions they gave her, and submitted the app for me via fax. I received a phone call the next day from lending services about the app.
There's no wait list at this time. All you need is a CPC / JPM banker, branch manager, or someone that's managerial / executive level in one of the banking divisions to endorse the application. Have your banker also attach your banking relationship summary with the app, so that lending services won't have to ask your banker (or you) why is he/she endorsing the application.
@Anonymous wrote:Thank you for your response! Do you think that I should be pressured or asked for a higher down payment if all 3 of my credit scores will be higher than 700? It should make the Auto Enhanced one even higher since I paid off my cars 2 years sooner and I was always paying on time.
Thank you!
It depends. I wouldn't want to put down a bigger downpayment unless I absolutely need that vehicle and will not consider anything else.
If it's Ally that's wanting you to put down a bigger downpayment, then there's nothing much you can do if you really want the vehicle.
If it's the dealership wanting you to put down a bigger downpayment, I will not do it.
A big downpayment is a really bad idea for a lease vehicle because if the vehicle gets totaled, or if you are trying to get out of your lease early by transfering it, then you are screwed.
I would only consider putting down a big downpayment if it's a one-pay lease where you get a substantial discount. Most of the time, people do not do 1 pay leases. Companies do that pretty often however.
Thanks so much for the info, enharu! I'll stop by his office next week once I build up enough courage to deal with the hoards of holiday shoppers... my banker's office is located in the heart of the upscale shopping district and I simply despise dealing with all the shoppers who leap out on the street at a moments notice.