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FIRST AUTO LOAN APPROVED!

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Established Contributor

FIRST AUTO LOAN APPROVED!

I've finally got my first car loan!

 

I just financed a 2006 Honda Accord. 

 

Interest rate is 5.98%. Which is not that bad to me for a used car as well as my first time purchasing a car. Out the door, it ended up being APPROX 14.3k (dont have the paper work in front of me at the moment.) Only had to put 1k down. So my financing was 13.3k. At first, I was a little afraid of being able to get approved on my own since i'm still fairly young (23 in July) and the fact that I haven't had a car loan on my credit yet. But surprisingly, I don't need a cosigner!! 

 

NOW, I'll be able to garden for a long while. And be able to pay more things off.

 

I've only had this car for one day, and I've already fell in love with it. Has Leather seats, Navigation, Moon Roof, Power seats, etc.

 

 

Chase Sapphire Reserve-10k
Chase Freedom-4k
1st Financial Bank USA-11.4k
USAA Amex-7.5k
USAA Visa Sig-7k
Citi Thank you Preferred-4.8k
Citi Diamond-2k
Amex Gold-NPSL

FICO8-11/2017
EX: 737
EQ: 722
TU: 735
Message 1 of 5
4 REPLIES
Established Member

Re: FIRST AUTO LOAN APPROVED!

Congrats! What are your scores??

Capital One Journey Card(5/2012):$500 Discover It Student Card(4/2013):$500 NewEgg Preferred Account(5/2013):$2000


Starting Score: TU:632(4/20/13) EQ:516 (3/27/13)
Current Score: TU:676(5/20/13) EQ:617(SW Alert 5/9/13)
Goal Score: TU & EQ: 700+


Take the myFICO Fitness Challenge
Message 2 of 5
Valued Contributor

Re: FIRST AUTO LOAN APPROVED!

Congrats Smiley Happy

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 3 of 5
Established Contributor

Re: FIRST AUTO LOAN APPROVED!


tryingforgoals wrote:

Congrats! What are your scores??


THanks!

 

They ran Experian. I don't know what my FICO experian is. But they ended up pulling the FICA ( I think thats what he said). The score they use specifically for auto loans. Since I have never had an auto loan, I they pulled up 661 which was WAY lower than my actual score. My FICO Trans Union and Exquifax were both in the 700's. Experian, I'd expect to be around the same. So it was DEF a surprise to me when I saw this score.

Chase Sapphire Reserve-10k
Chase Freedom-4k
1st Financial Bank USA-11.4k
USAA Amex-7.5k
USAA Visa Sig-7k
Citi Thank you Preferred-4.8k
Citi Diamond-2k
Amex Gold-NPSL

FICO8-11/2017
EX: 737
EQ: 722
TU: 735
Message 4 of 5
Member

Re: FIRST AUTO LOAN APPROVED!

what was the name of the Bank that approved you ?

Message 5 of 5