Jaguar (Chase?) Approval Requirements

[Anonymous]

Hello,

First time poster but long time reader.  I've been looking at the new Jaguar F-Pace S and wanted to get some input here as to what I should expect approval-wise before I go to the dealer.

My credit is in good shape but I paid cash for my last 2 cars, so my last car loan has already fallen off.  I think this is hurting my Auto Score.  My current score is around the 750's, all CC activity and a handful of paid off installment loans.  Zero black marks whatsoever.  My Auto score is a bit lower, probably from lack of auto loan history.

The car I'm looking at is about $75k out the door.  My base salary is $288k + bonus.  Housing expenses are about 8% of my gross income and I have no non-revolving debt.  CC's hover around 6-10% depending on much I spent that much.

Any idea what I shoud expect as far general approval and terms?

[fltireguy]

I'm not sure about Chase criteria.

Have you looked into PenFed? You should qualify for their lowest rates with your score... you do not have to be a member to apply AFAIK

[Anonymous]

First off, excellent taste in cars. I love the F-Pace. Second, welcome to the board. I just got a 2017 Jag XE, approved through Chase. My profile and situation are similar to yours. Your scores are a bit higher and your income is about triple and I also paid for cash for my previous cars. This was my first auto finance of any kind. However I did lease my Jag so not sure if there's a difference in approvals if you're buying. When they ran my credit originally I was approved at Tier 5 as Chase was a bit spooked that I had never financed a car and my first of any kind was a brand new Jaguar. I asked the dealership to try to work something out with the bank to get my payments lower, he called back Chase and boom they approved me at Tier 1. I think you should be a shoe in with the info you gave us honestly. I also have 3 credit cards with Chase so I do have a good relationship with them. Car loan showed up right away on the Chase app, it's really easy to make payments. Good luck OP !! Please keep us updated. You will love the Jag !!