@Anonymous wrote:
I joined and applied in branch the same day(i work 10 minutes from a branch ) originally asked for $25k and was approved . was told to go to dealer make deal and give them vehicle vin . was told that they do loans up to 110% LTV.
Well when got to dealer after trade in ect. i was going to need about 32k in financing , went back to branch they said no problem approved me for 32k at 6.5% , also asked me if i wanted a credit card, approved me for penfed visa rewards at $8.5 K !( my highest cclimit was cap one at $1300!) I had a fico score of 559 in oct of2015! I had just paid off a cap one auto loan of 17.99%. I signed loan docs and was out of branch in 30 minutes , all this was done same day! hope this helps you! Oh my income is $60k
My profile is very similar to yours.. Thanks for sharing your data points and experience.
I too have a current Auto Loan with Cap One at 9.1% APR and currently 5K upside down.
Dealer gave me final val with the upside down for 36K which is beyond my approved loan of 33K. I have a 8K cash that I can pay off the upside down and will probably put 3K down towards the final val to lower my monthly payment.
Due to PenFed not having a local branch here in NY, it would probably take me multiple trips to the dealership to finalize this.
