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Established Member
rossusa
Posts: 19
Registered: ‎04-05-2013
0

Pre-approved by US Bank!

I went from FICO 642 to 714 in 3 months, Thank You Forum! Then today got a pre-approval for $35,000 auto loan from US Bank. Not sure the interest rate or when I'll find out, I may need to call them.

Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
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Re: Pre-approved by US Bank!


rossusa wrote:

I went from FICO 642 to 714 in 3 months, Thank You Forum! Then today got a pre-approval for $35,000 auto loan from US Bank. Not sure the interest rate or when I'll find out, I may need to call them.


Great bank, congrats. See if you can get promo financing from the dealer.

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%
Established Member
rossusa
Posts: 19
Registered: ‎04-05-2013
0

Re: Pre-approved by US Bank!

Got a call from the bank, 2.49% for 48 months up to 3.49% for 72 months. Now to visit the dealer and find out what they can do.

Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
0

Re: Pre-approved by US Bank!


rossusa wrote:

Got a call from the bank, 2.49% for 48 months up to 3.49% for 72 months. Now to visit the dealer and find out what they can do.


Stick with the 48 month's if the dealer can't hook you up with something better.

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%
Contributor
bellrod44
Posts: 76
Registered: ‎12-05-2011
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Re: Pre-approved by US Bank!


rossusa wrote:

Got a call from the bank, 2.49% for 48 months up to 3.49% for 72 months. Now to visit the dealer and find out what they can do.


How long did it take for them to call you? I just got preapproved yesterday for $22K.

Cards in my wallet: BofA 1-2-3 Rewards - $3,000 (5/2012), Walmart - $350 (9/2012), Home Depot - $500 (10/2012), US Bank - $1,000 (11/2012)
Established Member
rossusa
Posts: 19
Registered: ‎04-05-2013
0

Re: Pre-approved by US Bank!

Got pre approved online then a couple of hours later got an email telling me to call with any questions. I called and got a voicemail but they called me right back. I was surprised to get a personal email and phone contact number, not just a generic contact number. Impressed with US Bank customer service. It may help that I'm a current customer.

Contributor
bellrod44
Posts: 76
Registered: ‎12-05-2011
0

Re: Pre-approved by US Bank!


rossusa wrote:

Got pre approved online then a couple of hours later got an email telling me to call with any questions. I called and got a voicemail but they called me right back. I was surprised to get a personal email and phone contact number, not just a generic contact number. Impressed with US Bank customer service. It may help that I'm a current customer.


Can you PM me the number you called? I want to reach out to them to get the rate. I'm thinking about going shopping this weekend. I'd hope, as a current customer and employee, I'd be able to get an answer. :smileylol:

Cards in my wallet: BofA 1-2-3 Rewards - $3,000 (5/2012), Walmart - $350 (9/2012), Home Depot - $500 (10/2012), US Bank - $1,000 (11/2012)
Established Member
rossusa
Posts: 19
Registered: ‎04-05-2013
0

Re: Pre-approved by US Bank!

Got my car today: 2013 Altima, $29,000 financed. The dealer beat US Bank with 2.8% for 72 months. I'm very pleased with that rate! 

Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
0

Re: Pre-approved by US Bank!

[ Edited ]

Ugh, why did you go with the higher rate?

 

The dealer probably could have done 1.9% for 60 month's.

 

The long loan terms people are going with is starting to frustrate me. How can you predict your financial outlook for the next 6 years? Or even keep a vehicle for 6 years. Paying such a small amount each month on something that goes down in value so quickly is just setting yourself up for problems.

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%
Established Member
rossusa
Posts: 19
Registered: ‎04-05-2013
0

Re: Pre-approved by US Bank!

They wouldn't have gone to 1.9%, maybe 2.4%. Based on the way I make payments and the fact that I keep my cars until they die, I was very happy with the term and rate.


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