Talked to Nissan dealer and they said....

[pritchardhallhokie]

Well, I'm looking to get financing through Nissan and should have my score around 680 after getting uti % to <10% this month.  I said that I'd heard of the 1.9 APR on the internet for people in the mid even lower mid 600s.  He literally laughed and said that a 620 for example would be 16.99% (Tier 4) through Nissan and maybe someone got a little confused (using a very condesending tone) while still laughing.  WTF?!?!

[Creditaddict]

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@pritchardhallhokie wrote:

Well, I'm looking to get financing through Nissan and should have my score around 680 after getting uti % to <10% this month.  I said that I'd heard of the 1.9 APR on the internet for people in the mid even lower mid 600s.  He literally laughed and said that a 620 for example would be 16.99% (Tier 4) through Nissan and maybe someone got a little confused (using a very condesending tone) while still laughing.  WTF?!?!

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he is the confused one... I would locate the next closest dealer to me... also don't listen to sales people, you need to be in the dealership with the car picked out talking to finance manager.  Clearly over the last couple months we have seen many people get the promo special and also you can go online and choose your score range and gives you the promo rate all the way down to 600-620

[Anonymous]

While what he said may not be 100% accurate, it does carry some weight. It's his job, he sees applicants on a daily basis. Credit score and util alone don't determine approval.

Having a high income, downpayment and successful close of an auto loan or a long AAoA can have a big impact not only on the rate but also on approval. You may be able to get Tier 1 at 680 and your plan is sound but even having a 720 doesn't automatically mean first tier so keep that in mind.

[Anonymous]

FICO score alone does not dictate rates/acceptance.

Yes there are tiers, but tiers can be flexible with other things in mind such as deposit, LTV and just the finance officer making a plea. Or even just how the deal is structured.

A solid citizen with a 4 yo Bk who has re-established credit and has a house with a 14 year job and a wife that has been working for 2 years will look completely different then a 620 just out of college.

I once had a lady call me over the phone and say "I have a 720 credit score and I want a new Expedition EL."

So there was hemming and hawing and I was asking her questions and she ket repeating her credit score like a mantra and how she wanted to come in tonight and buy one.

I was like OK well lets get your deal ready while you are driving out this way, would you be adverse to me running a credit report over the phone.

She was not, so I did and she had a 700 beacon.

But she was also 20. She was on SSI with no job, making $1300 a month and $400 a month child support. And did not understand that the brand new $55,000 vehicle she wanted would cost her over 1100 a month before she put gas in it.

She was very indignant.

I handed her over to Special Finance. At some point he just yelled at her and hung up on her, she had no clue. (and no way to get a car and no way was she buying so it did not matter)

[MarineVietVet]

Earlier this evening I removed a post that was offensive and completely unnecessary to the discussion. It carried racial overtones and in no way could it be considered friendly, supportive, or respectful. It violated the forum's User Guidelines that say, among other things:

Inappropriate material

In the spirit of a healthy and helpful community, profanity, spam, personal attacks, flaming, and other inappropriate postings are not tolerated.  Such material may be edited or removed, and egregious or repeat offenders will be banned from future participation in FICO Forums.

I won't publicly call out the poster but you know who you are and this is a friendly warning to refrain from doing this in the future.

[pritchardhallhokie]

I don't see anything racist in any of these posts....

[MarineVietVet]

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@pritchardhallhokie wrote:

I don't see anything racist in any of these posts....

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If you re-read my comments I said I had removed that post.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[mross1080]

I would talk to someone in fiance and not a salesperson that might not know what they were talking about. 619 and was approved with no issues at all with minimal history. I do have a good income also  so other factors are at play. But tier 4 still qualified for there best rate. And I just checked the nissan site it still does on there payment calculator to.

[marty56]

I would go to a local CU and show them your CR and see if they would give you an idea of the rates they would offer your.  Best case you get a better offer.  wrost case you  have a baseline for your rate and a fallback plan.

[sweets2323]

I would like to by the Nissan  Oddeysee or the Toyota Seinna,

My score is 636 but, My Debt Ratio is 75% doesnt that mean I am going to get one of those High rates as well.

The Credit uniuon denied me. cuz of the Debt ratio, but I Cant afford  car with a interest rate of 16% omg!!!

I was going to start applying to the dealership and see what they ca do for me. with in the 30 day frame. so it acan count as one hit