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New Contributor
kese
Posts: 60
Registered: ‎07-09-2012

Today, i sealed my first 0% financing-

Thanks everyone in myfico. i have tremendously benifited from your advices and insights.

Today, i sealed a deal for a 2013 highlander at 0% with 0 downpayment.

I asked what CB they will pull and they told me all but will pick the best one. I told them to spare me a hardpull and transunion. I pulled myfico transunion score last night , so i knew it was 702. I didnt tell him my score.

And he said Ok. WOOOOW, a wopping 719-Auto enhanced. My first auto financing.

 

But, i am still nervous. The sales rep came out and said congratulation your score was so good that you can buy anything you want.

But then, The financing manager came out shook my hand and said, "Congratulation, you are approved for the 0% TFS. There was little issue but i did take care of it-=you have a really nice score"

 

What is that supposed to be?

 

anyway, i signed up the paper work and they will deliver the car for me in the next couple days.

 

I will fill the auto approval form for more information.


Starting Score: 598
Current Score: Trans union fico 713 (myfico 11/1/2012), EQ fico 671, exp 666 by AMEX
Goal Score: 720 across

In my wallet: GE/walmart at $10500, 2 capital ones at $750 each, Elan financial at $400, Amex BCP-$1000, AMEX Gold Delta at $2500, Discover more at $6,000 and Chase freedom at $3000

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Established Contributor
guydiver
Posts: 534
Registered: ‎08-30-2007

Re: Today, i sealed my first 0% financing-

Congrats.  I think tier 1 with TFS is around 680.  Only problem with zero down is you are upside down on the loan for quite some time.  You should consider gap coverage also.  Good job.

MyFICO Forums ROCK!! & . Been There, Done That. Never Going Back! Goal>>>> 800,800,800!

Starting Score: 1/05 upper 500's??Current Score: FICO: EQ 783, TU(98) 790, EX 814(Vantage) 779(CS) Goal Score: .....800 IS ON MY BUCKET LIST! EX ,BITE ME! .:smileyvery-happy:
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Valued Contributor
Epcot
Posts: 2,760
Registered: ‎10-10-2012

Re: Today, i sealed my first 0% financing-

Congrats on the nice score and financing! That's great!

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 780 EX 770 TU 774
App free since 4/11/13
Mega Contributor
Creditaddict
Posts: 16,863
Registered: ‎10-23-2007

Re: Today, i sealed my first 0% financing-


guydiver wrote:

Congrats.  I think tier 1 with TFS is around 680.  Only problem with zero down is you are upside down on the loan for quite some time.  You should consider gap coverage also.  Good job.


I would be shocked if they did not HIGHLY suggest this... and if you didn't take it, I would go back and sign the papers TO GET IT!!

and as other said putting no down has you little upside down but why put it down if it's 0%!!! but maybe set a little aside knowing you did it this way...

Fico Scores: EQ 620, TU 675 & EX 703 (4-1-14)
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Mine: Navy NavCheck $3000, Kay Jewelry $2700, Pottery Barn $2800, FleetCard MC Biz $1800, HSN $1500, Vitacost MC $1500, Navy Cash $1500 and nRewards $1500, Bill Me Later $772, Cap1 Sony $750, Cap1 Spark $750, Best Buy MC $750, GE 76 Gas $650, Von Maur $600, Cap1 QuickSilver $500, Burbank CU $500, Kohls $300, Target1 $300, Target2 $300, Buckle $250, Express $250, Target3 $200
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: Today, i sealed my first 0% financing-

Congrats

Regular Contributor
coreyb80
Posts: 105
Registered: ‎07-26-2012

Re: Today, i sealed my first 0% financing-

Congrats!

New Contributor
kese
Posts: 60
Registered: ‎07-09-2012

Re: Today, i sealed my first 0% financing-

Thanks guys.

I picked up my car today and yes Toyota financial approved me. he actually showed me with my score of 719.

i also did purchase the gap insurance at a discounted price.


Starting Score: 598
Current Score: Trans union fico 713 (myfico 11/1/2012), EQ fico 671, exp 666 by AMEX
Goal Score: 720 across

In my wallet: GE/walmart at $10500, 2 capital ones at $750 each, Elan financial at $400, Amex BCP-$1000, AMEX Gold Delta at $2500, Discover more at $6,000 and Chase freedom at $3000

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Established Member
Credit_Query01
Posts: 11
Registered: ‎12-12-2011

I would like to know if your score drops after the loan h...

I would like to know if your score drops after the loan hits the credit reports. I have heard of the score dropping as much as 30 points after taking on a new car loan.

Is this accurate ?

New Contributor
kese
Posts: 60
Registered: ‎07-09-2012

Re: I would like to know if your score drops after the loan h...

It still did not hit but i will definitely inform you about it. Hopefully its not 30-40 points.

I also added four new cards, AMEX Gold delte and BCP, chase freedom and discover.

So i will take a beating but hope its not really bad.

 

Anyway i am not to apply for anything so not a big deal


Starting Score: 598
Current Score: Trans union fico 713 (myfico 11/1/2012), EQ fico 671, exp 666 by AMEX
Goal Score: 720 across

In my wallet: GE/walmart at $10500, 2 capital ones at $750 each, Elan financial at $400, Amex BCP-$1000, AMEX Gold Delta at $2500, Discover more at $6,000 and Chase freedom at $3000

Take the FICO Fitness Challenge
Valued Member
wwtthhpp
Posts: 55
Registered: ‎02-12-2009

Re: Today, i sealed my first 0% financing-

Is applying at the TFS website any different than doing the financing at a Toyota dealership?  I am currently looking at Camry because of the 0% financing and the nice College Graduate Program that have as well.


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