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Trying to get first auto loan

Valued Contributor

Re: Trying to get first auto loan

That's too bad Prestige doesn't work with a dealer in your area. I hope all goes well at the dealership. Keep us posted.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 11 of 28
Regular Contributor

Re: Trying to get first auto loan

Just got approval from MCU 18K. 13% Super Happpy!!!!!!

***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
Message 12 of 28
Regular Contributor

Re: Trying to get first auto loan

Congrats!

Message 13 of 28
Valued Contributor

Re: Trying to get first auto loan

Wow!!! Congrats!!! That is fantastic!!! And that isn't too bad of a rate at all!
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 14 of 28
Regular Contributor

Re: Trying to get first auto loan

Thanks everyone. I am so estatic-i've been dancing since I got off the phone. The online app said I was not approved but I bit the bullet and called today- rep said your app was approved.

 

Cap One letter just came, denail reason too many inquiries. Should I call and see if I can change that to a yes, and hopefully a lower rate?

***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
Message 15 of 28
Valued Contributor

Re: Trying to get first auto loan

Cap One is hard to recon and I doubt you will get a lower rate from them. You can try but they are not very forgiving on recons from what I heard on this forum from others. Many had to send emails to the executive office to get them to budge. I would press forward with your approval unless you want to put time and energy into Cap One.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 16 of 28
Regular Contributor

Re: Trying to get first auto loan

Not really. I am just so happy that I  did not get stuck with Roadloans. I am just soooooooooo happy with the MCU approval. But really want/need a rate at or under 10%

***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
Message 17 of 28
Regular Contributor

Re: Trying to get first auto loan

Hi everbody.

 

I am just updating hanging on to loan. I just found out I have to come up with 20 down, I had 10 so I gotta find the other 10. I am also thinking about waitng until pres. day sales to see if I'll get a better deal. I decided on 2010-12 CR-V, but dont want to spend more 18-20, (20 is like if I fall in love with car and everything about it). I also know that car dealers tend to be less aggressive & willing during tax season.

 

What do you guys think?

 

Thanks so much for your help.

***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
Message 18 of 28
Highlighted
Valued Contributor

Re: Trying to get first auto loan

Wow! That is a lot down for a car! Is the credit union requesting that or a dealership? I'm not sure if MCU is a dealer bank or a credit union.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 19 of 28
Regular Contributor

Re: Trying to get first auto loan.. .Update

Hey, I wanted to thank all you that shared your input. Bought my car today,  approved by Honda financial for 100% financing, @ 11.09 %. They beat the rate the credit union was offering, and it includes gap insurance.  

 

2010 Cr-v ex. Super siked!!!!   Smiley HappySmiley Very Happy

***Nothing Beats a try but a Fail*** I refuse to fail, success is the only option.
Message 20 of 28