Volvo Financial Services

[thisisjustbusiness]

Hi All! Ordered the latest XC90 last year and was informed my delivery date will be next month. Contemplating going through Volvo's financial services for my auto loan. Was wondering if anyone had any tips or experiences with dealing with them? Who did they pull? They did offer good rates. This will be the second auto loan I've ever had. My last car, which was my first car, I purchased brand new and was able to grab 2.9%. I knew nothing of credit then. So I consider that a lucky break. That was many moons ago. So I have no idea if the auto market is the same or much more hardcore....Any advise is truly appreciated.

[sam818]

Did you get any feedback about Volvo Car Financial Services?

Which bureau did they pull? Which score ie AUTO 8?
Did they pull more than one, and did you see any subsequent inquiries where Volvo shopped it?

[thisisjustbusiness]

I actually was just notified that it arrived and I had already traveled for work. Will be back mid-August to get it, so will update then. I was able to get the VIN so I could quote my insurance prior. 

[sam818]

Any update on Volvo financial....which bureau, which score, which version etc?

[thisisjustbusiness]

Got the Volvo today!!!!!!!!!!!! Woohoo!!!!!!!!!!!! Best purchase ever! Now that I've gotten that out of the way.....Volvo only pulled Transunion. They used the regular FICO 8 version, not the auto specific. Although I was approved with Volvo finance 5.9%, I ended up going with PNC that offered 3.8. And that was with a 699. My Ex and EQ are drastically higher than TU, and even higher with the auto FICOs. All in all, I'm happy with my rate. Apparently I could've gotten a better rate with Volvo but my credit history is light. I pay on time and full but I don't have large amounts of credit. This purchase should give me the boost I need. I also would note that I'm in IL. Here, everybody uses TU for practically everything. Depending on your state, they may go for EQ more, or EX. When I got my 1st car, they pulled all 3, but they were heavy on my TU score looking good. Good luck to you. Let me know how it goes for you. 

[sam818]

It's interesting that Volvo only pulled TU. for me they only pulled EX. I'm not sure if it was Auto8 or regular. What was your regular Fico 8 with TU?
Did the dealer shop you around to other lenders including PNC?
And how's the XC90?