New Contributor
zan987
Posts: 55
Registered: ‎09-27-2011
Re: Auto Loan Approvals!
[ Edited ]

@ HSTV.....Did you put any $$ down?

Regular Contributor
xthatgamerguyx
Posts: 118
Registered: ‎07-22-2012
Re: Auto Loan Approvals!

HSTV wrote:
APPROVING BANK: Wells Fargo Dealer Services
BUREAU PULLED: TransUnion
CREDIT SCORE: 555
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: USED
YEAR OF VEHICLE: 2011
MAKE: LEXUS
MODEL: IS250
MILEAGE: 20,000
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 27,700 
TERM CONTRACTED: 72
APR/LEASE RATE: 8.79%
MONTHLY PAYMENT: $497
ANNUAL INCOME: $72,000
MISCELLANEOUS COMMENTARY: I had a BK discharged 7 months ago.  I tried Lexus financial, but they would only approve 20K at 17%, even though I am repeat customer. Went to Carmax, 3 lenders were 15% + , but Wells came in at 8.79%.  So I drove off with a payment under $500.  In contrast, 5 years ago with tier 1, through Toyota Financial I had a 5.9% on a camry.  So can't complain.
 
 
Pre-BK TU: 690
BK discharged: Feb 2012
Current: TU: 555

 


Wow. Congrats. I have the same income, TU: 621, EQ:600, AND EX: 589 with one baddie on my report and can't get an approval from WFDS, even with a large downpayment.

Not to mention I work for them in techcology.

 

Congrats nonetheless! :smileyhappy:

February 2012: 480 across the board (before I found this site and started working on my scores)
-------------------------------------------------------------------------------
Starting Scores: TU FAKO: 543 (06/16/2012) EX FAKO: 547 (06/16/2012) EQ FAKO: 528 (06/16/2012)
Current Scores:TU FICO: 639 (11/20/2012) EQ FICO: 617 (11/20/2012)
TU FAKO: 606 (8/30/2012) EX FAKO: 574 (09/04/2012) EQ FAKO: 564 (09/30/2012)
New Contributor
ds3
Posts: 76
Registered: ‎10-02-2012
Re: Auto Loan Approvals!

ds3 wrote:

ds3 wrote:
APPROVING BANK: VW
Bureau Pulled: Experian CREDIT SCORE: 675 Auto V8
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Volkswagen
MODEL: Passat TDI SEL Premium
MILEAGE: 15
RETAIL/LEASE: Retail AMOUNT OF LOAN: $34300
TERM CONTRACTED: 60 months
APR/LEASE RATE: 10.19% MONTHLY PAYMENT: $744
ANNUAL INCOME: $93k

Update...my CU came in at 8.99. New pmnt of $665.


Update 2: Dealer came back with 7.9 and threw in a bunch of extras for $654 monthly. I went from a first offer of 20.99 at a different dealer to 7.9 in 2 days. The lesson I learned is shop around, which I have never done before.

Established Member
amazingluv43
Posts: 11
Registered: ‎09-21-2012
Re: Auto Loan Approvals!
APPROVING BANK: Ford Credit
BUREAU PULLED:Experian
CREDIT SCORE:621-Auto inhanced, EQ599 - pulled by Credit Union
CUSTOMER STATE OF RESIDENCE:GA
NEW/USED:New
YEAR OF VEHICLE: 2013
MAKE: Ford
MODEL: Fusion
MILEAGE: 39
RETAIL/LEASE: 25,465.24
AMOUNT OF LOAN: 19,000.00
TERM CONTRACTED:72 mths
APR/LEASE RATE: 8.99
MONTHLY PAYMENT: 355
ANNUAL INCOME: 35,000
MISCELLANEOUS COMMENTARY: First of all let me say this is my first time posting to this forum. I've been coming to the site for a few weeks now and have learned a lot of information and is working on rebuilding my credit. My credit union quoted a 12.2% interest rate. I told the dealer i already had my financing in place and  my rate was 9.6% (yes I fibbed a little... lol). He asked if he could pull my credit to see if he could get me a better rate. After I ranted for about 30 mins about how I didn't want them to do that and end up with a bunch of inquires on my credit report, they assured me that they would only send it out to 2 banks and if it did not look like they could match or beat my rate, i could go with my financing I had in place.  Well to my surprise Ford Credit approved my loan for 8.99% and I got close to the full value for my trade in. THANK GOD FOR THIS FORUM!!!



Starting Score: 580
Current Score: EQ 669 Lender pulled
Goal Score: 700

Contributor
drboxing
Posts: 88
Registered: ‎09-19-2012
Re: Auto Loan Approvals!
Congrats in your new car, these forums are a great help.

Starting Score: TU 614 EX584
Current Score: TU 650/EX 650 (Walmart)
Goal Score: 710


Take the FICO Fitness Challenge
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
Re: Auto Loan Approvals!

Congrats

Established Contributor
logan_720
Posts: 608
Registered: ‎02-02-2012
Re: Auto Loan Approvals!
APPROVING BANK: Hapo Community Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: 681?
CUSTOMER STATE OF RESIDENCE: Washington State
NEW/USED: Used
YEAR OF VEHICLE: 2012
MAKE: Ford 
MODEL: Focus SEL :smileyhappy:
MILEAGE: 30,000
RETAIL/LEASE: Retail - it has high miles as it was a rental car
AMOUNT OF LOAN:$13,000
TERM CONTRACTED: 72 mos
APR/LEASE RATE: 3%, unless the dealer will beat it.
MONTHLY PAYMENT: Roughly $200 with trade in
ANNUAL INCOME: 23000
MISCELLANEOUS COMMENTARY: Went car shopping a few weeks back, had financing secured at 7% with my CU, but the dealer did it. Anyway, they dealer, (Legacy Ford of Pasco WA) wouldn't budge on the price. So I negotiated that they bring the rate down. The CU approved it at 3%, payment was still too high for what I wanted so I left it. Went back to CU yesterday, and they apologized for denying me a loan in early August, said that some underwriters are more lenient based of past experiences. She made one call, and it was approved over the phone. No need for another hard pull. The vehicle above is what I am considering, at another dealer, due to a huge amount of unprofessionally  from the dealer mentioned above, but may not buy right away.
Visitor
FNJ91011
Posts: 1
Registered: ‎10-12-2012
Re: Auto Loan Approvals!
APPROVING BANK: WELLS FARGO
BUREAU PULLED: EQUIFAX
CREDIT SCORE: EQUIFAX: 623, EXPERIAN: 636, TRANS: 630 
CUSTOMER STATE OF RESIDENCE: GEORGIA
NEW/USED: USED (BARELY) :smileywink:
YEAR OF VEHICLE: 2009
MAKE: HONDA
MODEL: ACCORD EX 2 DOOR COUPE
MILEAGE: 24,XXX
RETAIL/LEASE: PURCHASE
AMOUNT OF LOAN: $15,500
TERM CONTRACTED: 72 MONTHS
APR/LEASE RATE: 7%
MONTHLY PAYMENT: $275 PER MONTH
ANNUAL INCOME: $38K
MISCELLANEOUS COMMENTARY: WHEN I WAS SHOPPING AROUND FOR A LOAN I FIRST WENT TO USAA AND THEY OFFERED ME A 8.49% APR, WITH MY SHORT CREDIT HISTORY I THOUGHT THAT WAS GOOD ENOUGH. WHEN I GOT TO THE DEALER I WAS TOLD THAT THEY COULD PROBABLY BEAT WHAT USAA WAS OFFERING, SO I THOUGHT IT WON'T HURT TO TRY AND LONG BEHOLD WELLS FARGO DROPPED THE APR BY 1.49%, IM HAPPY WITH WHAT I GOT AND I'LL TRY REFINANCING IN ABOUT A YEAR OR SO. I'D LIKE TO SEE IF I COULD GET IT DOWN TO AROUND 3 - 4% IN A YEAR...WE'LL SEE!!!!!!
New Member
mrjosh
Posts: 1
Registered: ‎02-29-2012
Re: Auto Loan Approvals!
APPROVING BANK: Capital One Auto Finance
BUREAU PULLED: Experian
CREDIT SCORE: 658
CUSTOMER STATE OF RESIDENCE: Nevada
NEW/USED: New
YEAR OF VEHICLE: 2013
MAKE: Jeep
MODEL: Wrangler Unlimited Sport
MILEAGE: 32
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $33,128
TERM CONTRACTED: 72 mo
APR/LEASE RATE: 2.84%
MONTHLY PAYMENT: 500.98
ANNUAL INCOME: $45k

MISCELLANEOUS COMMENTARY: First post on the forums. I have been waiting a little over a year to purchase a Jeep. I was trying to get my credit score up and my debt paid down. I was shocked to see that Capital One gave me 2.84%. My CU denied me (credit utilization at 43%, but on track to be at 0% by May '13) and the dealer could only offer 5.99%. Dealer pulled Experian Auto Enhanced, which was 737. The dealer also tried to rip me off by telling me the Jeep was out of state and I needed to pay $400 to ship it in. Needless to say I googled the VIN and found out the Jeep was in the state, but at another dealer. They were quick to apologize and not charge the shipping fee (although I should have listened to my brother in the first place and told them I shouldn't have to pay for shipping). All in all MSRP was $32,210. Invoice $30,879. TrueCar $30,604. I paid $33,128 with taxes, fees, and $1,012 down (to ensure the loan was within 110% LTV and pay for GAP coverage). I think I got a great deal. Thanks to all who contribute to the forums. This sure gave me a wealth of information beforehand.
EQ 664
TU 694
EX 658
New Contributor
zan987
Posts: 55
Registered: ‎09-27-2011
Re: Auto Loan Approvals!
[ Edited ]
 
 
APPROVING BANK: Charlotte Metro Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: 675
CUSTOMER STATE OF RESIDENCE: NC
NEW/USED: Used
YEAR OF VEHICLE: 2011
MAKE: Infiniti
MODEL:G37x
MILEAGE:34,100
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $25,000
TERM CONTRACTED: 72
APR/LEASE RATE: 1.9%
MONTHLY PAYMENT: $363.00
ANNUAL INCOME: $90,000
MISCELLANEOUS COMMENTARY: I have been eyeing this vehicle for over an year. I worked hard to get my score up so I could get the best rate possible.  I have a wonderful banker at the CU.  She called to tell me about the 1.9% rate special they had for Oct.  It took her 10 mins to get me approved.  It took me 2 weeks to find the car I wanted.  I had to fly KY to pick it up last night.  itvwas a 5 hour driver back to my city And today I am a Happy Woman.  Nothing like seeing the fruit of all my hard work.  I want to thank everyone who contribute to this forumn, for your guidance and support.