Member
Chukp
Posts: 6
Registered: ‎12-22-2008
Re: Auto Loan Approvals!
APPROVING BANK: Coastal Federal Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: 650ish Auto Enhanced
CUSTOMER STATE OF RESIDENCE: NC
NEW/USED: Used
YEAR OF VEHICLE: 2009
MAKE: Ford
MODEL: Fusion
MILEAGE: 10,300
RETAIL/LEASE: Retail
AMOUNT OF LOAN:25,000 (Rounded this up from 24 something)
TERM CONTRACTED: 72 Months
APR/LEASE RATE: 13.00%
MONTHLY PAYMENT: 494
Comments:  Was upside down on a crappy Jeep Cherokee I bought 6 months ago when I couldnt get a loan for much.  After that purchase, I got a judgement removed from my record, several collections and some late payments, and while its not perfect It was enough to get financed with just $400 down.  The dealership rolled my negative equity into the price of the Fusion which is what made the price a little higher than it should have been.  Also have very little credit but a handful of subprime credit cards that I have been diligent to pay on time over the last year and a half.  My credit ratio was at around 65% when I got approved too.  Honestly was not expecting things to go so well... The deal was done in what must have been record time.  
 
Also wanted to thank everyone who contributes to this board.  You have all really helped me to get a perspective on where I stand and that reaching my credit goals can be achieved with just a little diligence and dedication. 
New Member
simplycsc
Posts: 3
Registered: ‎02-08-2009
Re: Auto Loan Approvals!
APPROVING BANK: Hyundai(Southside Bank of Virgina)
BUREAU PULLED:  Transunion
CREDIT SCORE:790
CUSTOMER STATE OF RESIDENCE:VA
NEW/USED:NEW
YEAR OF VEHICLE:Hyundai
MAKE:smileyfrustrated:anta FE
MODEL:2008
MILEAGE:213
RETAIL/LEASE:Retail
AMOUNT OF LOAN: $15000
TERM CONTRACTED:48
APR/LEASE RATE:4.8
MONTHLY PAYMENT:330
MISCELLANEOUS COMMENTARY:  Put down a significant amount, but the best thing to do is find the lowest rate at an outside bank and challenge the dealer to do better.  They make money off the interest rate, so they can often beat the outside banks.  This makes everything convenient for you.  It made my purchasing process very easy.
Established Member
detdime83
Posts: 13
Registered: ‎09-10-2007
Re: Auto Loan Approvals!
APPROVING BANK: BMW Financial
BUREAU PULLED: EQ
CREDIT SCORE: 623
CUSTOMER STATE OF RESIDENCE: Florida
NEW/USED: NEW
YEAR OF VEHICLE: 2009
MAKE: BMW
MODEL: 3281
MILEAGE: 16
RETAIL/LEASE: Lease
AMOUNT OF LOAN:
TERM CONTRACTED: 36 months/36000 miles
APR/LEASE RATE:
MONTHLY PAYMENT: 356
MISCELLANEOUS COMMENTARY: 4k down.  End of the month crunch paid off for me!

Starting Score: 493
Current Score: 493
Goal Score: 650


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New Member
torsades
Posts: 2
Registered: ‎01-04-2009
Re: Auto Loan Approvals!
APPROVING BANK: Ford motor corp
BUREAU PULLED: Experian, Transunion
CREDIT SCORE: 686
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: NEW
YEAR OF VEHICLE: 2009
MAKE: Ford
MODEL: Focus
MILEAGE: 10,300
RETAIL/LEASE: Retail
AMOUNT OF LOAN:21,00
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 12%
MONTHLY PAYMENT: 360
Comments: young credit history, 7mths 1st credit card limit 5000, macy's account, annual salary 48500, work in health care
New Member
torsades
Posts: 2
Registered: ‎01-04-2009
Re: Auto Loan Approvals!
oh mileage was 46
Valued Member
mzniko
Posts: 25
Registered: ‎03-30-2008
Re: Auto Loan Approvals!
APPROVING BANK: RoadLoans/Drive Financial
BUREAU PULLED: Experian
CREDIT SCORE: 610
CUSTOMER STATE OF RESIDENCE:IL
NEW/USED: USED
YEAR OF VEHICLE: 2004
MAKE:BMW
MODEL:745LI
MILEAGE: 61000
RETAIL/LEASE: Retail
AMOUNT OF LOAN:22,000
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 17%
MONTHLY PAYMENT:501
Comments: Yeah the interest rate sucks but once I can get better scores, I will refi with a another company. They wanted 26000 for the car. Oh and plus this car has the extended warranty on it. Truly a blessing for me!:smileyvery-happy:

Starting Score-(1/10/10):TU 558 EQ 628
Current Score-(11/01/11): TU 660 EQ 666 EX 640 All Lender Pulled
Goal Score-----(9/10/10): TU 700 EQ 750
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New Visitor
Photog
Posts: 1
Registered: ‎03-05-2009
Re: Auto Loan Approvals!
APPROVING BANK: Dort Federal Credit Union
BUREAU PULLED:Equifax
CREDIT SCORE:671
CUSTOMER STATE OF RESIDENCE:Michigan
NEW/USED:Used
YEAR OF VEHICLE:2006
MAKE:Audi
MODEL:A6
MILEAGE:36093
RETAIL/LEASE:Retail
AMOUNT OF LOAN:20249
TERM CONTRACTED:62
APR/LEASE RATE:6.7
MONTHLY PAYMENT:390
MISCELLANEOUS COMMENTARY: The total was 22,516(plus title and tax)  Down payment of 2,267
New Contributor
kbella
Posts: 63
Registered: ‎11-17-2008
Re: Auto Loan Approvals!
APPROVING BANK: Wachovia
BUREAU PULLED:  Transunion I think
CREDIT SCORE:
CUSTOMER STATE OF RESIDENCE: Illinois
NEW/USED: New
YEAR OF VEHICLE:2008
MAKE:Kia
MODEL:smileyfrustrated:edona
MILEAGE:20
RETAIL/LEASE:Retail
AMOUNT OF LOAN:23000
TERM CONTRACTED:72
APR/LEASE RATE:11.99
MONTHLY PAYMENT:  451
MISCELLANEOUS COMMENTARY  Expected higher rate.  Although first received a rate of 19.75% at the credit union through my husband's work.  Said forget that and went to Kia who was able to get this loan, although a few banks like Harris turned us down and Wachovia ultimately approved.  Kia had a 5,000 rebate so that helped.  Our scores are a little better than they were in January due to incorrect collections, but our DTI is still higher than it should be.  We're also on our second year with CCCS (which I'm happy with).  Hope to refi this in a year for a shorter term and better rate. 
TU-579 EX-551 EQ-562 as of 1/14/09 (ouch)
KVS
New Visitor
KVS
Posts: 2
Registered: ‎03-07-2009
Re: Auto Loan Approvals!
[ Edited ]
APPROVING BANK: Eastman Credit Union
BUREAU PULLED:  All 3, I believe
CREDIT SCORE: TU 615, EX 640, EQ 677 (non auto enhanced)
CUSTOMER STATE OF RESIDENCE: Tennessee
NEW/USED: Used
YEAR OF VEHICLE:2008
MAKE: Pontiac 
MODEL: Vibe
MILEAGE: 24000
RETAIL/LEASE:Retail
AMOUNT OF LOAN: 14,119 (includes taxes, title, etc)
TERM CONTRACTED: 60
APR/LEASE RATE: 6.29
MONTHLY PAYMENT:  275
MISCELLANEOUS COMMENTARY I had a Chapter 7 Bankruptcy in June of 2007. Reaffirmed my car and finished paying it off. No bad marks on my CR since BK. 3 open CCs (longer than 1 year), 2 with no balances, 1 with a low balance and all with perfect payment records. Still, I was scared that I wouldn't get approved because of the Bankruptcy. I applied online with Cap One Auto and was shocked when I was approved for up to $18k at 6.91%. Then I did some checking online and saw that some folks have had awful times with Cap One and that convinced me to check with my credit union. My checking account had been there for over 2 years in good standing. I was prepared to go with ECU even if they offered a higher rate than Cap One. I was very happy when they returned a rate even lower than Cap One. Dealing with local folks, to me personally, is so much better than having to wait forever to get customer service on the phone. My last car loan (4 years prior to bankruptcy) was at 21% APR. There is life after bankruptcy!
Message Edited by KVS on 03-07-2009 12:16 PM
New Visitor
aQTinTX
Posts: 2
Registered: ‎02-21-2009
Re: Auto Loan Approvals!
Let me start off by saying that I have horried credit, and I am trying to shovel my way out.  I needed a new car, so I decided to bite the bullet and get one financed to help me.  
 
 
APPROVING BANK: drive financial
BUREAU PULLED: TU
CREDIT SCORE: 542
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: used
YEAR OF VEHICLE: 2005
MAKE: Chry
MODEL: PT Crusier
MILEAGE:  18660 (really!!!)
RETAIL/LEASE:  Retail
AMOUNT OF LOAN: 9680
TERM CONTRACTED: 60
APR/LEASE RATE: 21.5% (OUCH!!)
MONTHLY PAYMENT: 262.00