topic Re: Will I get approved for $130k auto loan? in Auto Loans

Will I get approved for $130k auto loan?

Nan425 — Thu, 09 Oct 2025 01:32:17 GMT

I am planning to purchase a $270k G3 mercedes but am not sure if I can get approved. Which lender will approve a loan this size with this profile? Below are my stats:

Annual income: $160k plus $48k bonus

Student loan: $350

Mortgage: $2400

Negatives: I have 4 charge offs from 2019 that will fall off Jan 2026. Ex and Tu have removed a few early.

No credit card debts. But have 6 credit cards with about $110k revolving available credit.

Re: Will I get approved for $130k auto loan?

FicoMike0 — Thu, 09 Oct 2025 03:49:29 GMT

What are your scores?

Your dti looks ok, at least before the car loan. If your putting $140000 down on a $270000 car, id think you have a good chance, depending on scores.

Ive never had a car payment bigger than my mortgage, makes my head spin.

Looks like a good vehicle to take on safari.

Re: Will I get approved for $130k auto loan?

Lykasigh — Thu, 09 Oct 2025 06:16:33 GMT

Based on the information you provided, it does seem attainable to get approval for a $130k auto loan; however, there are some considerations. Your annual income of $160k plus a bonus of $48k is strong, helping to keep your debt-to-income ratio (DTI) within range; lenders generally scrutinize this. The $2,400 mortgage and $350 student loan payments are reasonable given your income.

You have no credit card debt and have also been offered $110k in available credit. This is a positive indicator (low credit utilization). The 4 charge-offs from 2019 could be a red flag; however, the fact that some have already fallen off helps. In terms of your overall creditworthiness, lenders will be somewhat flexible if you have a good credit score.

Consider looking into major banks (Chase, Wells Fargo) or local lenders who are willing to make loans of this size. Interest rates will likely be higher, but you should get approval, especially if your credit score is strong. Just make sure you are comfortable with the terms and/or rates of the loan.

Good luck with your purchase!

Re: Will I get approved for $130k auto loan?

GZG — Thu, 09 Oct 2025 15:13:29 GMT

@Nan425 wrote:
I am planning to purchase a $270k G3 mercedes but am not sure if I can get approved. Which lender will approve a loan this size with this profile? Below are my stats:

Annual income: $160k plus $48k bonus
Student loan: $350
Mortgage: $2400
Negatives: I have 4 charge offs from 2019 that will fall off Jan 2026. Ex and Tu have removed a few early.
No credit card debts. But have 6 credit cards with about $110k revolving available credit.

what is your auto loan history on your report?

Re: Will I get approved for $130k auto loan?

FicoMike0 — Thu, 09 Oct 2025 15:19:25 GMT

I would be looking to Benz for financing. They clearly are motivated to make the loan.

Re: Will I get approved for $130k auto loan?

Nan425 — Sat, 18 Oct 2025 18:36:34 GMT

My scores are:

TU: Fico 776

EX: Fico 740, Vantage 810

EQ: Fico 765, Vantage 810

I had one $65k car loan paid in full 5 years ago.

Re: Will I get approved for $130k auto loan?

LINYGirl — Sat, 25 Oct 2025 01:55:11 GMT

OP we're in similar scenarios. I was going to make a thread asking if anyone has had a DCU auto loan over $100K. I'm considering a new G as well. I bought my last G550 in 2018 and $65K loan was paid in full. At the time I used Sperry FCU & shortly after they were acquired by PenFed. I would try DCU. I've read on the forum that they have no lending limit on auto loans and are an overall great CU. I called today and a loan rep confirmed they they don't have a lending limit on auto loans but over $100K requires additional review. I asked if there were any specific criteria they disclosed for explained DTI less than 10% and a certain credit score and she said it's at underwriting discretion based on their confidential guidelines.

Re: Will I get approved for $130k auto loan?

Creditplz — Tue, 28 Oct 2025 21:13:28 GMT

Do you have comparable auto loans? If you don't have something similar on payment, I can see this getting denied by the captive lender (MBFS), probably picked up by another lender the dealer works with, based on the down payment.

Re: Will I get approved for $130k auto loan?

cashorcharge — Thu, 30 Oct 2025 21:04:52 GMT

@Creditplz wrote:
Do you have comparable auto loans? If you don't have something similar on payment, I can see this getting denied by the captive lender (MBFS), probably picked up by another lender the dealer works with, based on the down payment.

I was thinking the same thing @Creditplz

Yes the dealer is motivated....but not sure how much MBFS would be without comparable auto loan balance history behind you.

It's been a bit since the OP posted. Keep us updated...Thanks

Re: Will I get approved for $130k auto loan?

Nan425 — Thu, 30 Oct 2025 22:28:51 GMT

The last auto loan I had was $65k paid in full several years ago.

Re: Will I get approved for $130k auto loan?

cashorcharge — Fri, 31 Oct 2025 18:56:50 GMT

@Nan425 wrote:
The last auto loan I had was $65k paid in full several years ago.

I take it that the since your looking at a $270K G63 and looking for a $130K loan....you are going to lease?

MBFS has different levels of approval and tiers and you are not Tier 1 or above, you are likely Tier 2. I doubt you are putting $140K down as that would be pretty silly.

No crystal ball here but it doesn't look good. Your income, scores, credit history and what I am calculating in my head for the payment to be....purchase or lease....based on your credit....you don't make enough income or have the credit to justify. Good luck if you proceed.

Re: Will I get approved for $130k auto loan?

Nan425 — Fri, 31 Oct 2025 20:59:39 GMT

Thank you for your comments. I will be purchasing a $270k G and will put $140k down. I can put down more if it helps MBFS or another lender approve with favorable interest rate. My TU is pretty clean with 810 Fico because all the negatives fell off. If I can find a lender that pulls TU and can finance around $130k, that could help.

Re: Will I get approved for $130k auto loan?

cashorcharge — Mon, 03 Nov 2025 21:21:44 GMT

@Nan425 wrote:
Thank you for your comments. I will be purchasing a $270k G and will put $140k down. I can put down more if it helps MBFS or another lender approve with favorable interest rate. My TU is pretty clean with 810 Fico because all the negatives fell off. If I can find a lender that pulls TU and can finance around $130k, that could help.

Thanks for the added context. I'll start by asking....are you a member of any credit unions? Right now, the MBFS rate....even if you did qualify for Tier 1 or 2 are not necessarily favorable even with that much down. That being said...with that size of a down payment, you would be better served to find a credit union that would have a more favorable rate to finance the balance.

Typically, exclusive CU's have the best rates....these are ones that are membership based on specific eligibility rules....NFCU...(Veteran or Military Affiliation through you or family) or location specific...a local area that requires residency in your given area. There are national CU's that you could join such as PenFed that are runners up behind specific CU's with decent rates. Most CU's also max out auto loans are either $100K or $150K so be sure to ask that question before committing or joining to make sure their maximum loan value fits your needs.

Re: Will I get approved for $130k auto loan?

Nan425 — Mon, 03 Nov 2025 21:28:49 GMT

I am not a member of a credit union. I will def reach out to a few credit unions when shopping for rates. Thank you for the suggestions. I will give an update end of this year on how this goes.

Re: Will I get approved for $130k auto loan?

Nan425 — Wed, 17 Dec 2025 00:54:38 GMT

I completed my purchase of a G-Wagon at Mercedes Benz dealership recently. I applied with Penfed which approved me for $100k at 4.11% (Pulled TU with 779); Mercedez Benz Financial Services (Pulled EX with 838) and didn't provide any pre-approval but the lowest rate was 7.5%; and I applied with Chase on their app and was approved for $125k at 5.4% (no credit pull but the App show my FICO EX score as 828). I went with Chase and did not have to provide any proof of income. It was a sesmless process since I came prepared with Chase approval in hand.

Re: Will I get approved for $130k auto loan?

Patient957 — Wed, 17 Dec 2025 01:01:58 GMT

Pic?

Oh, and congrats!

Re: Will I get approved for $130k auto loan?

cashorcharge — Fri, 19 Dec 2025 22:53:03 GMT

@Nan425 wrote:
I completed my purchase of a G-Wagon at Mercedes Benz dealership recently. I applied with Penfed which approved me for $100k at 4.11% (Pulled TU with 779); Mercedez Benz Financial Services (Pulled EX with 838) and didn't provide any pre-approval but the lowest rate was 7.5%; and I applied with Chase on their app and was approved for $125k at 5.4% (no credit pull but the App show my FICO EX score as 828). I went with Chase and did not have to provide any proof of income. It was a sesmless process since I came prepared with Chase approval in hand.

Congratulations @Nan425 on your approval and glad you explored other avenues besides MBFS!! You saved a lot of money there

Re: Will I get approved for $130k auto loan?

CreditCuriosity — Fri, 19 Dec 2025 22:55:05 GMT

@cashorcharge wrote:
@Nan425 wrote:
I completed my purchase of a G-Wagon at Mercedes Benz dealership recently. I applied with Penfed which approved me for $100k at 4.11% (Pulled TU with 779); Mercedez Benz Financial Services (Pulled EX with 838) and didn't provide any pre-approval but the lowest rate was 7.5%; and I applied with Chase on their app and was approved for $125k at 5.4% (no credit pull but the App show my FICO EX score as 828). I went with Chase and did not have to provide any proof of income. It was a sesmless process since I came prepared with Chase approval in hand.
Congratulations @Nan425 on your approval and glad you explore other avenues besides MBFS!! You saved a lot of money there

Agreed MBFS seems like they don't want to write loans with the rates they are handing out or think people are just dumb with their $. I really don't understand MBFS even writting at 6% they would be making $ on finance and also on the car and not insulting people with super prime credit. Granted they write some loans at 2.99 - 4.99 or whatever but for non-amg cars, etc.