topic Pulled the trigger and apped in Auto Loans

Pulled the trigger and apped

BGinVA — Wed, 07 Mar 2012 15:21:30 GMT

My new car is built, has a vin number and is awaiting transport to the dealer. Things moved a lot faster than I thought they would and I didn't have quite enough time to hit the 660's I wanted before apping, but I'm keeping my fingers crossed that the dealer comes back with a good rate. I decided to let him shop it first and if I don't like the deal he offers I stil have time to shop it on my own.

Re: Pulled the trigger and apped

pizzadude — Wed, 07 Mar 2012 15:32:54 GMT

@BGinVA wrote:
My new car is built, has a vin number and is awaiting transport to the dealer. Things moved a lot faster than I thought they would and I didn't have quite enough time to hit the 660's I wanted before apping, but I'm keeping my fingers crossed that the dealer comes back with a good rate. I decided to let him shop it first and if I don't like the deal he offers I stil have time to shop it on my own.

Good luck !! so what car did you go with ?

Re: Pulled the trigger and apped

BGinVA — Wed, 07 Mar 2012 16:06:26 GMT

Its a 2012 Chevy Traverse AWD 1LT in Twilight Blue Metallic with tow package, sunroof, rear vision camera, heated front seats plus all the bells and whistles that are standard on that model.

Re: Pulled the trigger and apped

pizzadude — Wed, 07 Mar 2012 16:55:01 GMT

Sounds really nice ! Hopefully the dealer can get you a good rate ~ have you started looking around at local CU or banks for financing also ?

Re: Pulled the trigger and apped

BGinVA — Wed, 07 Mar 2012 17:03:12 GMT

I thought I'd see what the dealer comes back with first, as I THINK my Auto enhanced FICO may be higher than my regular having two paid auto loans in good standing still reporting on my cr, so I'm going to wait to see what he throws at me, since I'm not sitting in the dealership having to make a quick decision, I have a pretty good idea where I want to see it land, lol.

Re: Pulled the trigger and apped

pizzadude — Wed, 07 Mar 2012 17:17:57 GMT

Nothing wrong with that approach ~ I would expect a good rate from the dealer, especially since you have good auto history.

Re: Pulled the trigger and apped

BGinVA — Wed, 07 Mar 2012 17:27:01 GMT

I decided to buy an updated FICO today so I could see exactly what the lenders are looking and low and behold I HIT 660 EXACTLY on my Equifax today!!!!! So far this morning my cr has taken 4 inquirie hits, The dealer, Suntrust, Bank of America (I pray they aren't my only option) & Union 1 (which I've never heard of).

Re: Pulled the trigger and apped

pizzadude — Wed, 07 Mar 2012 17:48:00 GMT

Cool ! That's great, congrats on the score bump !

Re: Pulled the trigger and apped

BGinVA — Thu, 08 Mar 2012 01:26:37 GMT

Well my salesman called tonight to let me know that my loan has been approved "with a major bank at a top tier rate". He didn't have any other information and said I'd have to get that from the F&I guy, here's hoping his "top" tier rate is comparable to what I have in mind.

Re: Pulled the trigger and apped

pizzadude — Thu, 08 Mar 2012 02:01:53 GMT

@BGinVA wrote:
Well my salesman called tonight to let me know that my loan has been approved "with a major bank at a top tier rate". He didn't have any other information and said I'd have to get that from the F&I guy, here's hoping his "top" tier rate is comparable to what I have in mind.

Cool ! That sounds promising ~ just remember that the interest rate & terms are somewhat negotiable as well, so don't necessarily jump at their first offer....

Re: Pulled the trigger and apped

MsTucker09 — Thu, 08 Mar 2012 02:15:11 GMT

thats great, congrats

Re: Pulled the trigger and apped

BGinVA — Thu, 08 Mar 2012 17:02:40 GMT

Okay, so here's an update. I called the finance department at the dealership to find out what was going on. I talked to a really rude finance guy name John (by the way I love my salesman Josh), he couldn't answer any questions I asked of him, he was evasive, refused to tell me what my auto enhanced FICO score was, refused to tell me who approved me (but he could tell me who denied me) and then said I had to come in to go over the numbers. I got the impression he either didn't have a true approval yet or was padding the number when the best indication he would give me was mid 5%'s. So I said screw it, and went ahead and did 2 of my own apps. First one to Chase, said I'd get an answer within 24 hours. Second one Capital One blank check, got an immediate approval for up to $37,200 for 72 months at 3.61%, whooohoooo!!!!!! My dealer is in the network, I don't have to fax in any documentation (but the dealer has to fax a few things) and my check is already activated and will arrive tomorrow. So I called my salesman Josh back up and told him he can tell John to kiss my butt basically, lol. He apologized for John's rudeness and assured me that they have no problem working with Capital One blank check, and said he'd call me in the morining and let me know where my vehicle is on the transport (its been shipped).

Re: Pulled the trigger and apped

Anonymous — Thu, 08 Mar 2012 17:05:43 GMT

Josh probably chewed John out right after the call.

Re: Pulled the trigger and apped

phrza81 — Thu, 08 Mar 2012 17:47:26 GMT

Re: Pulled the trigger and apped

BGinVA — Thu, 08 Mar 2012 23:16:05 GMT

As another follow up, I received an e-mail from Chase within the last few hours that they have approved me as well at 3.96%. So far Capital One is my best deal and I plan to go with them unless something better comes along. Goes to show the value of customer service, had John not been a rude jerk, I may have been willing to accect his mid 5% rate, however his rudeness inspired me to apply for my own financing which beat his by 2%.

Re: Pulled the trigger and apped

pizzadude — Fri, 09 Mar 2012 04:02:01 GMT

Congrats on the approval !! Sounds like you are on the way !

Unfortunately some finance & sales people think that by not being straightforward and upfront they can string you along to make more money, but they lost a customer because of it.

Re: Pulled the trigger and apped

pizzadude — Fri, 09 Mar 2012 16:29:13 GMT

Re: Pulled the trigger and apped

Anonymous — Fri, 09 Mar 2012 16:55:13 GMT

@BGinVA wrote:
As another follow up, I received an e-mail from Chase within the last few hours that they have approved me as well at 3.96%. So far Capital One is my best deal and I plan to go with them unless something better comes along. Goes to show the value of customer service, had John not been a rude jerk, I may have been willing to accect his mid 5% rate, however his rudeness inspired me to apply for my own financing which beat his by 2%.

You might want to thank John and his rudeness then.

They saved you money.

Re: Pulled the trigger and apped

LS2982 — Sat, 10 Mar 2012 15:21:44 GMT

@pizzadude wrote:

Nothing wrong with that approach ~ I would expect a good rate from the dealer, especially since you have good auto history.