topic Re: Hyundai pulled EX and... in Auto Loans

Hyundai pulled EX and...

Creditaddict — Tue, 31 Dec 2013 04:19:14 GMT

They pulled a 632 (Auto Enhanced)

My EX Fico is a 690.

so overall, not terrible (Well I mean it is pretty terrible but I guess not as terrible as I thought it could be... I'm not moving forward with them... they didn't seem to interested to try to make a deal (maybe because I did it online) but I have dealt with the guy before and had a great experience with the dealership so was a little surprised but he said "they" don't decide rate or approval, Hyundai does... and while some of that is true I don't buy for a second that they can't make loans go through, etc. and they woudln't even tell me a tier until I did income verification and I'm contract and they said they coudln't use that... I even sent them a recent summary showing my "TOTAL PAY" for last 5 months... he said we need a paystub that has tax deductions, etc.

I wasn't nasty but I wanted to be like which part of 1099 didn't you get... I pay taxes at end of year and we are not there yet

anyway, all good

Re: Hyundai pulled EX and...

sccredit — Fri, 03 Jan 2014 18:08:50 GMT

My experience is that Hyundai Finance is difficult to deal with if your Auto-Enhanced score is under 680.

Re: Hyundai pulled EX and...

LearningMoreAboutCredit — Sun, 05 Jan 2014 03:42:48 GMT

@Creditaddict wrote:
They pulled a 632 (Auto Enhanced)
My EX Fico is a 690.

so overall, not terrible (Well I mean it is pretty terrible but I guess not as terrible as I thought it could be... I'm not moving forward with them... they didn't seem to interested to try to make a deal (maybe because I did it online) but I have dealt with the guy before and had a great experience with the dealership so was a little surprised but he said "they" don't decide rate or approval, Hyundai does... and while some of that is true I don't buy for a second that they can't make loans go through, etc. and they woudln't even tell me a tier until I did income verification and I'm contract and they said they coudln't use that... I even sent them a recent summary showing my "TOTAL PAY" for last 5 months... he said we need a paystub that has tax deductions, etc.
I wasn't nasty but I wanted to be like which part of 1099 didn't you get... I pay taxes at end of year and we are not there yet

anyway, all good

Sorry about your experience...I always llke to treat auto purchases like buying a home...with a preapproved loan from my financial institution. As you stated, "it's all good".

Re: Hyundai pulled EX and...

Anonymous — Sun, 12 Jan 2014 04:16:39 GMT

did they pull EX only?

Do you have other auto loans / leases that are still open?

Re: Hyundai pulled EX and...

Creditaddict — Sun, 12 Jan 2014 07:14:27 GMT

@Anonymous wrote:
did they pull EX only?

Do you have other auto loans / leases that are still open?

Yes EX only

no open auto now that I paid off the turned in Infiniti Lease a bit ago

Re: Hyundai pulled EX and...

maiden_girl — Tue, 14 Jan 2014 05:05:28 GMT

Thats weird. I didn't have that much trouble getting financed with Hyundai at all. My very first auto loan was with them and they only asked for 3 months of income verification. They were really helpful and nice.

Re: Hyundai pulled EX and...

Creditaddict — Tue, 14 Jan 2014 05:53:12 GMT

@maiden_girl wrote:
Thats weird. I didn't have that much trouble getting financed with Hyundai at all. My very first auto loan was with them and they only asked for 3 months of income verification. They were really helpful and nice.

I'm contract employee... that is where the issue was... I mean they wouldn't tell me a rate but they also said they wouldn't be able to use bank statements or the type of paystubs I have from my employer without tax deductions (guy was clearly a little confused how it works)

I didn't pursue further... so im not sure I would have had problems getting approved if I was a regular employee with paystubs to give them.

Re: Hyundai pulled EX and...

wHiTeSoL — Tue, 14 Jan 2014 23:10:35 GMT

I just picked up an Elantra last week and they pulled EQ. 726 Auto Enhanced where my wife had a 690 (771 fico!)

Re: Hyundai pulled EX and...

maiden_girl — Wed, 15 Jan 2014 09:12:45 GMT

@Creditaddict wrote:
@maiden_girl wrote:
Thats weird. I didn't have that much trouble getting financed with Hyundai at all. My very first auto loan was with them and they only asked for 3 months of income verification. They were really helpful and nice.
I'm contract employee... that is where the issue was... I mean they wouldn't tell me a rate but they also said they wouldn't be able to use bank statements or the type of paystubs I have from my employer without tax deductions (guy was clearly a little confused how it works)
I didn't pursue further... so im not sure I would have had problems getting approved if I was a regular employee with paystubs to give them.

I'm a contract employee as well so now I'm really confused! Lol. Maybe it was the dealership screw up and not Hyundai? I would try someone else. Certain dealerships can give car brands really bad names.

Re: Hyundai pulled EX and...

Creditaddict — Wed, 15 Jan 2014 18:21:17 GMT

@maiden_girl wrote:
@Creditaddict wrote:
@maiden_girl wrote:
Thats weird. I didn't have that much trouble getting financed with Hyundai at all. My very first auto loan was with them and they only asked for 3 months of income verification. They were really helpful and nice.
I'm contract employee... that is where the issue was... I mean they wouldn't tell me a rate but they also said they wouldn't be able to use bank statements or the type of paystubs I have from my employer without tax deductions (guy was clearly a little confused how it works)
I didn't pursue further... so im not sure I would have had problems getting approved if I was a regular employee with paystubs to give them.
I'm a contract employee as well so now I'm really confused! Lol. Maybe it was the dealership screw up and not Hyundai? I would try someone else. Certain dealerships can give car brands really bad names.

oh yes I believe it was the dealership mostly.

Re: Hyundai pulled EX and...

Anonymous — Sat, 18 Jan 2014 10:29:57 GMT

Which dealership are you shopping at?

Most dealerships will accept any sort of proof of income, including bank statements. That dealership is just screwing with you.

I have been to several hyundai dealerships when a friend of mine was shopping for hyundai. You are in SoCal too right? The one we went to is on Vermont ave in ktown, and the other is in Alhambra / Monrovia area. Can't really remember the exact location but it's called win hyundai or something along those lines... Both seemed pretty easy to work with, though they aren't willing to match true car pricing, so my friend didn't get the vehicle. She ended up getting a good deal on a lease for the Infiniti g37 so she went along with that.

In general I prefer working with the dealerships that are located in the predominantly Asian areas. They are generally more negotiable when it comes to pricing, probably because they are used to it. Do make sure you know the numbers before you go in though, else they will try to rip you off at times with frivolous add-ons especially if your non-Asian.