topic Re: Auto Loan Approvals! in Auto Loans https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/1455128#M85574 <P>First of all I just wanted to say hello! I’I've been lurking since late January 2012 and I finally feel like I have something worthwhile to Share! I started my journey back to good credit in November 2011, and I couldn't’t get a leg up to save my soul. I just couldn't’t figure out what I was doing wrong! Then in late January of 2012-I found this board and I must say THANK YOU ALL SO MUCH! It was because of all the wonderful advice I read on this board that I was able to understand credit and start fixing my credit the RIGHT way!</P><P>&nbsp;</P><P>APPROVING BANK: American Honda Finance Corp../Capital One Blank Check</P><P>BUREAU PULLED: Transunion only ( I heard many people talk about auto enhanced scores, however there was nothing enhanced about my score – it was the exact number that Transunion shows on my FICO report)</P><P>CREDIT SCORE: 599 – it was a 624, however I didn't’t know that CapOne’s secured cards didn't automatically reflect your posted payment as the available balance straight away so my statement closed showing a high balance as a result my score dropped 25 pts&nbsp;<img id="smileysad" class="emoticon emoticon-smileysad" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-sad.gif" alt="Smiley Sad" title="Smiley Sad" /></P><P>CUSTOMER STATE OF RESIDENCE: Massachusetts</P><P>NEW/USED: Used</P><P>YEAR OF VEHICLE: 2009</P><P>MAKE: Honda</P><P>MODEL: Civic</P><P>MILEAGE: 31,392</P><P>RETAIL/LEASE: Retail</P><P>AMOUNT OF LOAN: $19,455.44 / $16,848.20</P><P>TERM CONTRACTED: 60 mos. / 72 mos.</P><P>APR/LEASE RATE: 10.49%/ 17.55%</P><P>MONTHLY PAYMENT: $415 / $414.18</P><P>ANNUAL INCOME: 28k</P><P>&nbsp;</P><P>MISCELLANEOUS COMMENTARY: Okay so this is going to be kinda long, my apologies in advance: I applied for AHFC online, I was denied immediately, which was a no brainer for me I still don’t even know why I applied. So after reading numerous threads on Myfico I tried Capital One. I was approved instantly for $16,848.20, the catch was at 17.55% APR. I went to one Honda dealership who basically lied and told me I had to trade in my vehicle, and put money down to cover the negative equity, no matter what Capital One said – “No Ma’am!” I walked out. I’ve been down that road before and THAT IS HOW I ENDED UP PAYING A CAR NOTE ON A LEMON IN THE FIRST PLACE.</P><P>&nbsp;</P><P>On Monday (6/18/2012) my car decided to commit suicide on the Massachusetts turn pike! I knew then I was SOL because I live 24 miles from work, and with a 7Am start time public transportation was a no go. The problem was, I didn't have this down payment the dealership claimed I needed to have. So, I decided to go to another dealership. After talking to a Capital One rep, they were extremely knowledgeable and helpful by the way, and I was shocked because I read so many horror stories on this board as well as Credit Karma; I guess that’s AFTER you cash the check <img id="smileywink" class="emoticon emoticon-smileywink" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-wink.gif" alt="Smiley Wink" title="Smiley Wink" />. Anyway they explained that I didn't need a DP and I didn't need to do a trade. After brainstorming I decided to use my CapOne check as "leverage", well at least in my mind. We had already negotiated a price $14,200, down from $14,888. I checked the NDA and its around $16-17k depending on the condition. I told them flat out that I didn't need financing; I already had it, and under no circumstances was I going to trade in my clunker. In case anyone is wondering the negative equity would have caused me to pay a down payment, and I wasn't in the position to afford one.</P><P>&nbsp;</P><P>I just finished dumping over $2k in repairs in that 2007 Chevy Cobalt and it still crapped out on me. Did I mention it only had 64k miles on it?? Anyway… The dealer asked for a chance to beat CapOne’s APR. I obliged of course, and then I low-balled the APR. I told him 10.99% when it was really 17%. Finally the finance officer emerged from “behind the curtain” and asked to chat with me. He asked where I got my figures from because what he’s getting from CapOne is 20% APR and I have to put something down as well as trade my car in. I then explained the blank check program and told him that it had nothing to do with the dealership’s financing through Capital One, and I’d be writing him a check the following day, and then I calmly asked when I could expect delivery on the Civic?</P><P>&nbsp;</P><P>&nbsp;He then counter offered and asked: “What if we offer you 9.99%, no money down, AND you don’t have to trade in the car?” All I really wanted was an auto-starter/security system which I knew I couldn't afford after Gap insurance and the extended warranty. Hell I&nbsp; think I couldn't even afford that after title/taxes and doc fees. I told him, if he could do all that I’d buy Gap insurance, get the security system with the auto starter (which I wanted anyway), and join their stupid Safe ride motor club under the “Gold” plan. I said all this assuming he couldn't come through; especially since I read that Honda doesn't really look twice at people with my credit score and I have a judgment on my report – Which I’m disputing and fighting to have vacated BTW.</P><P>&nbsp;</P><P>I was so sure of it, I asked CapOne to overnight me the check. I should have known he knew he could do it anyway because he had me fill out ALL the finance paperwork. And he kept using phrases like: “When my finance manager signs off on this….” Rather than: “IF my finance manager signs off on this…” and, “Since you’re going to have two car loans now…” instead of “You may end up with two loans IF this deal is approved…” Trust me, I’ve been laughed out the door so many times, by so many dealerships BEFORE I've even had the chance to look at cars I knew that filling out the paperwork was a feat within itself. Heck, the fact that I could even negotiate left me a little wet behind the ears, LOL.</P><P>&nbsp;</P><P>Today (Tuesday) I called him to tell him I’d be dropping off the check, I completely and purposely “failed” to bring up his “chat” with the finance manager about Honda financing; I didn't want to seem desperate and lose my "leverage", LOL. He then stated that he was just about to “text me” which was weird I’d rather he’d call; he wanted to know what time I wanted to come in and resign the paperwork; he then informed me that I got approved for the Civic through Honda financial, the only catch was that my APR would be 10.49% at 60 months. I wanted to push my luck and say: “Give me 10% or cash the check!” However, when I thought about the fact that I would have financed $14,200.00; $18,372.87 after extended warranty, gap insurance, taxes, title and documentation fees at 17.55% at 72 months, my payments would have been $414.18 and I wouldn't have my automatic starter/alarm system kit not (which is what I really wanted as well). I would have had to come out of my pocket anyway or give up the extended warranty and Gap because I only had $16,848.20 to work with through CapOne, I decided to just cave, and here I was thinking I had leverage, LOL.</P><P>&nbsp;</P><P>&nbsp;I forgot about that stupid safe ride, but I held up my end of the deal and added it in; no, it wasn't 9.9% but it sure&nbsp;WASN'T 17.55% either! Yes, I thought about going for a cheaper car, which for me meant changing the year, and a higher interest rate with CapOne, for some reason after the 2009-year the interest rate leaps to like 19% another “No Ma’am!”. So here’s the break down of my loan:</P><P>&nbsp;</P><P>Car cost - $14,200 Alarm system w/remote starter $799 (don’t ask me why I chose this one instead of the cheaper one… I know, I know). Saferide Motor club - $399 (I’m kinda glad I got this, because last membership cycle I called triple A seven times,&nbsp;and you know we only get four free services per membership year,&nbsp;and I’ve already had to call them once on this past Monday when my car decided to just give up the ghost on the highway…) Gap insurance $750, extended warranty $1898 (which is what I wouldn't have been able to get with a $16,848.20 loan from CapOne), Tax/Title/Doc fees - $1,411.44 which comes out to 19455.44 minus my $100 deposit to hold the car $19355.44 financed. It’s costing me $5,599.76 to finance with a total of $24,955.20. I will have paid over the life of the loan if I don’t refinance. Luckily, I plan to do just that with my bank in exactly 6 months. PS my bank told me that there was no way in hell they’d finance me while I was still in the rebuilding stage.</P><P>&nbsp;</P><P>&nbsp;</P><P>All and all I’m extremely happy with the way everything turned out. I didn't get my first choice car, but I was able to get a car that I really enjoy driving, and I didn't have to roll in that clunker. Now I know you're asking yourselves what am I going to do with the Chase loan? I still owe $5,588 on it; however, a family member offered to give me $3500 for it, he builds cars. That price is more than what the dealership offered. This leaves me with a balance of $2,088. I decided to put the money towards the loan and continue paying on it until I get my end year bonus at work and close the account. Good Riddance Chase, and Good riddance to that money pit of a Chevy!</P><P>&nbsp;</P><P>&nbsp;I hope my story gives someone hope, it can be done – you can get semi decent financing with lackluster credit. Trust me I’m currently paying 21% on that crappy Chevy. I thought Honda financial would stick to their guns; especially since I have a 599 credit score, and I’ve only had my two capital one cards (secured and unsecured) for 2-3 months. I also have a million inquiries; as I stated in the beginning -&nbsp;&nbsp;I had no Idea what I was doing, and a random judgment that I still can’t account for, I don't even remember owning that credit card! Believe me it wasn't easy fixing the damage I did to my credit, I spent many days in tears especially after seeing that judgment and SEVERAL inaccuracies on my report by Chase auto finance, mysterious credit lines and utility bills opened – I got those deleted thank God! Not to mention that my credit score dropped last month. However, with the help of God, all you kind folks and your tips on this board – as well as my own&nbsp;resolve to see this thing through, I am back on track and much more wiser too! Also I think it helped that I went into the dealership financed with Capital One’s blank check. I never seen so much “magic happen” when you’re already financed, and not in need of the dealerships assistance. Now I need to figure out how to get out of paying for the FEDEX delivery fee for that check – oops… <img id="smileywink" class="emoticon emoticon-smileywink" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-wink.gif" alt="Smiley Wink" title="Smiley Wink" /></P><P>God Bless!</P> Thu, 21 Jun 2012 11:40:10 GMT kikibloom 2012-06-21T11:40:10Z Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/252350#M83265 <P>Credit to MarvBear for an excellent idea on&nbsp;another forum; this thread is to be used for your Auto Loan Approvals just copy and paste!<BR /><BR />APPROVING BANK:<BR />BUREAU PULLED:<BR />CREDIT SCORE:</P><P><SPAN>SOFT PULL/HARD PULL:&nbsp;</SPAN><BR />CUSTOMER STATE OF RESIDENCE:<BR />NEW/USED:<BR />YEAR OF VEHICLE:<BR />MAKE:<BR />MODEL:<BR />MILEAGE:<BR />FINANCE/LEASE:</P><P>PURCHASE PRICE:<BR />AMOUNT OF LOAN:<BR />TERM CONTRACTED:<BR />APR/LEASE RATE:<BR />MONTHLY PAYMENT:<BR />ANNUAL INCOME:<BR />DEBT TO INCOME RATIO:<BR />MISCELLANEOUS COMMENTARY:<BR /><BR /><BR /><BR /><BR />Message Edited by Schoolbuskid on 05-31-2008 09:46 AM</P> Sun, 26 Aug 2018 23:47:24 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/252350#M83265 Schoolbuskid 2018-08-26T23:47:24Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/252352#M84944 <DIV></DIV><DIV><DIV><FONT face="Verdana">APPROVING BANK:<STRONG><FONT color="#3366ff">Truliant Federal Credit Union</FONT><BR /></STRONG>BUREAU PULLED: <FONT color="#0066ff"><STRONG>Equifax</STRONG><BR /></FONT>CREDIT SCORE:<FONT color="#0066ff"><STRONG>605<BR /></STRONG></FONT>CUSTOMER STATE OF RESIDENCE: <FONT color="#0066ff"><STRONG>NC<BR /></STRONG></FONT>NEW/USED: <FONT color="#0066ff"><STRONG>USED</STRONG></FONT><BR />YEAR OF VEHICLE:<FONT color="#0066ff"><STRONG>2002</STRONG></FONT></FONT></DIV><DIV><FONT face="Verdana">MAKE:<FONT color="#0066ff"><STRONG>Mercury</STRONG></FONT> </FONT></DIV><DIV><FONT face="Verdana">MODEL:<STRONG><FONT color="#0066ff">Mountaineer</FONT><BR /></STRONG>MILEAGE:<FONT color="#0066ff"><STRONG>155000</STRONG></FONT><BR />RETAIL/LEASE:<FONT color="#0066ff"><STRONG>Retail</STRONG><BR /></FONT>AMOUNT OF LOAN:<STRONG><FONT color="#0066ff">3700</FONT><BR /></STRONG>TERM CONTRACTED:<FONT color="#0066ff"><STRONG>24 months<BR /></STRONG></FONT>APR/LEASE RATE:<STRONG><FONT color="#0066ff">7.35</FONT><BR /></STRONG>MONTHLY PAYMENT:<FONT color="#0066ff"><STRONG>172</STRONG></FONT><BR />MISCELLANEOUS COMMENTARY: <FONT color="#0066ff"><STRONG>Originally bought vehicle for $7000 with a 135k miles, just recently refinanced with my Credit Union!</STRONG></FONT></FONT></DIV></DIV><BR /><BR />Message Edited by Schoolbuskid on <SPAN class="date_text">05-31-2008</SPAN> <SPAN class="time_text">09:52 AM</SPAN> Sat, 31 May 2008 16:52:38 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/252352#M84944 Schoolbuskid 2008-05-31T16:52:38Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/254247#M85441 <DIV></DIV><DIV><DIV><FONT face="Verdana">APPROVING BANK: General Electric Credit union<BR />BUREAU PULLED:Equifax<BR />CREDIT SCORE:660 ish<BR />CUSTOMER STATE OF RESIDENCE<img id="smileysurprised" class="emoticon emoticon-smileysurprised" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-surprised.gif" alt="Smiley Surprised" title="Smiley Surprised" />h<BR />NEW/USED:new<BR />YEAR OF VEHICLE:2008</FONT></DIV><DIV><FONT face="Verdana">MAKE:bmw</FONT></DIV><DIV><FONT face="Verdana">MODEL:m3<BR />MILEAGE:27<BR />RETAIL/LEASE:retail<BR />AMOUNT OF LOAN:71300<BR />TERM CONTRACTED:63<BR />APR/LEASE RATE:5.54<BR />MONTHLY PAYMENT:1313.00<BR />MISCELLANEOUS COMMENTARY: have very clean credit history, score is lower because i use credit alot.&nbsp;inquires and short account age.&nbsp;have no debt besides car and home</FONT></DIV></DIV><BR /><BR />Message Edited by creditohio on <SPAN class="date_text">06-02-2008</SPAN> <SPAN class="time_text">12:11 PM</SPAN> Mon, 02 Jun 2008 19:11:35 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/254247#M85441 Anonymous 2008-06-02T19:11:35Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/254298#M85442 <BR /><BLOCKQUOTE><HR />@Anonymous wrote:<BR /><DIV></DIV><DIV><DIV><FONT face="Verdana">NEW/USED:new<BR />YEAR OF VEHICLE:2008</FONT></DIV><DIV><FONT face="Verdana">MAKE:bmw</FONT></DIV><DIV><FONT face="Verdana">MODEL:m3<BR />MILEAGE:27<BR />RETAIL/LEASE:retail<BR />AMOUNT OF LOAN:71300<BR /></FONT><HR /></DIV></DIV></BLOCKQUOTE><BR /><BR /><BR />*@$^*@$*&amp;*!!!@@@<BR /><BR />I hate you.<BR /><BR />Just kidding, that's just the haterade talking, I'm jealous.<BR /><BR />Currently in the market for an e46m3 or e39m5 actually. Mon, 02 Jun 2008 19:49:20 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/254298#M85442 Anonymous 2008-06-02T19:49:20Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/255404#M83266 APPROVING BANK: SC State Credit Union<BR />BUREAU PULLED: Equifax<BR />CREDIT SCORE: 601<BR />CUSTOMER STATE OF RESIDENCE: SC<BR />NEW/USED: NEW<BR />YEAR OF VEHICLE: 2008<BR />MAKE: MINI<BR />MODEL: COOPER S<BR />MILEAGE: N/A<BR />RETAIL/LEASE: RETAIL<BR />AMOUNT OF LOAN: 31,000<BR />TERM CONTRACTED: 72mos<BR />APR/LEASE RATE: 7.95%<BR />MONTHLY PAYMENT: Approx $600<BR />MISCELLANEOUS COMMENTARY: Ordered the new MINI on Monday, June 9, 2008. <img id="smileyvery-happy" class="emoticon emoticon-smileyvery-happy" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-very-happy.gif" alt="Smiley Very Happy" title="Smiley Very Happy" /><BR /><BR />Message Edited by Rocket on <SPAN class="date_text">06-10-2008</SPAN> <SPAN class="time_text">12:00 PM</SPAN> Tue, 10 Jun 2008 19:00:29 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/255404#M83266 Anonymous 2008-06-10T19:00:29Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/255882#M85845 <DIV></DIV><DIV></DIV><DIV></DIV><DIV><DIV><FONT face="Verdana">APPROVING BANK:&nbsp;&nbsp; Penn. state credit union</FONT></DIV><DIV><FONT face="Verdana">BUREAU PULLED:experian<BR />CREDIT SCORE:730<BR />CUSTOMER STATE OF RESIDENCE:&nbsp;&nbsp;&nbsp; Pennsylvania<BR />NEW/USED:New<BR />YEAR OF VEHICLE:2008</FONT></DIV><DIV><FONT face="Verdana">MAKE:Chevy </FONT></DIV><DIV><FONT face="Verdana">MODEL:Malibu<BR />MILEAGE:<BR />RETAIL/LEASE:<BR />AMOUNT OF LOAN:16,000<BR />TERM CONTRACTED:60 mos<BR />APR/LEASE RATE:4.49%<BR />MONTHLY PAYMENT:approx 300.00<BR />MISCELLANEOUS COMMENTARY</FONT></DIV></DIV><BR /><BR />Message Edited by Saedra on <SPAN class="date_text">06-04-2008</SPAN> <SPAN class="time_text">12:39 AM</SPAN><BR /><BR />Message Edited by Saedra on <SPAN class="date_text">06-04-2008</SPAN> <SPAN class="time_text">12:40 AM</SPAN><BR /><BR />Message Edited by Saedra on <SPAN class="date_text">06-04-2008</SPAN> <SPAN class="time_text">12:40 AM</SPAN> Wed, 04 Jun 2008 07:40:55 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/255882#M85845 Anonymous 2008-06-04T07:40:55Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/255892#M85846 <DIV><DIV><DIV><FONT face="Verdana">APPROVING BANK:&nbsp;&nbsp;Educator's FCU</FONT></DIV><DIV><FONT face="Verdana">BUREAU PULLED:Transunion</FONT></DIV><DIV><FONT face="Verdana">CREDIT SCORE:690<BR />CUSTOMER STATE OF RESIDENCE:&nbsp;&nbsp;&nbsp; New York<BR />NEW/USED:Used<BR />YEAR OF VEHICLE:2006</FONT></DIV><DIV><FONT face="Verdana">MAKE:Honda</FONT></DIV><DIV><FONT face="Verdana">MODEL:CR-V<BR />MILEAGE:25k<BR />RETAIL/LEASE:<BR />AMOUNT OF LOAN:12,000<BR />TERM CONTRACTED:36 mos<BR />APR/LEASE RATE:4.49%<BR />MONTHLY PAYMENT:approx 340.00<BR />MISCELLANEOUS COMMENTARY</FONT></DIV></DIV></DIV> Wed, 04 Jun 2008 10:36:01 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/255892#M85846 atlastontheroad 2008-06-04T10:36:01Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/256139#M85847 APPROVING BANK: Navy Federal Credit Union<BR />BUREAU PULLED: Equifax<BR />CREDIT SCORE: 650<BR />CUSTOMER STATE OF RESIDENCE: CA<BR />NEW/USED: Used<BR />YEAR OF VEHICLE: 2004<BR />MAKE: Toyota<BR />MODEL: Matrix<BR />MILEAGE: 80,000<BR />RETAIL/LEASE: Retail<BR />AMOUNT OF LOAN: $10,492<BR />TERM CONTRACTED: 36mo<BR />APR/LEASE RATE: 8.0%<BR />MONTHLY PAYMENT: $335.17<BR />MISCELLANEOUS COMMENTARY: This was a refi after paying 18.8% on a capital one auto loan for 12 months.<BR /><BR />Message Edited by ChuckG on <SPAN class="date_text">06-04-2008</SPAN> <SPAN class="time_text">09:38 AM</SPAN> Wed, 04 Jun 2008 16:38:03 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/256139#M85847 Anonymous 2008-06-04T16:38:03Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/258224#M84216 <DIV><DIV><FONT face="Verdana">APPROVING BANK: <FONT color="#6633ff">AmeriCredit<BR /></FONT>BUREAU PULLED:<FONT color="#6633ff">All<BR /></FONT>CREDIT SCORE:<FONT color="#6633ff">601-635<BR /></FONT>CUSTOMER STATE OF RESIDENCE: <FONT color="#6633ff">PA<BR /></FONT>NEW/USED:<FONT color="#6633ff">New<BR /></FONT>YEAR OF VEHICLE:<FONT color="#6633ff">2008</FONT></FONT></DIV><DIV><FONT face="Verdana">MAKE:<FONT color="#6633ff">NIssan</FONT></FONT></DIV><DIV><FONT face="Verdana">MODEL:<FONT color="#6633ff">Altima<BR /></FONT>MILEAGE:<BR />RETAIL/LEASE: <FONT color="#6633ff">Retail<BR /></FONT>AMOUNT OF LOAN: <FONT color="#6633ff">21K<BR /></FONT>TERM CONTRACTED:<FONT color="#6633ff">72 months</FONT><BR />APR/LEASE RATE:<FONT color="#6633ff">11%<BR /></FONT>MONTHLY PAYMENT:<BR />MISCELLANEOUS COMMENTARY: <FONT color="#6633ff">I wish at the time I could put money down on this car...yet needed to purchase ASAP. Hoping to refinance by the end of this yr</FONT></FONT></DIV></DIV> Fri, 06 Jun 2008 17:30:49 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/258224#M84216 Anonymous 2008-06-06T17:30:49Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/258974#M87440 <DIV><DIV>This thread is to be used for your Auto Loan Approvals just copy and paste!</DIV><DIV><FONT face="Verdana"></FONT>&nbsp;</DIV><DIV><FONT face="Verdana">APPROVING BANK: Mazda American Credit<BR />BUREAU PULLED: Equifax<BR />CREDIT SCORE: 614 (dealer told me 630 but equifax score shows 614)<BR />CUSTOMER STATE OF RESIDENCE:Virginia<BR />NEW/USED:New<BR />YEAR OF VEHICLE:2008</FONT></DIV><DIV><FONT face="Verdana">MAKE:Mazda</FONT></DIV><DIV><FONT face="Verdana">MODEL:3<BR />MILEAGE:26<BR />RETAIL/LEASE:retrail<BR />AMOUNT OF LOAN:20K<BR />TERM CONTRACTED:60 months<BR />APR/LEASE RATE:4.9%<BR />MONTHLY PAYMENT:389<BR />MISCELLANEOUS COMMENTARY:traded in a vehicle with negative equity. was very surprised Mazda approved me.</FONT></DIV></DIV> Sat, 07 Jun 2008 15:50:32 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/258974#M87440 Anonymous 2008-06-07T15:50:32Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259208#M87485 <DIV>A 614 got you that kind of loan, with american mazda credit? Wow i was looking at the mazda 3's too! Do you have a long history? I mean thats a pretty low score to be financed at such a great rate! Pleast tell me more!</DIV> Sat, 07 Jun 2008 23:43:26 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259208#M87485 Schoolbuskid 2008-06-07T23:43:26Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259282#M83267 <DIV><DIV><FONT face="Verdana">APPROVING BANK:GMAC<BR />BUREAU PULLED:EX<BR />CREDIT SCORE:607<BR />CUSTOMER STATE OF RESIDENCE:AR</FONT></DIV><DIV><FONT face="Verdana">NEW/USED:New<BR />YEAR OF VEHICLE:2008</FONT></DIV><DIV><FONT face="Verdana">MAKE:Chevrolet</FONT></DIV><DIV><FONT face="Verdana">MODEL<img id="smileyfrustrated" class="emoticon emoticon-smileyfrustrated" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-frustrated.gif" alt="Smiley Frustrated" title="Smiley Frustrated" />uburban<BR />MILEAGE:15<BR />RETAIL/LEASE:retail<BR />AMOUNT OF LOAN:$47,000<BR />TERM CONTRACTED:72<BR />APR/LEASE RATE:7.25<BR />MONTHLY PAYMENT:797<BR />MISCELLANEOUS COMMENTARY<img id="smileyvery-happy" class="emoticon emoticon-smileyvery-happy" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-very-happy.gif" alt="Smiley Very Happy" title="Smiley Very Happy" />idn't get vehicle yet.&nbsp; Suprised that I got approved since have various closed, paid collection accounts on CR.&nbsp; Everything current.&nbsp; Trying to build score back up.&nbsp; Got mtg., credit line, and 2 credit cards low balances.&nbsp; CU said they could only do 5.9% at best.&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV></DIV> Sun, 08 Jun 2008 01:19:25 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259282#M83267 Anonymous 2008-06-08T01:19:25Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259661#M87486 <DIV></DIV><DIV></DIV><DIV>Hey Schoolbuskid,</DIV><DIV>&nbsp;</DIV><DIV>I was totally surprised that I got approved and I actually didn't believe the finance guy so I made him print me off something showing that I was approved.</DIV><DIV>&nbsp;</DIV><DIV>Right now mazda is having special financing and rebates on a lot of their vehicles. I think the financing rates are 2.9 or 3.9 for tier 0-2 credit. On the approval I saw it said I was a tier 3 credit. Here are the comments the approval officer wrote to the dealer finance guy "Paul, good dti/pti, shorter term, cash down. Trading open auto, slightly higher payment. Thanks for the business. LVL 3 Fin, slightly higher payments. Thanks for the business LVL3 60x389x20660. Call if figs change.&nbsp; Stipulations BUR Score 620-659. POI/4refers, 2k cc"</DIV><DIV>&nbsp;</DIV><DIV>I didn't trust the dealer so like I said I made them print me off a copy of the approval. They use a company called RouteOne (routeone.com) which is an electronic system that allows dealers to get approvals within minutes. They printed me off the approval page from RouteOne that showed the Mazda American Credit Decision Details: Says I was approvaed for $20,6660, 60 months at 4.9%, $2k down payment and my payments are $389. I also got a $500 mazda 3 rebate. Check out their website and look for incentives in your area and you'll see the interest rates and rebates they're offering in your area.</DIV><DIV>&nbsp;</DIV><DIV>I think they used an auto enhanced score because the salesman told me he saw my score and it was a 630 something. When I checked equifax it was 614. If it helps, my income is $35k a year base but I make around $40k after bonuses and overtime. I have a credit history that is about 8 years long because of student loans. I have a lot of student loans but they are all current, never been late. I have 3 open, current, never been late credit cards. Had two lines of credit with a furniture store that I just paid in full. I do have some collections on my credit but they aren't new collections.&nbsp;</DIV><DIV><BR />Car dealerships are having a rough time right now so the in house finance companies are probably a little bit more lenient than they normally would be. When the car salesman told me about the financing and that I could probably get the 4.9% I told him he was crazy. Apparently he wasn't lol. I was denied by capital one, buy a local credit union, and my e-loan/roadloans.com. So I was totally discouraged when I went into the dealer and not expecting a good rate.</DIV><DIV>&nbsp;</DIV><DIV>I'm picking the car up on Friday. Didn't pick it up on Friday when I bought it because I didn't have my down payment. Going to give them the $2K on friday and will take delivery then.</DIV><DIV>&nbsp;</DIV><DIV>Let me know if you have any questions.</DIV><BR /><BR />Message Edited by financenewcar on <SPAN class="date_text">06-08-2008</SPAN> <SPAN class="time_text">10:57 AM</SPAN><BR /><BR />Message Edited by financenewcar on <SPAN class="date_text">06-08-2008</SPAN> <SPAN class="time_text">11:00 AM</SPAN> Sun, 08 Jun 2008 18:00:57 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259661#M87486 Anonymous 2008-06-08T18:00:57Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259673#M87487 <DIV>Thats awesome to hear, yea i was reading something on credit boards about it being the best time to buy a car, since so many dealerships are kinda struggling. I am super excited for you and hope you enjoy your car. I guess i need to pay off my current loan first because i kinda want to keep my vehicle, and then get a small car to drive back and forth to work! I dont know how they would be with my a credit history of two years and average is 8 months!</DIV><DIV>&nbsp;</DIV><DIV>Thanks for all the info...it makes me put mazda higher up on the list! Enjoy you new car!</DIV> Sun, 08 Jun 2008 18:19:45 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259673#M87487 Schoolbuskid 2008-06-08T18:19:45Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259679#M87488 <DIV></DIV><DIV>Thanks! Glad I could help! And I hope you do decide to get a Mazda 3. You'll absolutely love it!</DIV><BR /><BR />Message Edited by financenewcar on <SPAN class="date_text">06-08-2008</SPAN> <SPAN class="time_text">11:26 AM</SPAN> Sun, 08 Jun 2008 18:26:03 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259679#M87488 Anonymous 2008-06-08T18:26:03Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259801#M84947 <DIV></DIV><DIV><DIV><FONT face="Verdana">APPROVING BANK:<STRONG> GMAC</STRONG><BR />BUREAU PULLED:&nbsp;&nbsp; <STRONG>TU</STRONG><BR />CREDIT SCORE:&nbsp;&nbsp;&nbsp;&nbsp; <STRONG>660</STRONG><BR />CUSTOMER STATE OF RESIDENCE: <STRONG>TN</STRONG><BR />NEW/USED:&nbsp; <STRONG>NEW</STRONG><BR />YEAR OF VEHICLE: <STRONG>2008</STRONG></FONT></DIV><DIV><FONT face="Verdana">MAKE:&nbsp; <STRONG>SUBARU</STRONG></FONT></DIV><DIV><FONT face="Verdana">MODEL:<STRONG>TRIBECA</STRONG><BR />MILEAGE:<STRONG>59</STRONG><BR />RETAIL/LEASE:<STRONG>RETAIL</STRONG><BR />AMOUNT OF LOAN:<STRONG>32500</STRONG><BR />TERM CONTRACTED: <STRONG>60</STRONG><BR />APR/LEASE RATE: <STRONG>9.99</STRONG><BR />MONTHLY PAYMENT: <STRONG>687(?)</STRONG><BR />MISCELLANEOUS COMMENTARY:<STRONG> No money down. Told dealership to only pull TU and they did. A month later refied with USAA</STRONG></FONT></DIV><DIV><FONT face="Verdana"></FONT>&nbsp;</DIV><DIV><FONT face="Verdana"></FONT>&nbsp;</DIV><DIV><FONT face="Verdana"></FONT>&nbsp;</DIV><DIV><DIV><FONT face="Verdana">APPROVING BANK:<STRONG>USAA</STRONG><BR />BUREAU PULLED:&nbsp;&nbsp; <STRONG>EQ</STRONG><BR />CREDIT SCORE:&nbsp;&nbsp;&nbsp;&nbsp; <STRONG>635</STRONG><BR />CUSTOMER STATE OF RESIDENCE:<STRONG>TN</STRONG><BR />NEW/USED: <STRONG>REFI</STRONG><BR />YEAR OF VEHICLE: <STRONG>2008</STRONG></FONT></DIV><DIV><FONT face="Verdana">MAKE:<STRONG>SUBARU</STRONG></FONT></DIV><DIV><FONT face="Verdana">MODEL:<STRONG>TRIBECA</STRONG><BR />MILEAGE:<STRONG>1300</STRONG><BR />RETAIL/LEASE:<STRONG>RETAIL</STRONG><BR />AMOUNT OF LOAN:<STRONG>32500</STRONG><BR />TERM CONTRACTED:<STRONG>60</STRONG><BR />APR/LEASE RATE:<STRONG>6.125</STRONG><BR />MONTHLY PAYMENT:<STRONG>667(?)</STRONG><BR />MISCELLANEOUS COMMENTARY<STRONG> Only 20 dollars less than before I refied but wanted a lower APR and more accounts with USAA</STRONG></FONT></DIV></DIV></DIV> Sun, 08 Jun 2008 22:46:16 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/259801#M84947 demo18c 2008-06-08T22:46:16Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/285446#M84948 <DIV><DIV><FONT face="Verdana">APPROVING BANK:<STRONG>NISSAN - NMAC</STRONG></FONT></DIV><DIV><FONT face="Verdana">BUREAU PULLED: <STRONG>not sure what they pulled- I pulled TU before I went</STRONG> - <STRONG>usually is the middle score for me</STRONG><BR />CREDIT SCORE:<STRONG>717<BR /></STRONG>CUSTOMER STATE OF RESIDENCE:<STRONG>Texas</STRONG><BR />NEW/USED:<STRONG>New<BR /></STRONG>YEAR OF VEHICLE:<STRONG>2009</STRONG></FONT></DIV><DIV><FONT face="Verdana">MAKE:<STRONG>Nissan</STRONG></FONT></DIV><DIV><FONT face="Verdana">MODEL:<STRONG>Versa<BR /></STRONG>MILEAGE:<STRONG>23</STRONG><BR />RETAIL/LEASE:<STRONG>Retail<BR /></STRONG>AMOUNT OF LOAN:<STRONG>16000<BR /></STRONG>TERM CONTRACTED:<STRONG>63</STRONG><BR />APR/LEASE RATE:<STRONG>6.99</STRONG><BR />MONTHLY PAYMENT:<STRONG>319<BR /></STRONG>MISCELLANEOUS COMMENTARY: <STRONG>First time financing a vehicle - it was an interesting situation but I've come away happy with my purchase.&nbsp; Also on a side note I was denied by Roadloans and several others completely - a CU was interested in giving me some financing- however had several stipulations that wouldn't have worked for us - feel like I got lucky in NMAC.</STRONG></FONT></DIV></DIV> Wed, 09 Jul 2008 22:02:50 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/285446#M84948 Lily 2008-07-09T22:02:50Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/285448#M84949 <DIV></DIV><DIV>That funny that you were denied by Roadloans, i guess they only approve scores lower than 600! LOL! <img id="smileyvery-happy" class="emoticon emoticon-smileyvery-happy" src="https://ficoforums.myfico.com/i/smilies/16x16_smiley-very-happy.gif" alt="Smiley Very Happy" title="Smiley Very Happy" />Congrats on new car! Happy Driving!</DIV><BR /><BR />Message Edited by Schoolbuskid on <SPAN class="date_text">07-09-2008</SPAN> <SPAN class="time_text">03:07 PM</SPAN> Wed, 09 Jul 2008 22:07:24 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/285448#M84949 Schoolbuskid 2008-07-09T22:07:24Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/285506#M83269 <DIV></DIV><DIV><DIV><FONT face="Verdana"></FONT><DIV><FONT face="Verdana">APPROVING BANK: <STRONG>Toyota</STRONG> <STRONG>Financing</STRONG><BR />BUREAU PULLED: <STRONG>EQ</STRONG><BR />CREDIT SCORE: <STRONG>667</STRONG><BR />CUSTOMER STATE OF RESIDENCE: <STRONG>Texas</STRONG><BR />NEW/USED: <STRONG>New</STRONG><BR />YEAR OF VEHICLE: <STRONG>2008</STRONG></FONT></DIV><DIV><FONT face="Verdana">MAKE: <STRONG>Toyota</STRONG></FONT></DIV><DIV><FONT face="Verdana">MODEL: <STRONG>Tundra double cab Texas Edition</STRONG><BR />MILEAGE: <STRONG>6<BR /></STRONG>RETAIL/LEASE: <STRONG>Retail</STRONG><BR />AMOUNT OF LOAN: <STRONG>24,000<BR /></STRONG>TERM CONTRACTED: <STRONG>75 months<BR /></STRONG>APR/LEASE RATE: <STRONG>9%</STRONG><BR />MONTHLY PAYMENT: <STRONG>$446</STRONG><BR />MISCELLANEOUS COMMENTARY: <STRONG>Easy transaction!</STRONG></FONT></DIV></DIV></DIV> Wed, 09 Jul 2008 22:57:30 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/285506#M83269 BGMWPD320 2008-07-09T22:57:30Z Re: Auto Loan Approvals! https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/285971#M87406 <DIV></DIV><DIV>I'm gonna post mine even though the interest rate is through the roof, i just came out of a bankruptcy and im just glad that anybody approved me:</DIV><DIV>&nbsp;</DIV><DIV>&nbsp;</DIV><DIV><DIV><FONT face="Verdana">APPROVING BANK: <STRONG>MarkOne Financial</STRONG><BR />BUREAU PULLED:<STRONG>all 3<BR /></STRONG>CREDIT SCORE:EX <STRONG>550, EQ, 563, TU 557</STRONG><BR />CUSTOMER STATE OF RESIDENCE: <STRONG>GA<BR /></STRONG>NEW/USED: <STRONG>USED<BR /></STRONG>YEAR OF VEHICLE <STRONG>2005</STRONG></FONT></DIV><DIV><FONT face="Verdana">MAKE:<STRONG>MITSUBISHI</STRONG></FONT></DIV><DIV><FONT face="Verdana">MODEL:<STRONG>GALANT<BR /></STRONG>MILEAGE:<STRONG>31,125</STRONG></FONT></DIV><DIV><FONT face="Verdana">RETAIL/LEASE:<STRONG>RETAIL<BR /></STRONG>AMOUNT OF LOAN:<STRONG>12,200<BR /></STRONG>TERM CONTRACTED:<STRONG>48 MONTHS<BR /></STRONG>APR/LEASE RATE:<STRONG>25%<BR /></STRONG>MONTHLY PAYMENT:<STRONG>411.01<BR /></STRONG>MISCELLANEOUS COMMENTARY: <STRONG>i was denied by everyone, this is the only company that would finance me i put 2000 down. I knew the interest rate was gonna be a killer plus i can refinance once my credit scores are back on track. </STRONG></FONT></DIV><BR /></DIV><BR /><BR />Message Edited by wynona01 on <SPAN class="date_text">07-10-2008</SPAN> <SPAN class="time_text">05:58 AM</SPAN> Thu, 10 Jul 2008 12:58:50 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/m-p/285971#M87406 wynona01 2008-07-10T12:58:50Z