As you know i've been following this page for about a year and worked my scores from mid 5's to almost a 720. I applied for a car loan as I am coming back home and will need a new car. I applied with 4 different banks and all but one of them pre-approved me. But here is where I finalized the deal.
APPROVING BANK: Andrews FCU
BUREAU PULLED: Transunion Auto 8 and Experian Auto 8
CREDIT SCORE: TU 703, EX 707
CUSTOMER STATE OF RESIDENCE: Maryland
YEAR OF VEHICLE: 2017
MODEL: Acadia SLT-1 AWD
AMOUNT OF LOAN: $28800
TERM CONTRACTED: 72
APR/LEASE RATE: 2.99% (Best rate I could get from them)
MONTHLY PAYMENT: 456
ANNUAL INCOME: 65112
DEBT TO INCOME RATIO: 31%
MISCELLANEOUS COMMENTARY: Best rate was offered by AFCU. NFCU had me at 4.74% (Pulled EQ5 @ 674), DCU: 3.99% (Same as NFCU) and PenFed(EQ FICO 9 at 670) straight DENIED. haha. Did pick up extended warranty and GAP through AFCU for 7 years for $1500 as well. Went with a year old Acadia with all the features I wanted and saved me 12K compared to a new one. I am glad the car buying process is over and now I can peacefully garden for atleast 24 months or atleast till the Harley is paid off. I thank everybody for their opinions and guidance in this journey. Thanks everyone. I appreciate it all and good luck with all your future endevors.
Thank you very much for the Data Points and showing others what is possible. All too often people want to go from poor credit to a deal like your over night. It takes time and working at improving. Congrats on your new ride!
Out of curiosity, what is the Extended service contract like from the credit union? Who underwrites it and what are the terms such as mileage, length and deductible?
Thanks for the information. The prices you paid on the additional items are very reasonable compared to what a dealer would attempt to charge you.
Looks like it is the Route 66 Easy Street plan offered by many credit unions. Here is hoping you do not need it!
WHAT'S COVERED: INCLUDES ALL ITEMS COVERED UNDER THE MANUFACTURER'S ORIGINAL COVERAGE except for those items listed under "Items not covered".
24-HOUR ROADSIDE ASSISTANCE Towing, flat tire changing, fuel and fluid delivery, lock-out service, "jump" starting, and Safe and Secure Package.
RENTAL CAR REIMBURSEMENT: In the event of mechanical breakdown of a covered component, the Agreement Holder will be reimbursed up to $50 per day for a rental vehicle for each four hours of covered repair time as determined by a national flat-rate guide. Total not to exceed $250. Rental receipts required for reimbursement.
ITEMS NOT COVERED: Any normal maintenance item including tires, wheels, struts, shocks, brake shoes or pads, rotors or drums, belts, hoses, filters, fluids, lubricants, clutch, pressure plate or clutch release bearing and tune-up items. Exhaust or emission parts, sound reproduction components, lighting, wiring harness, telephone, clock, television and navigation equipment. Any body parts, interior parts, trim, glass, paint, air bag system and keyless entry/anti-theft.
Congrats on the rebuild OP. I love reading stories like these...it's a constant reminder to all that with time, hard work, and patience, it can be done...again Kudos!
Also, as a GMC owner myself (Yukon Denali) I love it. GMC makes (in my opinion) a premium product. Here's to many years and miles of trouble free driving.
As for your extended service contact...I've had Route 66 before the exact same coverage. I've had to use it more than once on a previous vehicle and they are EXTREMELY easy to work with. They cover exactly what they say...there's no ambiguity. They handle payment directly with the dealer and everything in my experience was without hiccup. I hope you don't have to ever put your warranty to test but in the event you do, I can say, if your experience is similar to that of my own...you'll be just fine as they're very easy to work with from the customer and my dealers experience.
Congrats again and enjoy that new ride when you pick it up.