Auto Loan Approvals!

[Anonymous]

I looked into it, mostly because they offer an additional % discount if you use it. But at that point, we had already found a specific car we wanted. We wanted a GLK350 is Barolo Red with the sport package and pano sunroof. Just so happened a dealership 30 minutes away had the exact thing.

Please update once you use it. I would like to know how your process went.

[texaspete2012]

I sure will. I am looking at the c250 coupe. When I price the car out through USAA its close to 10% off MSRP. Did mercedes try to beat your financing with USAA?

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@Anonymous wrote:

I looked into it, mostly because they offer an additional % discount if you use it. But at that point, we had already found a specific car we wanted. We wanted a GLK350 is Barolo Red with the sport package and pano sunroof. Just so happened a dealership 30 minutes away had the exact thing.

Please update once you use it. I would like to know how your process went.

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[mustangy]

another approval

721 Fico score

credit just established personal ny corparation i m the co signer

amount of loan: $74 000

interest rate 10.5% this is freak high

but its first time credit but after first year will be over paid or refinancing

extra %3 is come from cuz of vehicle is commercial other way personal was some about %7

car tottal msrp 97k 20k down payment

[Anonymous]

What did you buy mustangy?

[mustangy]

mercedes S350 Bluetec 2013

but insanely total credit amount is $70490.00  and for 4 yaears payment  how payments are $1938.00 i m trying to understand how this guys calculated the rates from %10.5 ??? will try wells fargo today for better rates

[breezyBr]

APPROVING BANK: Capital One Auto Finance
BUREAU PULLED: TransUnion (Auto Enhanced)
CREDIT SCORE: 713 ( after Auto Enchanced. non-auto MyFICO.com TransUnion was 736 Equifax 754)
CUSTOMER STATE OF RESIDENCE: MN
NEW/USED:Used
YEAR OF VEHICLE:2012
MAKE:Ford
MODEL: Edge Limited
MILEAGE: 23,250
RETAIL:Finance
AMOUNT OF LOAN:$26,000
TERM CONTRACTED:72
APR RATE: 3%
MONTHLY PAYMENT:$400 (estimated)
ANNUAL INCOME:$45,000
MISCELLANEOUS COMMENTARY: Off the bat, I never had a auto loan before, saved cash and bought cars older then 7+ years, did most repairs and routine maintenance myself. The vehicle I had was 15 years old (owned for 7 years) and the gas and upkeep was starting to take a toll. My bank that I've been a member of for 20 years denied my initial request, due to short credit history (6 years of only having 3 credit cards all in good standing and never missing a payment at any time). A co-worker recommend Capital One for a car loan. I was hesitant at first (thinking they were only sub-prime, high APR), but when they came back with the APR, I jumped on the deal. My bank called two days after their denial with an offer of only $16,500 and 3.8% APR for 60 months. Told my bank to get bent and that I got a much better offer elsewhere. I know I'll definitely have the loan paid off way before 72 months (52 months at best, 60 months at most).

[tengtengvn]

APPROVING BANK: KeyPoint
BUREAU PULLED: EQ
CREDIT SCORE: 750
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: ReFinanced
YEAR OF VEHICLE: xxxx

MAKE: Infiniti

MODEL: G37s
MILEAGE: xxxxx
RETAIL/LEASE: ReFinanced
AMOUNT OF LOAN: 20k
TERM CONTRACTED: 60
APR/LEASE RATE: 2.24
MONTHLY PAYMENT:

ANNUAL INCOME: xxx.xxx
MISCELLANEOUS COMMENTARY:Takes some time due to holiday but went smooth. One of fews that let me cash out because I owned 1/4 the value of the car. BoA, Wells Fargo, Chase,... don't want to refinance it due to the amount that I owned is less than $7500. "What the heck?" Plus their APR is 3.0-3.5. Ridiculous for someone with 5 years AAoA and score at 750.

[ficojoe]

APPROVING BANK: DCU

BUREAU PULLED: Equifax
CREDIT SCORE: 708
CUSTOMER STATE OF RESIDENCE: Arizona
NEW/USED: New (applied for used initally and got pre-approval, then switched to new later)
YEAR OF VEHICLE: 2012

MAKE: Kia

MODEL: Sedona
MILEAGE: 250
RETAIL/LEASE: $25,700 sticker, paid $19,890 + tax/fees
AMOUNT OF LOAN: $19,513.13
TERM CONTRACTED: 65
APR/LEASE RATE: 1.99
MONTHLY PAYMENT: $317

ANNUAL INCOME: $36,000
MISCELLANEOUS COMMENTARY:

 No hard pull, they must have either pulled soft or used my last AR pull. I also have DCU Visa and bank with them. The 1.99 rate was only available if you have (free) "relationship checking." Otherwise, the rate was 2.49%, lowered 1/2% for relationship checking customers.

The dealership tried very hard for me to use "Harris Bank" and offered to match the 1.99%... I declined. They were clearly not happy with my refusal to allow them to review my credit or to consider their bank. Interestingly, they offered to match my rate without even knowing what my credit looked like other than knowing I had good enough credit for a DCU pre-approval at 1.99% - Finanace manager told me he gets a $150 kick back for everyone who finances with Harris Bank.

[srn]

APPROVING BANK: Capital One Auto Finance, Credit union of Texas
BUREAU PULLED: Do not know
CREDIT SCORE: TU 695, EQ 670 (I pulled here)
CUSTOMER STATE OF RESIDENCE: NC
NEW/USED:NEW
YEAR OF VEHICLE:2013
MAKE:Honda
MODEL: CRV
MILEAGE: New
RETAIL:Finance
AMOUNT OF LOAN:$30,000 from Capital One, $ 20,000 from CU
TERM CONTRACTED:60
APR RATE: 2.6 % from CU, 6.8% from Capital One
MONTHLY PAYMENT:
ANNUAL INCOME:$88,000
MISCELLANEOUS COMMENTARY: I just started the process today. First i called the credit union, they only approved for $20K (i asked for 30K). The reason they told me over the phone is that since i do not have a past auto histrory, they can approve me only for $20K at 2.6 APR.

Next i applied online for the capital one auto, approved online for blank check with 6.8 % . Now i am planning to visit the dealer today for the price & finance. Will update you later.