Auto Loan Approvals!

[Anonymous]

APPROVING BANK: Lone Star Credit Union
BUREAU PULLED: Equifax
CREDIT SCORE: 677
CUSTOMER STATE OF RESIDENCE: Texas

NEW/USED: New
YEAR OF VEHICLE: 2009

MAKE: Dodge

MODEL: Charger DUB Edition
MILEAGE: 38
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $22,168
TERM CONTRACTED: 60 months
APR/LEASE RATE: 6.75%
MONTHLY PAYMENT: $449.00
MISCELLANEOUS COMMENTARY: I went to the Dodge dealership and they pulled a 682 auto enhanced fico, but I have never had a car loan in my name so they said they coudln't finance me with no cosigner. I went to my CU and in 15 minutes they approved my loan. It was rediculously simple. I'm only 18, and this is my first car loan. The loan officer said since I got such a good price on the car ($19,998) I could just finance the TTL if I wanted to. My payement only varied about 30 bucks a month without it, so I did. So I got off with $0 down, a car note under 500 and a brand new car. Couldn't have done it without this site.

[Anonymous]

APPROVING BANKtate Employees Credit Union

BUREAU PULLED:  eq

CREDIT SCORE: 630

CUSTOMER STATE OF RESIDENCE: NC

NEW/USED: USED

YEAR OF VEHICLE: 2004

MAKE:Honda

MODEL:ACCORD LX

MILEAGE:79,213

RETAIL/LEASE: Refiancine

AMOUNT OF LOAN:8300

TERM CONTRACTED:3 years
APR/LEASE RATE:5.75

MONTHLY PAYMENT:220
MISCELLANEOUS COMMENTARY:I got the car refinace it was orginally 29% intrest!!!! yea i know!!!! they ran my credit report and approved me with no problem I hope to pay it off within the next year 5.75 was sooo great too me!!!

[PayingTheBills]

APPROVING BANK: Florida Commerce Credit Union
BUREAU PULLED: Equifax

CREDIT SCORE: 627
CUSTOMER STATE OF RESIDENCE: FL

NEW/USED: Used
YEAR OF VEHICLE: 2002

MAKE:Lexus

MODEL: ES300

MILEAGE: 84,000
RETAIL/LEASE:
AMOUNT OF LOAN: $9404

TERM CONTRACTED: 60 months
APR/LEASE RATE: 17.89% (falls to 16.89% after 6 on-time payments):rolleyes:

MONTHLY PAYMENT: $235

MISCELLANEOUS COMMENTARY: I still have a hard time believing I even got financed.  I had mid 400 scores less than a year ago.  The bank said a big part of it was that the car was priced well under NADA retail, which reduces their risk.

Under the current loan, I would pay a total of $13,989.  I plan to pay $400/month every month which will mean I save $2,490 in interest.  This will also reduce the length of the loan to 29 months instead of 60.  A big thanks to TXjohn for linking us to those nifty bankrate calculators.

I'm happy to add another positve tradeline to my CR.  Now I have 8 positive tradelines to help offset my negative TL's.
5 student loans, 2 CC's at 0% util, and one auto loan.

Message Edited by PayingTheBills on 04-24-2009 09:54 PM

[nmorton79]

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@Anonymous wrote:

APPROVING BANKtate Employees Credit Union

BUREAU PULLED:  eq

CREDIT SCORE: 630

CUSTOMER STATE OF RESIDENCE: NC

NEW/USED: USED

YEAR OF VEHICLE: 2004

MAKE:Honda

MODEL:ACCORD LX

MILEAGE:79,213

RETAIL/LEASE: Refiancine

AMOUNT OF LOAN:8300

TERM CONTRACTED:3 years
APR/LEASE RATE:5.75

MONTHLY PAYMENT:220
MISCELLANEOUS COMMENTARY:I got the car refinace it was orginally 29% intrest!!!! yea i know!!!! they ran my credit report and approved me with no problem I hope to pay it off within the next year 5.75 was sooo great too me!!!

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DH and I live in NC and he works for the state so we are both members of SECU.  I'm looking to purchase towards the end of the year and if the price is right, DH might want to refinance.  so I wanted to ask(if its ok, of course) what your credit looks like.  do you have any outstanding CO's or any other baddies?  I was going to try Coastal FCU, but none of their rates are as good as SECU.  I hope I am not implying, but please accept my apologies if I am.  Thanks in advance for your input

[Anonymous]

Hey nmorton79,

 I have no problem so no offense well they only check EQ . and yes i have to unpaid medical bills , they don't orry about medical bills if they are under a 1,000 dollars . I have NO COLLECTIONS ARE CHARGEOFFS if you dont as long as they are paid then its no problem they are pretty lenient on things there , they dont look at you score (at least thats what they told me)  as long as accounts showing paid of settle you should be fine! so give them a try ... hope this helps a little, if any more questions let me know!

[Anonymous]

APPROVING BANK: Capital One Auto Finance
BUREAU PULLED: TU
CREDIT SCORE: TU 536
CUSTOMER STATE OF RESIDENCE:WI
NEW/USED: USED
YEAR OF VEHICLE: 08

MAKE: Hyundai

MODEL: Sonata
MILEAGE: 30,000
RETAIL/LEASE: 14.900
AMOUNT OF LOAN:11,300
TERM CONTRACTED:60
APR/LEASE RATE:20%
MONTHLY PAYMENT:305
MISCELLANEOUS COMMENTARY: I was surprised I got approved. My boyfriend has a higher score than me by 100 pts on TU and they denied him because he didn't have enough credit history. I know my APR is high...but I will refinance later. Now this will help build my score! I love my car! Goodbye to my 99 Escort!

[jsk300]

APPROVING BANK:  Chrysler Financial
BUREAU PULLED:  Transunion
CREDIT SCORE:  662
CUSTOMER STATE OF RESIDENCE:  IL
NEW/USED:  New
YEAR OF VEHICLE:  2009

MAKE:  Dodge

MODEL:  Charger SXT
MILEAGE:  7
RETAIL/LEASE: Finance
AMOUNT OF LOAN: $18,500
TERM CONTRACTED: 60 Mos.
APR/LEASE RATE: 5.9%
MONTHLY PAYMENT: $359
MISCELLANEOUS COMMENTARY: 

Was in the dealership haggling when Finance guy came over and said there was a slight "snag", and mentioned an old charge-off from Chase in 2002, as that was one of their lenders and they frown on COs.  Told him that I settled that account back in 2004.  Also mentioned a fraud alert on my file.  Advised him that when I disputed some items in my CR, the CRA added the alert and I have tried to get it removed but it still remains.  After sitting around for about 20 minutes, Finance guy comes back and tells me Chrysler Financial is on the phone and wants to talk to me.  Very nice lady asks me some questions to verify I am who I am, and a few minutes after talking with her, finance guy comes back and says I've been approved for 5.9%.  With rebate, employee pricing, trade in and $2,000 cash down, nothing like driving home in a sleek new car (and love that new car smell).  Plan on paying this off well before 60 months. 

[Schoolbuskid]

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@nmorton79 wrote:

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@Anonymous wrote:

APPROVING BANKtate Employees Credit Union

BUREAU PULLED:  eq

CREDIT SCORE: 630

CUSTOMER STATE OF RESIDENCE: NC

NEW/USED: USED

YEAR OF VEHICLE: 2004

MAKE:Honda

MODEL:ACCORD LX

MILEAGE:79,213

RETAIL/LEASE: Refiancine

AMOUNT OF LOAN:8300

TERM CONTRACTED:3 years
APR/LEASE RATE:5.75

MONTHLY PAYMENT:220
MISCELLANEOUS COMMENTARY:I got the car refinace it was orginally 29% intrest!!!! yea i know!!!! they ran my credit report and approved me with no problem I hope to pay it off within the next year 5.75 was sooo great too me!!!

---

DH and I live in NC and he works for the state so we are both members of SECU.  I'm looking to purchase towards the end of the year and if the price is right, DH might want to refinance.  so I wanted to ask(if its ok, of course) what your credit looks like.  do you have any outstanding CO's or any other baddies?  I was going to try Coastal FCU, but none of their rates are as good as SECU.  I hope I am not implying, but please accept my apologies if I am.  Thanks in advance for your input

---

You must know that SECU only reports to Equifax, so unless you dont need this account to report to all three i say go for it. This is the only reason i have not used them for anything!

[Anonymous]

APPROVING BANK: Ford Motor Credit

BUREAU PULLED:  EQ

CREDIT SCORE: 569

CUSTOMER STATE OF RESIDENCE: MI

NEW/USED: NEW (demo)

YEAR OF VEHICLE: 2008

MAKE:Lincoln

MODEL: MKX

MILEAGE: 6,400

RETAIL/LEASE: Retail

AMOUNT OF LOAN: 32,000

TERM CONTRACTED: 7 years
APR/LEASE RATE: 5.9

MONTHLY PAYMENT: 540
MISCELLANEOUS COMMENTARY: FMC would not approve me with scores in the low 600's but approved my husband at 569. The sales rep said it was due to him having 4 previous cars that he had with FMC with excellent payment history.

Message Edited by jessica720 on 04-28-2009 03:54 PM

[flawlessly]

APPROVING BANK: Wachovia from Toyota Dealer
BUREAU PULLED: No Idea
CREDIT SCORE: No Idea but I guess around 720

CUSTOMER STATE OF RESIDENCE: Ohio
NEW/USED: Used
YEAR OF VEHICLE: 2007

MAKE: Toyota

MODEL: Camry

MILEAGE: 13100
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 11200 after tax with $5K deposit
TERM CONTRACTED: 36 Months

APR/LEASE RATE: 5.19
MONTHLY PAYMENT: 330
MISCELLANEOUS COMMENTARY: I can pay them more or whatever larger than monthly payment, just like home mortgage, the faster you pay, the lesser the interest rate at the end, awesome! I'm not sure if this is new, but it definitely happening.