Auto Loan Approvals!

[TheFIGuy]

@ChemE_Bear CONGRATS! I love my M3P - Stealth (even with its quality control issues). I'm going to be upgrading to the cybertruck when it comes out instead of the MYP 2021. But **bleep** it did tempt me!

[Anonymous]

APPROVING BANK: Hyundai Motor Credit
BUREAUS PULLED: Equifax
CREDIT SCORE: EX FICO 8: 836

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: New
YEAR OF VEHICLE: 2020
MAKE: Hyundai
MODEL: Tucson
MILEAGE: 1103
FINANCE/LEASE: Finance

PURCHASE PRICE: $26150
AMOUNT OF LOAN: $22150
TERM CONTRACTED: 60
APR/LEASE RATE: 1.9%
MONTHLY PAYMENT: $387
ANNUAL INCOME: ~$83000

DEBT TO INCOME RATIO: ~25%
MISCELLANEOUS COMMENTARY: Hyundai offered 1.9% on 60 months for new 2020 and 2021 Tucsons. I went with a 2020 because it was a less expensive, low mileage loaner vehicle and there is no difference between model years on the Tucson Value trim. I am very satisfied with purchase and I plan to pay the car off early.

[doz4life]

APPROVING BANK: Santander Bank
BUREAU PULLED: All three
CREDIT SCORE: 619

SOFT PULL/HARD PULL: Hard Pull
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: Used
YEAR OF VEHICLE: 2017
MAKE: Nissan
MODEL: Maxima
MILEAGE: 26,000
FINANCE/LEASE: Finance

PURCHASE PRICE: $19,500
AMOUNT OF LOAN: $23,000
TERM CONTRACTED: 72 Months
APR/LEASE RATE: %17.23
MONTHLY PAYMENT:580.00
ANNUAL INCOME: 140,000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY:

[loco1]

APPROVING BANK: VW Credit
BUREAUS PULLED:Transunion
CREDIT SCORE: TU FICO 8: 657

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: Used
YEAR OF VEHICLE: 2019
MAKE: Volkswagen
MODEL: Atlas
MILEAGE: 34,900
FINANCE/LEASE: Finance

PURCHASE PRICE: $31200
AMOUNT OF LOAN: $31200
TERM CONTRACTED: 72
APR/LEASE RATE: 4.14%
MONTHLY PAYMENT: $499
ANNUAL INCOME: ~$86000

DEBT TO INCOME RATIO: ~1%

MISCELLANEOUS COMMENTARY: 

[mavric]

APPROVING BANK:  Hyundai motor Finance
BUREAU PULLED: ??  
CREDIT SCORE:   747

SOFT PULL/HARD PULL:  HARD
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: NEW
YEAR OF VEHICLE:   2021
MAKE:   Hyundai
MODEL:  Tucson  Ultimate
MILEAGE: 3
FINANCE/LEASE:  Finance

PURCHASE PRICE:   34,606.40
AMOUNT OF LOAN:   29,972.85
TERM CONTRACTED:  48 
APR/LEASE RATE:  1.9
MONTHLY PAYMENT: 649.47
ANNUAL INCOME: 140,000
DEBT TO INCOME RATIO:  < 10%   2 car payments , credit cards pay off ever month ,  house payed off
MISCELLANEOUS COMMENTARY:   4 other dealers could'nt make the numbers work on trade.   Last day of month Deal  

[Anonymous]

I purchased a new vehicle last week and did Carvana's financing as it was super easy (didn't even provide any paystubs), applied this week to refi through a few places and want to get it moved over ASAP.

APPROVING BANK: Original: Carvana / Refi: Credit Union of TX
BUREAU PULLED: Orig: Equifax / Refi: Transunion
CREDIT SCORE: Orig: 659 / Refi: 680

SOFT PULL/HARD PULL: Hard Pulls
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: Used
YEAR OF VEHICLE: 2019
MAKE: Ram
MODEL: 1500 Lone Star Crew Cab
MILEAGE: 19,063
FINANCE/LEASE: Finance

PURCHASE PRICE: $33,990 + Tax
AMOUNT OF LOAN: $35,023
TERM CONTRACTED: 69 mo
APR/LEASE RATE: Orig: 10.2 / Refi: 6.39
MONTHLY PAYMENT: Orig: $674 / Refi: $587
ANNUAL INCOME: $73K
DEBT TO INCOME RATIO: Currently Fluctuating
MISCELLANEOUS COMMENTARY: Recently consolidated about 20K of CC debt, and that was in the middle of reflecting on my credit report when I originally did Carvana's preapproval. Planning on going a year with this vehicle and refinancing through PenFed, RBFCU, or DCU or just trading in the vehicle again.

[Crazycarlady11417]

APPROVING BANK: BMW Financial 
BUREAU PULLED: All three went with highest 
CREDIT SCORE: Experian Auto 8: 722

SOFT PULL/HARD PULL: Hard Pulls
CUSTOMER STATE OF RESIDENCE: NV
NEW/USED: New 
YEAR OF VEHICLE: 2020
MAKE: BMW
MODEL: X5
MILEAGE: 389
FINANCE/LEASE: Finance

PURCHASE PRICE: $56, 000
AMOUNT OF LOAN: $56,000
TERM CONTRACTED: 72 mo
APR/LEASE RATE: 1.9%(qualified for 0.9% but went with 72 months at 1.9%) 
MONTHLY PAYMENT: $945
ANNUAL INCOME: $200k (combined with my husband but just financed in my name)
DEBT TO INCOME RATIO: 
MISCELLANEOUS COMMENTARY: I was so happy to get this car! It's my dream!  After reading so many threads on here I felt confident that I would be tier 1 with BMW. My credit took a hit from a bad issue with my ex husband that I've been working diligently to get fixed. 

[Gladius]

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@Crazycarlady11417 wrote:

APPROVING BANK: BMW Financial 
BUREAU PULLED: All three went with highest 
CREDIT SCORE: Experian Auto 8: 722

SOFT PULL/HARD PULL: Hard Pulls
CUSTOMER STATE OF RESIDENCE: NV
NEW/USED: New 
YEAR OF VEHICLE: 2020
MAKE: BMW
MODEL: X5
MILEAGE: 389
FINANCE/LEASE: Finance

PURCHASE PRICE: $56, 000
AMOUNT OF LOAN: $56,000
TERM CONTRACTED: 72 mo
APR/LEASE RATE: 1.9%(qualified for 0.9% but went with 72 months at 1.9%) 
MONTHLY PAYMENT: $945
ANNUAL INCOME: $200k (combined with my husband but just financed in my name)
DEBT TO INCOME RATIO: 
MISCELLANEOUS COMMENTARY: I was so happy to get this car! It's my dream!  After reading so many threads on here I felt confident that I would be tier 1 with BMW. My credit took a hit from a bad issue with my ex husband that I've been working diligently to get fixed. 

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Congrats!  But why is your payment so high?  Shouldn't it be in the low $800s?

[Anonymous]

---

@mavric wrote:

APPROVING BANK:  Hyundai motor Finance
BUREAU PULLED: ??  
CREDIT SCORE:   747

SOFT PULL/HARD PULL:  HARD
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: NEW
YEAR OF VEHICLE:   2021
MAKE:   Hyundai
MODEL:  Tucson  Ultimate
MILEAGE: 3
FINANCE/LEASE:  Finance

PURCHASE PRICE:   34,606.40
AMOUNT OF LOAN:   29,972.85
TERM CONTRACTED:  48 
APR/LEASE RATE:  1.9
MONTHLY PAYMENT: 649.47
ANNUAL INCOME: 140,000
DEBT TO INCOME RATIO:  < 10%   2 car payments , credit cards pay off ever month ,  house payed off
MISCELLANEOUS COMMENTARY:   4 other dealers could'nt make the numbers work on trade.   Last day of month Deal  

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Enjoy.  My wife has had hers for 2 years and no issues.

[Anonymous]

One question.. Did Chrysler ask for proof of income with your credit scores?