Auto Loan Approvals!

[dunn2500]

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@Anonymous wrote:

APPROVING BANK: Navy Federal
BUREAU PULLED: TU F8
CREDIT SCORE: 803

SOFT PULL/HARD PULL: Hard 
CUSTOMER STATE OF RESIDENCE: OH
NEW/USED: Used
YEAR OF VEHICLE: 2018
MAKE: Toyota
MODEL: RAV4
MILEAGE: 31,029
FINANCE/LEASE: Finance

PURCHASE PRICE: $20,299 // $22,199 after taxes and state fees.
AMOUNT OF LOAN: $10,149.50
TERM CONTRACTED: 60 months
APR/LEASE RATE: 5.49%
MONTHLY PAYMENT: $212
ANNUAL INCOME: $125,000
DEBT TO INCOME RATIO: No idea, own home free & clear with no other credit or loan debt
MISCELLANEOUS COMMENTARY: For my first car purchase, i'm impressed. I feel like I did good. Decided to put down half of the vehicle cost because i've been saving for this for a while, might as well just secure my loan while i'm in a position to drop extra money. 

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are you sure it was Fico 8 and not Fico 9?........am looking to apply and last time they pulled fico 9 for me, just curious is all and yeah that interest rate does seem high for 800 score, especially from navy

[Harvey26]

@Anonymous  I would strongly suggest refinancing. an 803 with a almost 6% rate is absurd. I got an 3.49% rate with a 748. I would look at your local CU and see if they will refinance the car.

[cammyfive]

I believe he mentioned that it was his first car purchase so he/she possibly has a "thin file". Hypothetically, you could have an 803 with a $500 card you had for a year with no other credit history. 

If the lender was one other than NFCU I would suspect that the dealership marked up the rate but with it being NFCU it is what it is. 

[pgtackle2003]

APPROVING BANK: Capital One
BUREAU PULLED: EQ Auto5
CREDIT SCORE: 694

SOFT PULL/HARD PULL: Hard 
CUSTOMER STATE OF RESIDENCE: TN
NEW/USED: Used
YEAR OF VEHICLE: 2018
MAKE: Ford 
MODEL: F-150 XLT
MILEAGE: 49,128
FINANCE/LEASE: Finance

PURCHASE PRICE: $33,128 taxes and state fees.
AMOUNT OF LOAN: $33,128
TERM CONTRACTED: 72 months
APR/LEASE RATE: 4.3%
MONTHLY PAYMENT: $543
ANNUAL INCOME: $110,000
DEBT TO INCOME RATIO: 32%
MISCELLANEOUS COMMENTARY: I've had many auto loans with capital one and they seem to like me. Auto navigator was easy pre-qualified. My actual APR was in fact lower than quoted. 

[Honeykissez]

APPROVING BANK: NFCU
BUREAU PULLED: Transunion 
CREDIT SCORE: 730 Fico 8, 735 Auto

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: CT
NEW/USED: Used
YEAR OF VEHICLE:2018
MAKE: Mercedes 
MODEL: CLA 250
MILEAGE: 23,000
FINANCE/LEASE: Finance

PURCHASE PRICE: $27,750
AMOUNT OF LOAN: $25,000
TERM CONTRACTED: 72 months 
APR/LEASE RATE: 5.69
MONTHLY PAYMENT: $411
ANNUAL INCOME: $40k
DEBT TO INCOME RATIO: not sure. Low
MISCELLANEOUS COMMENTARY: 6 months post bk

[Anonymous]

Cannot believe I am finally doing this, but I actually get to list an approval. 

Filed October 2019 CH.7 & D/C Jan 2020. Followed the Bankruptcy/0-700 fico guide directly on these forums. 

Was denied by NFCU 3 days before my 1-year due to bankruptcy. I'll probably refinance with them later. 

APPROVING BANK: Valley Credit Union
BUREAU PULLED: EQ Fico Auto 8
CREDIT SCORE: 685

SOFT PULL/HARD PULL: Hard Pull
CUSTOMER STATE OF RESIDENCE: OREGON
NEW/USED: New
YEAR OF VEHICLE: 2021
MAKE: Subaru
MODEL: Crosstrek Limited
MILEAGE: 24
FINANCE/LEASE: Finance

PURCHASE PRICE: $26,389
AMOUNT OF LOAN: $24,800
TERM CONTRACTED: 72 months
APR/LEASE RATE: 4.49% 
MONTHLY PAYMENT: $411
ANNUAL INCOME: $39,000
DEBT TO INCOME RATIO: Low
MISCELLANEOUS COMMENTARY: When I CH.7 my car in late 2019 I was at 17.29 I cannot believe the stupid move I did back then, but so glad I hit the reset button. It all Clicks now thanks to this forum & the various YT channels I have watched. Big thanks to my BK lawyer as well. He had mentioned I could get a car after D/C, but said "hey, if you buy a beater & use that for a year. You could be looking at single digit interest rates. Just be patient." Man was he right about that.  

[LionLaw]

APPROVING BANK: JPM Chase (Subaru Motors Financed)
BUREAU PULLED: TU
CREDIT SCORE: 788

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: CT
NEW/USED: New
YEAR OF VEHICLE: 2021
MAKE: Subaru
MODEL: Impreza
MILEAGE: 7
FINANCE/LEASE: Finance

PURCHASE PRICE: $28,623
AMOUNT OF LOAN: $31,361
TERM CONTRACTED: 63 Months
APR/LEASE RATE: 0%
MONTHLY PAYMENT: $498
ANNUAL INCOME: $200,000
DEBT TO INCOME RATIO: 28% before, 32% now
MISCELLANEOUS COMMENTARY: My first 0% APR auto loan.  I've come a long way from the 7% I got when I had to finance a car early in my rebuild with FICOs still in the low 600s.

[Anonymous]

APPROVING BANK: Valley CU

BUREAU PULLED: Transunion

CREDIT SCORE: 739

SOFT PULL/HARD PULL: Hard

CUSTOMER STATE OF RESIDENCE: PA

NEW/USED: CPO

YEAR OF VEHICLE: 2018

MAKE: Mazda

MODEL: CX-5

MILEAGE: 21000

FINANCE/LEASE: Finance

PURCHASE PRICE: 24700

AMOUNT OF LOAN: 20300

TERM CONTRACTED: 60 months

APR/LEASE RATE: 2.65

MONTHLY PAYMENT: 348

ANNUAL INCOME: 72000

DEBT TO INCOME RATIO: 26%

MISCELLANEOUS COMMENTARY: I was stuck in a predatory loan, traded that in after I fixed my credit. Mazda has a 2.9 on its CPO vehicles which I would've been approved for. I went in with a pre approval with my CU for 2.85, dealership said we could do 2.65 and went with that. FYI mazda financial is now toyota, and 710 is there cut off for the best rate per the dealership finance manager.

[Louscrw]

APPROVING BANK: Chrysler Capital
BUREAU PULLED: TU
CREDIT SCORE: 725

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: New
YEAR OF VEHICLE: 2021
MAKE: RAM
MODEL: 1500 Limited
MILEAGE: 16
FINANCE/LEASE: Finance

PURCHASE PRICE: $63,759
AMOUNT OF LOAN: $62,136
TERM CONTRACTED: 72 months
APR/LEASE RATE: 0%
MONTHLY PAYMENT: $863
ANNUAL INCOME: $167,000
MISCELLANEOUS COMMENTARY:

[Anonymous]

How was your model y price so low? I thought hey stars at 49k for awd 

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@Anonymous wrote:

APPROVING BANK: NFCU
BUREAU PULLED: TU
CREDIT SCORE: 658

SOFT PULL/HARD PULL: Hard 
CUSTOMER STATE OF RESIDENCE: California
NEW/USED: New
YEAR OF VEHICLE: 2021
MAKE: Tesla
MODEL: Model Y
MILEAGE: 0 
FINANCE/LEASE: FInance

PURCHASE PRICE: $44,290 
AMOUNT OF LOAN: $47,484 (Purchase price + tax, registration, doc, etc.) 
TERM CONTRACTED: 72
APR/LEASE RATE: 4.29%
MONTHLY PAYMENT: $749
MISCELLANEOUS COMMENTARY: I'm still in rebuild mode and applied for a refinance of a Capital One auto loan (Early 2020 for $26K) that was over 10% APR and was declined to be refinanced but was approved for $50K on a new car (**bleep**?). I'm going to sell that car (Shift gave the best offer out of Carvana, Vroom, Shift and Carmax) and keep the positive equity I have in it. I have 2 credit cards with NFCU that are over a year old. Also, buying from Tesla is crazy. I ordered my car online today with a 2-6 week delivery window and it was updated to be delivered within 4 days. 

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