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Penfed uses FICO Equifax 9
@Anonymous wrote:This was back in January, but thought I'd add my datapoint:
APPROVING BANK: NFCU
BUREAU PULLED: Equifax
CREDIT SCORE: 820SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: OH
NEW/USED: Used
YEAR OF VEHICLE: 2016
MAKE: Audi
MODEL: A8L 4.0 T Sport
MILEAGE: 71000
FINANCE/LEASE: FinancePURCHASE PRICE: 32500
AMOUNT OF LOAN: 32500
TERM CONTRACTED: 60 months
APR/LEASE RATE: 4.79%
MONTHLY PAYMENT: 636
ANNUAL INCOME: 130k (me) HHI - $182k
DEBT TO INCOME RATIO: 0% (Mortgage was about $7k left in Jan, have paid house off since)
MISCELLANEOUS COMMENTARY: I'm convinced the slightly higher than normal rate (been with NFCU for years and done several loans) was due to having 7 hard inquires since Jan 2020. We are 100% debt free except for this loan, and pay the credit cards down to 0 every Friday. Somewhat annoyed as they said the "best" rate I could get was 3.79, and I got a point higher. Those inquiries really hurt me I guess.Why so many inquiries? We decided to get all the 5% cards last year - Target, Wal-Mart, USBANK, Chase Amazon/Flex, and the AOD card @ 3%. It was all worth it in the long run - deciding now if I want to pay this loan off in 5 months or let it run for a while.
Just wow all around!
Congratulations on your beautiful car!
Also nice nabs, the 5%s and 3% CCs 👍
Congratulations on your penfed approval ! Was your approval instantly???
@Anonymous wrote:APPROVING BANK: Pen Fed
BUREAU PULLED: Equifax
CREDIT SCORE: 640SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: OH
NEW/USED: USED
YEAR OF VEHICLE:2016
MAKE:Ford
MODEL:Fusion Energi
MILEAGE: 65699
FINANCE/LEASE:FinancePURCHASE PRICE: 12000
AMOUNT OF LOAN: 13200
TERM CONTRACTED: 60
APR/LEASE RATE: 5.50
MONTHLY PAYMENT:253
ANNUAL INCOME: 107000
DEBT TO INCOME RATIO: 38%
MISCELLANEOUS COMMENTARY:BK7 was discharged in December 2020. Pulled an FMCC lease through. Recently bought a 21 Pacifica Hybrid so this is a second car (for 16 year old). I'm totally shocked Pen Fed approved with the recent BK
@Anonymous wrote:This was back in January, but thought I'd add my datapoint:
APPROVING BANK: NFCU
BUREAU PULLED: Equifax
CREDIT SCORE: 820SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: OH
NEW/USED: Used
YEAR OF VEHICLE: 2016
MAKE: Audi
MODEL: A8L 4.0 T Sport
MILEAGE: 71000
FINANCE/LEASE: FinancePURCHASE PRICE: 32500
AMOUNT OF LOAN: 32500
TERM CONTRACTED: 60 months
APR/LEASE RATE: 4.79%
MONTHLY PAYMENT: 636
ANNUAL INCOME: 130k (me) HHI - $182k
DEBT TO INCOME RATIO: 0% (Mortgage was about $7k left in Jan, have paid house off since)
MISCELLANEOUS COMMENTARY: I'm convinced the slightly higher than normal rate (been with NFCU for years and done several loans) was due to having 7 hard inquires since Jan 2020. We are 100% debt free except for this loan, and pay the credit cards down to 0 every Friday. Somewhat annoyed as they said the "best" rate I could get was 3.79, and I got a point higher. Those inquiries really hurt me I guess.Why so many inquiries? We decided to get all the 5% cards last year - Target, Wal-Mart, USBANK, Chase Amazon/Flex, and the AOD card @ 3%. It was all worth it in the long run - deciding now if I want to pay this loan off in 5 months or let it run for a while.
Whew! Now that's a smooth looking ride there! Cheers to that!
Thanks!
Honda, Experian (734) hard pull. 10% down. 0% 48 months. No fees.
I did ask the finance guy about pre-payment penalties and he looked at me kinda funny.
@D10001 wrote:Honda, Experian (734) hard pull. 10% down. 0% 48 months. No fees.
I did ask the finance guy about pre-payment penalties and he looked at me kinda funny.
I would have looked back at him funny and let him know I will wait for an answer but I sign the documents!
In this instance, I think a congrats to you ranks higher than my 2 cents!
Great job! 👍
APPROVING BANK: Subaru Motors Finance (Chase)
BUREAU PULLED: EX fico auto 9, TU auto 4
CREDIT SCORE: ex 9 735, tu 4 700
SOFT PULL/HARD PULL: two hard pulls - one from dealer, one from chase
CUSTOMER STATE OF RESIDENCE: NV
NEW/USED: new
YEAR OF VEHICLE: 2021
MAKE: subaru
MODEL: forester
MILEAGE: 10
FINANCE/LEASE: finance
PURCHASE PRICE: 33445 including all taxes, fees, etc
AMOUNT OF LOAN: 27445
TERM CONTRACTED: 60 months
APR/LEASE RATE: 1.9
MONTHLY PAYMENT: 480
ANNUAL INCOME: 64k
DEBT TO INCOME RATIO: less than 10% util on CC, no other debt
MISCELLANEOUS COMMENTARY: also applied with cap 1 and NFCU (on my first day of membership). accepted to cap 1 at about 5% for this vehicle, denied by NFCU for limited credit history and unable to verify income (self employed as sole proprietor).
i was very surprised to qualify for tier one captive financing considering i had no loan history beyond a closed $600 self loan, some old CC derogs, small number of modest credit card limits (sub 2K), and i am a self employed new resident to the state. no proof of income was requested. fwiw, i was told by the salesperson that 700+ gets you tier one financing and that making a significant down payment substantially increases the odds of approval with chase on thin files.
APPROVING BANK: NFCU
BUREAU PULLED: Transunion
CREDIT SCORE: 755
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: NEW
YEAR OF VEHICLE: 2021
MAKE: Toyota
MODEL: Highlander XSE
MILEAGE: 4
FINANCE/LEASE: Finance
PURCHASE PRICE: 48k
AMOUNT OF LOAN: 33k
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 2.49%
MONTHLY PAYMENT: $586
ANNUAL INCOME: 55K
DEBT TO INCOME RATIO: <1%
MISCELLANEOUS COMMENTARY: City World Toyota in the bronx gried to f me with the trade in but I fought till the end and I even asked for a refund on my deposit till they gave up and gave me a decent offer for my 2017 camry
APPROVING BANK: Capital One
BUREAU PULLED: TU at dealer, then EX 2 days later
CREDIT SCORE: TU 696 joint with 693. I think they were Fico 8.
SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: OH
NEW/USED: Used CPO
YEAR OF VEHICLE: 2020
MAKE: Hyundai
MODEL: Santa Fe
MILEAGE: 9,871
FINANCE/LEASE: Finance
PURCHASE PRICE: $25,250
AMOUNT OF LOAN: $26,047.50
TERM CONTRACTED: 84
APR/LEASE RATE: 2.78
MONTHLY PAYMENT: $343
ANNUAL INCOME: $126,355
DEBT TO INCOME RATIO: 25%
MISCELLANEOUS COMMENTARY: Put $1,500 down. Bankruptcy 7 dc 1/2016.