cancel
Showing results for 
Search instead for 
Did you mean: 

Auto Loan Approvals!

TCable86
Member

Re: Auto Loan Approvals!

APPROVING BANK: 1st Advantage Federal Credit Union
BUREAU PULLED: Transunion 
CREDIT SCORE:723

SOFT PULL/HARD PULL: Hard  
CUSTOMER STATE OF RESIDENCE: Virginia
NEW/USED: Used
YEAR OF VEHICLE: 2020
MAKE: Volkswagen
MODEL: Tiguan
MILEAGE: 12, 512
FINANCE/LEASE: Financed

PURCHASE PRICE: $31,647.00
AMOUNT OF LOAN: $30,446.00 (Traded in 2008 Infiniti G35 in not so great condition and added a bumper to bumper service contract)
TERM CONTRACTED: 72 Months
APR/LEASE RATE: 4.69%
MONTHLY PAYMENT: $472
ANNUAL INCOME: $55813
DEBT TO INCOME RATIO: Without the car 18%
MISCELLANEOUS COMMENTARY: My car had been on it's last leg and I've been eyeing the Tiguan for some time now. I was aiming for brand new but inventory has been scarce. I did have a pre-approval with Capital One and Carvana but ultimately went with my credit union since they had the lowest rate and were offering a cash bonus for financing the car through them. It was a win-win!

Message 4601 of 4,613
Loquat
Moderator

Re: Auto Loan Approvals!

@TCable86 Congrats on the purchase and the deal you got with your credit union.  The market is still really crazy and looks like it's going to be that way for a while.  The G35 was a fine machine back in it's day but the VW is just as nice.  Enjoy your new set of wheels!

Message 4602 of 4,613
805orbust
Established Contributor

Re: Auto Loan Approvals!

APPROVING BANK: US BANK
BUREAU PULLED: Transunion
CREDIT SCORE: 762

SOFT PULL/HARD PULL:  Hard
CUSTOMER STATE OF RESIDENCE: NC
NEW/USED: CPO
YEAR OF VEHICLE: 2018
MAKE: Porsche
MODEL: Cayenne
MILEAGE: 40K
FINANCE/LEASE: Finance 

PURCHASE PRICE: $49,000
AMOUNT OF LOAN: $37,000
TERM CONTRACTED: 60 Mo
APR/LEASE RATE: 3.0%
MONTHLY PAYMENT: $670
ANNUAL INCOME: $120k
DEBT TO INCOME RATIO: 28%
MISCELLANEOUS COMMENTARY: Don't have paperwork right in front of me, however it is very close. Very happy camper BTW. 

FICO 8:  EQ:750  TU:767  EX:751
Message 4603 of 4,613
NJCasper
New Member

Re: Auto Loan Approvals!

APPROVING BANK: CITIZENS
BUREAU PULLED: Equifax
CREDIT SCORE: 675 (Score 5, 4, 2) ;  628 (Score 9) and 680 (Score 8) not sure which they looked at

SOFT PULL/HARD PULL:  Hard
CUSTOMER STATE OF RESIDENCE: MD
NEW/USED:  New
YEAR OF VEHICLE: 2021
MAKE: Ford
MODEL: Escape SE
MILEAGE: 10
FINANCE/LEASE: Finance 

PURCHASE PRICE: $35,349
AMOUNT OF LOAN: $27,320
TERM CONTRACTED: 60 Mo
APR/LEASE RATE: 3.99%
MONTHLY PAYMENT: $503
ANNUAL INCOME: $112k
DEBT TO INCOME RATIO: 12%
MISCELLANEOUS COMMENTARY: I wasn't actually looking to buy a car, but Capital One kept offering me pre-approvals (up to $63,000) for a vehicle so I started to have a look. They offered me the above vehicle with a 60 month term  at 7.14%. I didn't really think my credit was good enough for a car loan in the first place - but decided to check it out. Finally when it came time to visit the dealer and pull credit, I put around $6000 down plus a $2000 rebate offer - and I was surprised that Citizens offered me 3.99% on a much higher loan amount. Not sure which of the scores they used, I just know it was Equifax. Really curious how this new loan will ding my credit now though.

Message 4604 of 4,613
izach26
Established Member

Re: Auto Loan Approvals!

APPROVING BANK: GM Financial 
BUREAU PULLED: TransUnion
CREDIT SCORE: 703

SOFT PULL/HARD PULL: HARD 
CUSTOMER STATE OF RESIDENCE: NJ
NEW/USED: NEW 
YEAR OF VEHICLE: 2021
MAKE: Chevrolet 
MODEL: Traverse
MILEAGE: 3
FINANCE/LEASE: Lease

PURCHASE PRICE:
AMOUNT OF LOAN: $18,500
TERM CONTRACTED: 36
APR/LEASE RATE:
MONTHLY PAYMENT: $501
ANNUAL INCOME: $174,000
DEBT TO INCOME RATIO: 
MISCELLANEOUS COMMENTARY: Zero Down 1LT FWD - Bridgewater Chevrolet - Over 3 hours of Haggeling - first offer $661 Month



Message 4605 of 4,613
SquirrelGirl
New Visitor

Re: Auto Loan Approvals!

APPROVING BANK: State Farm FCU 
BUREAU PULLED: Equifax
CREDIT SCORE: 775 (me)/804 (hubby) (Fico8) - not sure which version they used

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: NEW 
YEAR OF VEHICLE: 2021
MAKE: GMC
MODEL: Acadia
MILEAGE: 4200 (used as a demo vehicle)
FINANCE/LEASE: Finance

PURCHASE PRICE: $54,792
AMOUNT OF LOAN: $49,792
TERM CONTRACTED: 84
APR/LEASE RATE: 1.9%
MONTHLY PAYMENT: $638
ANNUAL INCOME: $175k-ish joint
DEBT TO INCOME RATIO: 39% (inc new payment)
MISCELLANEOUS COMMENTARY: OTD price after tax, tag, title and dealer fees was $52k before adding the extended warranty. Because of the tech features, and experience with a $6k sunroof repair on a prior vehicle, we wanted the extended warranty. 

Message 4606 of 4,613
Currypuff72
Member

Re: Auto Loan Approvals!

APPROVING BANK: Cap 1 Auto Finance 
BUREAU PULLED: EQ & EX
CREDIT SCORE: I was told we didn't show any scores bc we converted from a BK13 and we didn't have any payment history or open credit for 4 years. Though Goldman Sachs did a SP in Sept 2021 and showed me at 600.

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: NV
NEW/USED: used
YEAR OF VEHICLE: 2018
MAKE: Jeep
MODEL: Grand Cherokee Limited
MILEAGE: 29,872
FINANCE/LEASE: finance

PURCHASE PRICE: 32,495.00
AMOUNT OF LOAN: 33,335.25
TERM CONTRACTED: 60
APR/LEASE RATE: 10.99%
MONTHLY PAYMENT: 599.50 with gap & extended warranty 
ANNUAL INCOME: 90,521.00
DEBT TO INCOME RATIO: 7.74
MISCELLANEOUS COMMENTARY: We had two auto loans On our reports that were both paid in full & never late. One of them was paid through capital one and they approved us on 10/1/2021, even though we hadn't been discharged yet. Their 10.99% rate and entire approval was contingent upon us receiving a BK7 discharge by October 29, 2021. I just learned from my attorney that we were discharged today 10/13/2021.

BK7 conversion 7/16/2021
341 mtg 8/11/2021
BK7 discharge 10/13/2021
Time to rebuild with great care & caution
Message 4607 of 4,613
disdreamin
Established Contributor

Re: Auto Loan Approvals!


@Currypuff72 wrote:

APPROVING BANK: Cap 1 Auto Finance 
FINANCE/LEASE: finance

PURCHASE PRICE: 32,495.00
AMOUNT OF LOAN: 33,335.25
TERM CONTRACTED: 60
APR/LEASE RATE: 10.99%
MONTHLY PAYMENT: 599.50 with gap & extended warranty 


I'm curious about the numbers here because the term, rate, and loan amount don't seem to line up. Is the loan for longer or is the rate lower than stated? I'm thinking there's a typo there somewhere.

Message 4608 of 4,613
SquirrelGirl
New Visitor

Re: Auto Loan Approvals!

We had to go back to the dealer to correct an error on the paperwork (our city auto filled incorrectly). We ended up putting a little extra down before they submitted to the credit union. Final financing was $48,292 and payments are $616. We wanted to keep payments closer to $600/month. 


@SquirrelGirl wrote:

APPROVING BANK: State Farm FCU 
BUREAU PULLED: Equifax
CREDIT SCORE: 775 (me)/804 (hubby) (Fico8) - not sure which version they used

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: NEW 
YEAR OF VEHICLE: 2021
MAKE: GMC
MODEL: Acadia
MILEAGE: 4200 (used as a demo vehicle)
FINANCE/LEASE: Finance

PURCHASE PRICE: $54,792
AMOUNT OF LOAN: $49,792
TERM CONTRACTED: 84
APR/LEASE RATE: 1.9%
MONTHLY PAYMENT: $638
ANNUAL INCOME: $175k-ish joint
DEBT TO INCOME RATIO: 39% (inc new payment)
MISCELLANEOUS COMMENTARY: OTD price after tax, tag, title and dealer fees was $52k before adding the extended warranty. Because of the tech features, and experience with a $6k sunroof repair on a prior vehicle, we wanted the extended warranty. 


 

Message 4609 of 4,613
Illini80
Valued Member

Re: Auto Loan Approvals!

APPROVING BANK: BMW Financial
BUREAU PULLED: Transunion
CREDIT SCORE: Fico Auto 8 721

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: AZ
NEW/USED: USED CPO
YEAR OF VEHICLE: 2018
MAKE: BMW
MODEL: X3 M40i
MILEAGE: 35000
FINANCE/LEASE: Finance

PURCHASE PRICE: $46, 500
AMOUNT OF LOAN: $51,000
TERM CONTRACTED: 72
APR/LEASE RATE: 3.49
MONTHLY PAYMENT: $840
ANNUAL INCOME: $240,000
DEBT TO INCOME RATIO: 11%
MISCELLANEOUS COMMENTARY: Added additional 2 years CPO warranty for total of 3 years, unlimited miles/zero deductable

Message 4610 of 4,613
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.