Auto Loan Approvals!

[sccredit]

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@CreditCardNinja wrote:

APPROVING BANK: Comenity Bank
BUREAU PULLED: Equifax
CREDIT SCORE: 650ish

SOFT PULL/HARD PULL:  Hard Pull
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2021
MAKE: Toyota
MODEL: 2021 Rav 4
MILEAGE: 0
FINANCE/LEASE: Finance

PURCHASE PRICE: 27k +
AMOUNT OF LOAN: 27*
TERM CONTRACTED: 72
APR/LEASE RATE: 2.90%
MONTHLY PAYMENT: 441
ANNUAL INCOME:60k
DEBT TO INCOME RATIO:
MISCELLANEOUS/COMMENTARY

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I didn't even realize Comenity did auto loans, just read that they fund over a Billion a year in auto loans. Very cool. 

[Rottweilerlvr]

APPROVING BANK: Capital One
BUREAU PULLED: All of them
CREDIT SCORE: 701

SOFT PULL/HARD PULL: Soft preapproval/ then hard pull
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: New
YEAR OF VEHICLE: 2021
MAKE: Mazda
MODEL: CX 5 Grand Touring
MILEAGE: 17
FINANCE/LEASE: Finance

PURCHASE PRICE: $37,500
AMOUNT OF LOAN: $35,000
TERM CONTRACTED: 84
APR/LEASE RATE: 5.63
MONTHLY PAYMENT: $535
ANNUAL INCOME: $48000
DEBT TO INCOME RATIO: 26%
MISCELLANEOUS COMMENTARY: This is my first brand new off the lot car and I'm super excited. Just want to thank myFICO for helping me and offering advice over the past year. I'm so in love with my car. I tried to share a photo but the file is to large and I don't know how to reduce it. 

[SarahJo]

That's amazing! Congratulations on your shiny new Mazda!!!

[DarkKnight_Credit]

APPROVING BANK: BMWFS (BMW Financial Services)

BUREAU PULLED: Experian
CREDIT SCORE: Fico Auto 8 750

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: California
NEW/USED: New
YEAR OF VEHICLE: 2022
MAKE: BMW
MODEL: Z4 SDrive 30i
MILEAGE: 1
FINANCE/LEASE: Finance

PURCHASE PRICE: 74K (includes the limited warranty)
AMOUNT OF LOAN: 44K
TERM CONTRACTED: 84 (I'm going to pay it off way before 84 months)
APR/LEASE RATE: 3.59%
MONTHLY PAYMENT: 602
ANNUAL INCOME: 120k
DEBT TO INCOME RATIO: 
MISCELLANEOUS COMMENTARY:

I enjoy this car a lot. First time BMW buyer. The tech in the car is amazing. I'm so happy to finally get my first dream car!

[disdreamin]

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@Rottweilerlvr wrote:

MODEL: CX 5 Grand Touring
<snip>
MISCELLANEOUS COMMENTARY: This is my first brand new off the lot car and I'm super excited. Just want to thank myFICO for helping me and offering advice over the past year. I'm so in love with my car. I tried to share a photo but the file is to large and I don't know how to reduce it. 

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So what color did you get? I have enjoyed my CX-5 but keep eyeing the turbo - your purchase had me browsing the website, prowling for info on the '22s haha.

[Rottweilerlvr]

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@disdreamin wrote:

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@Rottweilerlvr wrote:

MODEL: CX 5 Grand Touring
<snip>
MISCELLANEOUS COMMENTARY: This is my first brand new off the lot car and I'm super excited. Just want to thank myFICO for helping me and offering advice over the past year. I'm so in love with my car. I tried to share a photo but the file is to large and I don't know how to reduce it. 

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So what color did you get? I have enjoyed my CX-5 but keep eyeing the turbo - your purchase had me browsing the website, prowling for info on the '22s haha.

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Red. Grand Touring with the GT premium package. Drives like a dream and got the sass... just like me..

[disdreamin]

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@Rottweilerlvr wrote:

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@disdreamin wrote:

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@Rottweilerlvr wrote:

MODEL: CX 5 Grand Touring
<snip>
MISCELLANEOUS COMMENTARY: This is my first brand new off the lot car and I'm super excited. Just want to thank myFICO for helping me and offering advice over the past year. I'm so in love with my car. I tried to share a photo but the file is to large and I don't know how to reduce it. 

---

So what color did you get? I have enjoyed my CX-5 but keep eyeing the turbo - your purchase had me browsing the website, prowling for info on the '22s haha.

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Red. Grand Touring with the GT premium package. Drives like a dream and got the sass... just like me..

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Hahaha, the own-your-soul-red, love it. A good friend has that with parchment leather and the premium package. Mine is a lowly GT, no HUD or heated steering wheel. I definitely have jealousy issues.

[Xyta]

APPROVING BANK: DCU
BUREAU PULLED: EQ
CREDIT SCORE: ~670

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: IL
NEW/USED: USED 
YEAR OF VEHICLE: 2018
MAKE: Mid sized 
MODEL: SUV
MILEAGE: 67000
FINANCE/LEASE: Finanxe 

PURCHASE PRICE: 13,908
AMOUNT OF LOAN: 16340
TERM CONTRACTED: 65 mos
APR/LEASE RATE: 1.74
MONTHLY PAYMENT: ~ $261
ANNUAL INCOME: $50k-$75k
DEBT TO INCOME RATIO: ~ 25%
MISCELLANEOUS COMMENTARY: easy to execute, long hold times, bank rejected one of the cars I had picked for vague reasons. DCU has no published age or mileage restrictions, but won't finance rebuilt titles. My loan after taxes fees and GAP was still just 95% the market value of the car, they go up to 120% so huzzah. 

[Jrl1vin2]

APPROVING BANK: Scott Credit Union
BUREAU PULLED: TransUnion 
CREDIT SCORE: 795

SOFT PULL/HARD PULL: Hard Pull
CUSTOMER STATE OF RESIDENCE: IL
NEW/USED: New
YEAR OF VEHICLE: 2022
MAKE: Honda
MODEL: Civic EX-L Hatchback
MILEAGE: 8
FINANCE/LEASE: Finance

PURCHASE PRICE: $28,411
AMOUNT OF LOAN: $28,000
TERM CONTRACTED: 60
APR/LEASE RATE: 1.99%
MONTHLY PAYMENT: $491.06
ANNUAL INCOME: 
DEBT TO INCOME RATIO: 15%
MISCELLANEOUS COMMENTARY: Due to the crazy market there was no room to negotiate the price.  The dealer is only getting a few cars a week and they are selling before they arrive on the lot.  Despite the current situation this was the easiest car buying experience of my life.  My wife had been to the dealer once by herself to test drive another Civic and then we went together to sign everything when ours was unloaded from the truck.  I would estimate we only spent 45 minutes signing the paperwork and picking up the car.  It helped that we were preapproved for a loan.

[Anonymous]

Congrats on the CX-5! In the process of buying a used 2016 Grand Touring myself right now! Those leather seats are niceeeeeee