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Auto Loan Approvals

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gdale6
Moderator Emeritus

Auto Loan Approvals

Credit to MarvBear for an excellent idea on another forum; this thread is to be used for your Auto Loan Approvals just copy and paste!

 

APPROVING BANK:
BUREAU PULLED:
CREDIT SCORE:

SOFT PULL/HARD PULL:
CUSTOMER STATE OF RESIDENCE:
NEW/USED:
YEAR OF VEHICLE:
MAKE:
MODEL:
MILEAGE:
FINANCE/LEASE:

PURCHASE PRICE:
AMOUNT OF LOAN:
TERM CONTRACTED:
APR/LEASE RATE:
MONTHLY PAYMENT:
ANNUAL INCOME:
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY:

 

Link back to original auto loan thread : https://ficoforums.myfico.com/t5/Auto-Loans/Auto-Loan-Approvals/td-p/252350

Message 1 of 136
135 REPLIES 135
Gidgetmom
Frequent Contributor

Re: Auto Loan Approvals

APPROVING BANK: Keys FCU
BUREAU PULLED: EQ
CREDIT SCORE: 803

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: Used
YEAR OF VEHICLE: 2020
MAKE: Ford 
MODEL: Escape
MILEAGE: 51000
FINANCE/LEASE: Refinance 

PURCHASE PRICE:
AMOUNT OF LOAN: 28959
TERM CONTRACTED: 72
APR/LEASE RATE: 3.05%
MONTHLY PAYMENT: $451
ANNUAL INCOME: 32,000
DEBT TO INCOME RATIO: not sure what it was calculated at
MISCELLANEOUS COMMENTARY. Was approved with TD Auto @ 8.49% when my utilization was still at 88% (approx $49,000).  Keys FCU did the loan at 103% LTV

Message 2 of 136
CreditCuriosity
Moderator Emeritus

Re: Auto Loan Approvals

APPROVING BANK: NFCU
BUREAU PULLED: TU
CREDIT SCORE: 800+

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: New
YEAR OF VEHICLE: 2022
MAKE: Mercedes 
MODEL: CLA 45 AMG
MILEAGE: 5
FINANCE/LEASE: Finance

PURCHASE PRICE: 72kish(tire and wheel, gap, plates, etc all included)
AMOUNT OF LOAN: 65.5k (had some positive equity from trade in to offset above amt)
TERM CONTRACTED: 72
APR/LEASE RATE: 3.79%
MONTHLY PAYMENT: $1018ish
ANNUAL INCOME: 6 figures
DEBT TO INCOME RATIO: Decent
MISCELLANEOUS COMMENTARY. This was a weird one as bought car from MBFS two weeks ago had to get car right away before off lot as came on lot that day and would of been gone for this model same day basically put a CC to hold car till I got there on Sat 2 hour drive to dealership.  Used MBFS (Mercedes benz financial) to get loan before car went poof as CU would of taken awhile ot cut check got instant approved with MBFS drove off in car.  New their best rate at 6.99 was unacceptable so waited for loan to post and got 10 day payoff amt last night.  Submitted loan application into NFCU over phone and explain was considered a refinance, but new loan due to year/model so same rate as new applied along with GAP insurance etc.  Took about 2.5 hours to get approved not sure why went to review due to score and other factors, but did.  Did that at around 8pm got text saying approved around 10:30 last night signed paperwork will have check fedex to me tomorrow and pay off MBFS.

Message 3 of 136
DaWhole9
Regular Contributor

Re: Auto Loan Approvals

APPROVING BANK: Orange Countys Credit Union
BUREAU PULLED: 
CREDIT SCORE: 803

SOFT PULL/HARD PULL: Soft
CUSTOMER STATE OF RESIDENCE: California
NEW/USED: Used
YEAR OF VEHICLE: 2016
MAKE: BMW
MODEL: 535i M Sport
MILEAGE: 60000
FINANCE/LEASE:Finance

PURCHASE PRICE: $25,800
AMOUNT OF LOAN: $ 28,401
TERM CONTRACTED: 60 months
APR/LEASE RATE: 2.9
MONTHLY PAYMENT: $500
ANNUAL INCOME: $110k
DEBT TO INCOME RATIO: 0%
MISCELLANEOUS COMMENTARY: Super Simple process.  The CU had me preapproved already.  Didnt have to apply.  Found the car, the deale pulled up my preapproval and I e-signed the docs on my phone...they delivered the car to me detailed that day.



Message 4 of 136
oorhett
Regular Contributor

Re: Auto Loan Approvals

APPROVING BANK: Granite Credit Union (Utah) 
BUREAU PULLED: Experian
CREDIT SCORE: 701

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: Utah
NEW/USED: Used
YEAR OF VEHICLE: 2008
MAKE: Porsche 
MODEL: 911
MILEAGE: 150000
FINANCE/LEASE: Fin

PURCHASE PRICE: 38,000
AMOUNT OF LOAN: 24,800
TERM CONTRACTED: 84 mo
APR/LEASE RATE: 4.74
MONTHLY PAYMENT: 348
ANNUAL INCOME: 75000
DEBT TO INCOME RATIO: 15%
MISCELLANEOUS COMMENTARY: They also called and offered a $5,000 SL Visa card as part of the loan asked for $10,000 and was approved! Used the same credit pull.




BK 7 5/19 Discharged 09/19
Beginning Scores - EQ 579, TU 565
Current Scores(Vantage, high/current) - EQ 728/690, TU 706/685 / (Fico8/9) EX^8 697 TU^8 677 EQ^9 699
Mortgage (1/24) - EX 720 / TU 727 / EQ 713
Message 5 of 136
theBeardedNerd
Regular Contributor

Re: Auto Loan Approvals

APPROVING BANK: GreenState Credit Union
BUREAU PULLED: TransUnion
CREDIT SCORE: 715

SOFT PULL/HARD PULL: Hard Pull
CUSTOMER STATE OF RESIDENCE: Iowa
NEW/USED: New
YEAR OF VEHICLE: 2022
MAKE: Audi
MODEL: A5 Sportback
MILEAGE: 12 miles
FINANCE/LEASE: Finance

PURCHASE PRICE: $55,084.75
AMOUNT OF LOAN: $55,084.75
TERM CONTRACTED: 75 months
APR/LEASE RATE: 4.59%
MONTHLY PAYMENT: $852.62
ANNUAL INCOME: $94,000
DEBT TO INCOME RATIO: 19%
MISCELLANEOUS COMMENTARY:

Currently in My Wallet:

Auto Loan:

Personal Line of Credit:

Future Credit Cards:


Message 6 of 136
Junejer
Moderator Emeritus

Re: Auto Loan Approvals

APPROVING BANK: Genesis Finance
BUREAU PULLED: TU
CREDIT SCORE: 860/821

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: WI
NEW/USED: New
YEAR OF VEHICLE: 2023
MAKE: Genesis
MODEL: GV80 3.5T Prestige Signature
MILEAGE: 14
FINANCE/LEASE: Finance

PURCHASE PRICE: $86,392 (including warranty, tax, title license, etc.)
AMOUNT OF LOAN: $62,686
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 3.49%
MONTHLY PAYMENT: $1,141.74
ANNUAL INCOME: $475K
DEBT TO INCOME RATIO: 8%
MISCELLANEOUS COMMENTARY: Wanted to get back in with PenFed, so went to them first got approved for 60 months at 5.5% and some change, but obviously went with the lower rate.







Starting Score: 469
Current Score: 846
Goal Score: 850

Take the myFICO Fitness Challenge
Message 7 of 136
finfree
Regular Contributor

Re: Auto Loan Approvals

APPROVING BANK: Subaru Motors Finance through Chase 
BUREAU PULLED: TransUnion only
CREDIT SCORE: 824 - They used FICO Auto Score 9

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2023
MAKE: Subaru
MODEL: Crosstrek
MILEAGE: 7 miles
FINANCE/LEASE: Finance

PURCHASE PRICE: 26,428
AMOUNT OF LOAN:
TERM CONTRACTED: 48 months
APR/LEASE RATE: 2.9% (Subaru rate)
MONTHLY PAYMENT:
ANNUAL INCOME:
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY


Starting Score (October 7, 2010): EQ: 698 TU: 709
Interim Score: EQ (October 21, 2010): 714 TU (November 2, 2010): 732
More Recent Interim Score: (March 14, 2018- all FICO8): TU: 831: EQ: 824: EX: 827
Goal Score: 850 all

Message 8 of 136
maxchurn
Valued Member

Re: Auto Loan Approvals

APPROVING BANK: 1st Liberty FCU
BUREAU PULLED: TU 
CREDIT SCORE: 731

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: Montana
NEW/USED: USED
YEAR OF VEHICLE: 2015
MAKE: Lexus
MODEL: RC 350 F Sport
MILEAGE: 39000
FINANCE/LEASE: REFINANCE

PURCHASE PRICE: $27.5K PAYOFF
AMOUNT OF LOAN: $39K
TERM CONTRACTED: 72 MOS
APR/LEASE RATE: 3.79%
MONTHLY PAYMENT: $613.50
ANNUAL INCOME: Over 100K
DEBT TO INCOME RATIO: Low, only an auto loan
MISCELLANEOUS COMMENTARY: Qualified for their best rate at 3.54% for 60 months but going an extra year added .25% to the loan. They pay up to clean retail, which is ridiculous but an extra $12k cash at 3.79% with GAP and no pre payment penalties, it's too good of a rate to not take advantage IMO.

Message 9 of 136
ds3
Regular Contributor

Re: Auto Loan Approvals

APPROVING BANK: Chrysler Capital
BUREAU PULLED: Experian
CREDIT SCORE: 645

SOFT PULL/HARD PULL: Hard, maybe? I really can't tell yet.
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2022
MAKE: Ram
MODEL: 1500 Laramie Eco-Diesel
MILEAGE: 20
FINANCE/LEASE: Finance

PURCHASE PRICE: $62k +/-
AMOUNT OF LOAN: $59k
TERM CONTRACTED: 72
APR/LEASE RATE: 2.9
MONTHLY PAYMENT: $913
ANNUAL INCOME: $196000
DEBT TO INCOME RATIO: 35%
MISCELLANEOUS COMMENTARY: Had no intention of buying it, but the numbers just made sense. Kind of shocked at the tier 1 rate, but income got it over the top.

Message 10 of 136
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