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@ds3 wrote:APPROVING BANK: Chrysler Credit
BUREAU PULLED: Experian
CREDIT SCORE: 645SOFT 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: FinancePURCHASE 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.
@ds3 - Well now, this is very encouraging and a great read you obtaining Tier1 level. Did you put a significant down? I've been preparing myself for a new RAM truck by end of next year after gardening a bit, waiting for BK13 to fall off my reports and some inquiries to vanish. I make about $50K less than you do. Do you mind if I ask, any baddies on your credit reports? Did you already have a an established relationship with the dealer prior to your latest aquisition?
APPROVING BANK: Wells Fargo
BUREAU PULLED: TU
CREDIT SCORE: 660's
SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: New Jersey
NEW/USED: Certified Pre Owned
YEAR OF VEHICLE: 2020
MAKE: Ford
MODEL: Mustang Ecoboost
MILEAGE: 5k
FINANCE/LEASE: Finance
PURCHASE PRICE: $36,000
AMOUNT OF LOAN: $33,000
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 9%
MONTHLY PAYMENT: $730
ANNUAL INCOME: $100,000
DEBT TO INCOME RATIO: I honestly haven't checked. LOL, but it has to be relatively low.
MISCELLANEOUS COMMENTARY: Looking to refinance this in the next 6 months. I should be a 700 score by then. Can anyone recommend any good banks to refinance with ?
@ds3 - Well now, this is very encouraging and a great read you obtaining Tier1 level. Did you put a significant down? I've been preparing myself for a new RAM truck by end of next year after gardening a bit, waiting for BK13 to fall off my reports and some inquiries to vanish. I make about $50K less than you do. Do you mind if I ask, any baddies on your credit reports? Did you already have a an established relationship with the dealer prior to your latest aquisition?
I didn't put any cash down, but they gave me $7200 for my trade(2013 Audi A4), and $3250 in incentives. I have no baddies, but I entered a Debt Management Plan earlier this year, which greatly reduced DTI...still not entirely clear how that worked out, but it's been awesome. No, never been to the dealer before. I honestly didn't go there to buy, just researching. They really wanted to sell it, and met every concession I came up with, and then some. I didn't even have the trade-in with me, I drove my other car to the dealer that day. The deal was completely done before they even saw it. I've purchased 13 new vehicles in my life, and this was the easiest one ever...in and out of the dealership in 2 hours.
@ds3 wrote:@ds3 - Well now, this is very encouraging and a great read you obtaining Tier1 level. Did you put a significant down? I've been preparing myself for a new RAM truck by end of next year after gardening a bit, waiting for BK13 to fall off my reports and some inquiries to vanish. I make about $50K less than you do. Do you mind if I ask, any baddies on your credit reports? Did you already have a an established relationship with the dealer prior to your latest aquisition?
I didn't put any cash down, but they gave me $7200 for my trade(2013 Audi A4), and $3250 in incentives. I have no baddies, but I entered a Debt Management Plan earlier this year, which greatly reduced DTI...still not entirely clear how that worked out, but it's been awesome. No, never been to the dealer before. I honestly didn't go there to buy, just researching. They really wanted to sell it, and met every concession I came up with, and then some. I didn't even have the trade-in with me, I drove my other car to the dealer that day. The deal was completely done before they even saw it. I've purchased 13 new vehicles in my life, and this was the easiest one ever...in and out of the dealership in 2 hours.
@ds3 - Thank you very much for the extra details this is very helpful. My hat goes off to you on working out a great deal on an incredible truck - enjoy it!
@FLLGuy wrote:@ds3 - Well now, this is very encouraging and a great read you obtaining Tier1 level. Did you put a significant down? I've been preparing myself for a new RAM truck by end of next year after gardening a bit, waiting for BK13 to fall off my reports and some inquiries to vanish. I make about $50K less than you do. Do you mind if I ask, any baddies on your credit reports? Did you already have a an established relationship with the dealer prior to your latest aquisition?
@FLLGuyI would strongly encourage you to check out Mark CDJR in Lake Charles, LA if you plan on special ordering a new Ram truck. Also, if you're planning doing light-duty, check out the 5th Gen Ram forums, lots of good info there. If HD, there is a similar HD forum that links are provided to from the 5th Gen site. We went through Mark Dodge for our most recent Ram and couldn't have been happier with the process and price.
@disdreamin - thank you for your response. Interestingly enough I've read through several posts where some have mentioned their positive experience @ Mark Dodge CDJR - Lake Charles. I've never purchased a vehicle outaide of FL but i'm open when the time comes. Besides FL is notorious for unregulated and outrageous dealer fees.
@FLLGuy wrote:@disdreamin - thank you for your response. Interestingly enough I've read through several posts where some have mentioned their positive experience @ Mark Dodge CDJR - Lake Charles. I've never purchased a vehicle outaide of FL but i'm open when the time comes. Besides FL is notorious for unregulated and outrageous dealer fees.
It was our first time purchasing (WAY) out of state, but Mark Dodge did all the paperwork for us and all we had to do was either pick the truck up or let them know we wanted them to make arrangements for delivery. It was, by far, the easiest deal I've ever done for a vehicle and I wouldn't hesitate to buy from them again. I worked directly with Aaron on the order and it was all done in a few emails and a phone call.
APPROVING BANK: PNC Bank
BUREAU PULLED: Experian
CREDIT SCORE: 802 (814 FICO 8)
SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE: 2023
MAKE: Porsche
MODEL: Cayenne Coupe Platinum Edition
MILEAGE: 0
FINANCE/LEASE: Finance
PURCHASE PRICE: 110000
AMOUNT OF LOAN: 100000
TERM CONTRACTED: 60 mos
APR/LEASE RATE: 5.54%
MONTHLY PAYMENT: $1912
ANNUAL INCOME: $277000
DEBT TO INCOME RATIO: Not sure, can range from 20~30%
MISCELLANEOUS COMMENTARY: Waiting on few other lenders, penfed/ ccu/ bofa (long time bofa customer, primarily for student loan payments though). Will app PFS and Chase (primary bank). Hoping to get lower rate. Exciting!
APPROVING BANK: Bank of America
BUREAU PULLED: TU
CREDIT SCORE: 785
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: WI
NEW/USED: Used
YEAR OF VEHICLE: 2021
MAKE: Audi
MODEL: Q7 Premium Plus
MILEAGE: 8929
FINANCE/LEASE: Finance
PURCHASE PRICE: 62,231
AMOUNT OF LOAN: 57,231
TERM CONTRACTED: 60
APR/LEASE RATE: 6%
MONTHLY PAYMENT: 1030ish
ANNUAL INCOME:
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: Vehicle was never sold. Dealership used it for test drives. I'm sure some employee must've driven it for a bit as well. Got a basically new vehicle (extremely loaded) without paying the new car price.
BofA offering 60 mo @ 4.29%. Pulled Experian. Looking good so far!
APPROVING BANK: PNC Bank
BUREAU PULLED: Experian
CREDIT SCORE: 802 (814 FICO 8)
SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: NY
NEW/USED: New
YEAR OF VEHICLE: 2023
MAKE: Porsche
MODEL: Cayenne Coupe Platinum Edition
MILEAGE: 0
FINANCE/LEASE: Finance
PURCHASE PRICE: 110000
AMOUNT OF LOAN: 100000
TERM CONTRACTED: 60 mos
APR/LEASE RATE: 5.54%
MONTHLY PAYMENT: $1912
ANNUAL INCOME: $277000
DEBT TO INCOME RATIO: Not sure, can range from 20~30%
MISCELLANEOUS COMMENTARY: Waiting on few other lenders, penfed/ ccu/ bofa (long time bofa customer, primarily for student loan payments though). Will app PFS and Chase (primary bank). Hoping to get lower rate. Exciting!