Auto Loan Approvals

[southernblueeyes]

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@southernblueeyes wrote:

APPROVING BANK: Acura Financial
BUREAU PULLED: Equifax
CREDIT SCORE: 737

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: North Carolina
NEW/USED: New
YEAR OF VEHICLE: 2025
MAKE: Acura
MODEL: TLX Type S
MILEAGE: 7
FINANCE/LEASE: Finance

PURCHASE PRICE: $75,075
AMOUNT OF LOAN: $75,075
TERM CONTRACTED: 72 Months
APR/LEASE RATE: 7.99%
MONTHLY PAYMENT: $1,314
ANNUAL INCOME: $80,000
DEBT TO INCOME RATIO: 30%
MISCELLANEOUS COMMENTARY: Planning on refinancing with NFCU. 

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Refinanced with NFCU at 4.79% 

Monthly payment for 72 months $1138

[dfwxjer]

APPROVING BANK: BMW FS
BUREAU PULLED: Experian
CREDIT SCORE: 794

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: Texas
NEW/USED: Used
YEAR OF VEHICLE: 2021
MAKE: BMW
MODEL: 330e
MILEAGE: 30k
FINANCE/LEASE: Finance

PURCHASE PRICE: $32k 
AMOUNT OF LOAN: $17546
TERM CONTRACTED: 36month
APR/LEASE RATE: 3.99
MONTHLY PAYMENT: $552
ANNUAL INCOME: $260k
DEBT TO INCOME RATIO: with mortgage and this car 18%
MISCELLANEOUS COMMENTARY: very easy process and happy with the car

[dfwxjer]

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@southernblueeyes wrote:

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@southernblueeyes wrote:

APPROVING BANK: Acura Financial
BUREAU PULLED: Equifax
CREDIT SCORE: 737

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: North Carolina
NEW/USED: New
YEAR OF VEHICLE: 2025
MAKE: Acura
MODEL: TLX Type S
MILEAGE: 7
FINANCE/LEASE: Finance

PURCHASE PRICE: $75,075
AMOUNT OF LOAN: $75,075
TERM CONTRACTED: 72 Months
APR/LEASE RATE: 7.99%
MONTHLY PAYMENT: $1,314
ANNUAL INCOME: $80,000
DEBT TO INCOME RATIO: 30%
MISCELLANEOUS COMMENTARY: Planning on refinancing with NFCU. 

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Refinanced with NFCU at 4.79% 

Monthly payment for 72 months $1138

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The bank wasn't spooked at the finance amount vs the annual income? Do you have a history of large auto payments? That payment is a doozy.