Auto Loan Approvals!

[DuoJet]

APPROVING BANK: Chase / Subaru
BUREAU PULLED: EX, TU
CREDIT SCORE: 657 EX, 687 TU
CUSTOMER STATE OF RESIDENCE: MO
NEW/USED: Used
YEAR OF VEHICLE: 2010

MAKE: Subaru

MODEL: Impreza WRX Premium
MILEAGE: 38,900
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $21,000
TERM CONTRACTED: 72 months
APR/LEASE RATE: 11.3%
MONTHLY PAYMENT: $452

ANNUAL INCOME: $43500
MISCELLANEOUS COMMENTARY: $500 down, plus $1800 trade-in. I also purchase gap coverage and upgraded warranty due to reliability issues with WRXs. Very limited credit history, but what history I have is positive.

[tooleman694]

APPROVING BANK: Honda
BUREAU PULLED: EQ
CREDIT SCORE: 673
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: New
YEAR OF VEHICLE: 2012

MAKE: Honda

MODEL: Odyssey
MILEAGE: 0
RETAIL/LEASE: Lease
AMOUNT OF LOAN: 41k
TERM CONTRACTED: 48 Months
APR/LEASE RATE: .0024 Money Factor
MONTHLY PAYMENT: 620

ANNUAL INCOME: 92000
MISCELLANEOUS COMMENTARY:

[Anonymous]

This is exactly why we didn't buy another Odyssey. $30k to lease it for 4 years? You should've just bought it... but then you'd be paying $900 a month.. ridiculous.

[Anonymous]

APPROVING BANK: Toyota Financial Services (TFS)
BUREAU PULLED: Equifax
CREDIT SCORE: 661 (663 yesterday on MyFico)
CUSTOMER STATE OF RESIDENCE: KS
NEW/USED: New
YEAR OF VEHICLE: 2011

MAKE: Toyota 

MODEL: Tundra Crewmax TRD Rock Warrior
MILEAGE: 17
RETAIL/LEASE: Retail
AMOUNT OF LOAN: $37k and change
TERM CONTRACTED: 60
APR/LEASE RATE: 0%!!!!!
MONTHLY PAYMENT: $600 or so.

ANNUAL INCOME: $70k

MISCELLANEOUS COMMENTARY: Ok, this was a process for me!  I have a bk that is 2 years old.  Toyota had incentive on Tundra up to Tier III financing which started at 660.  I barely made it!  But the good news is, the credit score is all that they worried about.  I also purchased 10 yr / 100k mile warranty, gap insurance, and had $5k in trade-in value.  I was really surprised to be able to get the 0% as any other loan was at 10% because of the bk and low credit score.  Truely fortunate that Toyota lowered their incentive to Tier III.  FYI, this APR incentive ends on Monday and no APR incentive on Tundras in store for November's incentive release.

[kenred76]

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@guydiver wrote:

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@kenred76 wrote:

APPROVING BANK: Capital One Auto Finance
BUREAU PULLED: All 3
CREDIT SCORE: 679
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: NEW
YEAR OF VEHICLE: 2011

MAKE: HYUNDAI

MODEL: GENESIS COUPE 3.8 TRACK
MILEAGE: 500 (DEMO)
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: 30,500 (27,5 DISCOUNTED PRICE + TTL AND GAP INS)
TERM CONTRACTED: 75
APR/LEASE RATE: 7.15
MONTHLY PAYMENT: 502

ANNUAL INCOME: 36K
MISCELLANEOUS COMMENTARY: ORIGINALLY APPROVED IN SEPTEMBER THROUGH CAP ONE, AND SENT A BLANK CHECK GOOD FOR UP TO $30K, AT 9.4% APR. I COULDN'T DECIDE WHAT CAR I WANTED, SO I WAITED UNTIL THE LAST FEW DAYS BEFORE THE CHECK EXPIRED TO GO SHOPPING. WHEN I PICKED THE CAR I WANTED, THE FINANCE PERSON PROMISED THEY COULD BEAT CAP ONE'S RATE. THEY PULLED MY CREDIT AND INFORMED ME THEY HAD SEVERAL LENDERS THAT COULD BEAT 9.4....INCLUDING CAPITAL ONE...LOL.

SO, THEY THEN OFFER ME THIS EXTENDED WARRANTY THAT IS TRANSFERRABLE TO ANY NEW OWNER, THEREBY HELPING MY RESALE/TRADE IN VALUE. WHEN I AGREED TO IT, THEY DROPPED MY RATE TO 6.75%. WHEN I GOT THE CONTRACT AND SAW THE COST,  I CHANGED MY MIND AND STAYED WITH HYUNDAI'S BASIC WARRANTY; IT DROPPED MY PAYMENT, EVEN THOUGH THEY RAISED MY RATE BACK TO 7.15 (SINCE THE CAR WAS "NO LONGER PROTECTED"). I KNEW FULL WELL WHAT THEY WERE DOING, BUT I WAS TIRED AND HUNGRY AND IN NO MOOD TO QUIBBLE OVER SUCH A SMALL INCREASE.

I JUST HAVE TO SAY I AM SO SO SO GRATEFUL TO HAVE THIS CAR, ESPECIALLY WHEN I CONSIDER JUST 3 YEARS AGO, I WAS WALKING TO WORK IN THE HOT TEXAS SUN, AND WAITING FOR RIDES WHEN I GOT OFF AT MIDNIGHT. IT WAS A PRETTY LOW POINT IN MY LIFE, BUT I LEARNED FROM IT AND I'M DETERMINED TO NEVER MESS UP AGAIN.

Congrats.  Saw one when my wife bought her Sonata.  Sweet ride!

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Well thank you. I love it, but it's going to get me in trouble if I don't slow down..lol. I love your wife's car too. I was soooo close to buying a Sonata turbo, but believe it or not, the insurance is more than the Gen coupe. Go figure....

[Anonymous]

APPROVING BANK: Capital One Bank
BUREAU PULLED: Experian Transunion
CREDIT SCORE: 600ish
CUSTOMER STATE OF RESIDENCE: New York
NEW/USED: Used
YEAR OF VEHICLE: 2008

MAKE: Mercedes

MODEL: CLK
MILEAGE: 25,000
RETAIL/LEASE: Financing
AMOUNT OF LOAN: 35,000
TERM CONTRACTED:
APR/LEASE RATE:12%
MONTHLY PAYMENT:550

ANNUAL INCOME:65,000
MISCELLANEOUS COMMENTARY: I really needed a car fast. I had a clk before but it got total in a accident. I had a past repo that supposed to be dropping off soon hitting a 7 year mark. Planning to refinance after credit improves some  more. Its a very nice black on black fully loaded with low miles. I got extended warranty put on it as well. I am really happy with my choice.  

[Anonymous]

Oh i forgot to mention i only used 30,000  and not the whole 35,000.

[Booner72]

This thread is to be used for your Auto Loan Approvals just copy and paste!

APPROVING BANK:   Northwest Community Credit Union
BUREAU PULLED:      EXPERIEN
CREDIT SCORE:         714 AUTO ENHANCED FICO
CUSTOMER STATE OF RESIDENCE:  OREGON
NEW/USED:  USED
YEAR OF VEHICLE:  2006

MAKE:                       Subaru

MODEL:      Forester           
MILEAGE:    54000
RETAIL/LEASE:  Retail
AMOUNT OF LOAN:  13,500 - 15,297 with the warranty that I will probably cancel
TERM CONTRACTED:  60
APR/LEASE RATE:    5.39
MONTHLY PAYMENT:   279.00 (With warranty)  255 without

ANNUAL INCOME:        51,504
MISCELLANEOUS COMMENTARY:

My EQ Auto Enhanced was only 658.  He was able to convince the credit union to use my EX score to get the better rate.  Was initially offered 8.9 and I wouldn't take that.  He is adding some touch up paint and a detail/wash of the car.  The salesman is driving to my work today to sign all the documents.  I think this is because it's the 31st of the month and they need their numbers and I wanted to come tomorrow due to Halloween tonight.

The warranty is through CNA and I just read online that most warranties from the dealers are pieces of crap bc they don't cover anything that they deam broken from "Wear and tear" vs. a true "mechanical breakdown.  I have 30 days to cancel it after I do thorough research.

He was impressed with my FICO knowledge and I can guarantee everyone that I got this deal only because of what I learned here.  Thanks to EVERYONE!!

[Booner72]

This thread is to be used for your Auto Loan Approvals just copy and paste!

APPROVING BANK:   Northwest Community Credit Union
BUREAU PULLED:      EXPERIEN
CREDIT SCORE:         714 AUTO ENHANCED FICO
CUSTOMER STATE OF RESIDENCE:  OREGON
NEW/USED:  USED
YEAR OF VEHICLE:  2006

MAKE:                       Subaru

MODEL:      Forester           
MILEAGE:    54000
RETAIL/LEASE:  Retail
AMOUNT OF LOAN:  13,500 - 15,297 with the warranty that I will probably cancel
TERM CONTRACTED:  60
APR/LEASE RATE:    5.39
MONTHLY PAYMENT:   279.00 (With warranty)  255 without

ANNUAL INCOME:        51,504
MISCELLANEOUS COMMENTARY:

My EQ Auto Enhanced was only 658.  He was able to convince the credit union to use my EX score to get the better rate.  Was initially offered 8.9 and I wouldn't take that.  He is adding some touch up paint and a detail/wash of the car.  The salesman is driving to my work today to sign all the documents.  I think this is because it's the 31st of the month and they need their numbers and I wanted to come tomorrow due to Halloween tonight.

The warranty is through CNA and I just read online that most warranties from the dealers are pieces of crap bc they don't cover anything that they deam broken from "Wear and tear" vs. a true "mechanical breakdown.  I have 30 days to cancel it after I do thorough research.

He was impressed with my FICO knowledge and I can guarantee everyone that I got this deal only because of what I learned here.  Thanks to EVERYONE!!

[Anonymous]

APPROVING BANK:   Financial Plus Credit Union
BUREAU PULLED:     TransUnion
CREDIT SCORE:        654/547
CUSTOMER STATE OF RESIDENCE:  Michigan
NEW/USED:  Used
YEAR OF VEHICLE:  2008

MAKE: Mercury

MODEL: Mariner          
MILEAGE: 37,072
RETAIL/LEASE:  Retail
AMOUNT OF LOAN:  $16,304
TERM CONTRACTED:  63
APR/LEASE RATE: 5.5
MONTHLY PAYMENT: $298.54

ANNUAL INCOME: $65,000 combined
MISCELLANEOUS COMMENTARY:

My credit score has been low for quite some time and we're doing a lot of work to repair it. I have no auto credit history, so my partner and I decided to finance this loan together (that, and I could not get approved without her credit.) We plan to refinance the loan in a few years in just my name. She is 3 years out of Chap 7 with no negatives since the bankruptcy (which included a $25000 repo). We're slowly trying to make positive financial decisions and I'm happy to consider this one of our first big steps.

[Kayo]

APPROVING BANK: Capital One Bank
BUREAU PULLED: TransUnion
CREDIT SCORE: 578
CUSTOMER STATE OF RESIDENCE: Illinois
NEW/USED: Used
YEAR OF VEHICLE: 2008

MAKE: Mercedes

MODEL: E350
MILEAGE: 22,000
RETAIL/LEASE: Financing
AMOUNT OF LOAN: $27,142
TERM CONTRACTED: 72 Months
APR/LEASE RATE:12.59%
MONTHLY PAYMENT:541.82

ANNUAL INCOME:95,000
MISCELLANEOUS COMMENTARY: Was originally denied by Capital One online. RoadLoans approved me for $21,000 @ 17.59%. I went to CarMax to look at some cars and when the dealership re-ran the credit application Capital One approved me for a larger ammount at 12.59%, I was shocked to say the least. Capital One originally said that becuase I was 23 and my credit wasn't really established that they couldn't give me a loan, but when they verified my income and I put down a $7000 cash payment they had no problems lowering the rate. Yay!