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Auto Loan Approvals!

TheeCleve
Valued Member

Re: Auto Loan Approvals!

Trading it in down the road I won't ever do, I'll always sell outright, and didn't have a lot of options with 2 recent car purchases within the last year, nobody wanted to play ball and ally did .... So I took what choices I had and the best option available
Message 3331 of 4,736
Erikkis34
Member

Re: Auto Loan Approvals!


@TheeCleve wrote:
Trading it in down the road I won't ever do, I'll always sell outright, and didn't have a lot of options with 2 recent car purchases within the last year, nobody wanted to play ball and ally did .... So I took what choices I had and the best option available

Ok so it is making more sense.  Did you have cosigner for other loans or this one?  And 3 auto loans is pretty impressive.  

Message 3332 of 4,736
TheeCleve
Valued Member

Re: Auto Loan Approvals!


@Erikkis34 wrote:

@TheeCleve wrote:
Trading it in down the road I won't ever do, I'll always sell outright, and didn't have a lot of options with 2 recent car purchases within the last year, nobody wanted to play ball and ally did .... So I took what choices I had and the best option available

Ok so it is making more sense.  Did you have cosigner for other loans or this one?  And 3 auto loans is pretty impressive.  


Yes and no lol We used my fiancé's income and added her as a co applicant to justify the car was for her, she has no auto loan history so techinically I cosigned for her but I'm still the main applicant lol, and when I leased my 2016 Fusion Titanium back in Oct last year, the mileage figure never included my future other half driving it 300 mi a week back and forth to work and to the sitter, now we can break up the mileage between the two and keep them both low lol 

Message 3333 of 4,736
sdbizexec
New Member

Re: Auto Loan Approvals!

APPROVING BANK:    Ford Motor Credit
BUREAU PULLED:     Transunion
CREDIT SCORE:         574
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED:                 New
YEAR OF VEHICLE:  2015
MAKE:                          Ford
MODEL:                       F-150 Lariat
MILEAGE:                    175 after my test drive
RETAIL/LEASE:          $42,500
AMOUNT OF LOAN:     $50,900
TERM CONTRACTED:   72
APR/LEASE RATE:      11.99%
MONTHLY PAYMENT:   $989
ANNUAL INCOME:      6 Figures
DEBT TO INCOME RATIO:  16%
MISCELLANEOUS COMMENTARY:  Bought last years model at $500 over invoice after negotiating plus rebates! Had $5k negative equity left on trade which was rolled into the loan plus tax, title, and licensing. Dealer worked with FMC to close the deal teir 4 approval. Looking to refi in 12-15 months with NFCU or DCU.

Message 3334 of 4,736
BNSF650
Established Member

Re: Auto Loan Approvals!

 
Credit goals- To buy a House and to get to 700 Score as of today 609
 photo www-blue-steel-mc-flat-240x151.png photo download.jpg photo qs-emv-visa-sig-flat-240x151-www.png
Message 3335 of 4,736
BNSF650
Established Member

Re: Auto Loan Approvals!

Has anybody had any luck with having a repo and getting a auto loan though a dealership? 

Credit goals- To buy a House and to get to 700 Score as of today 609
 photo www-blue-steel-mc-flat-240x151.png photo download.jpg photo qs-emv-visa-sig-flat-240x151-www.png
Message 3336 of 4,736
nycplayboy78
Regular Contributor

Re: Auto Loan Approvals!

APPROVING BANK: DCU
BUREAU PULLED: EQ
CREDIT SCORE: 800
CUSTOMER STATE OF RESIDENCE: VIRGINIA
NEW/USED: NEW
YEAR OF VEHICLE: 2017
MAKE: CADILLAC
MODEL: XT5 PLATINUM
MILEAGE: 0
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: $64,000 I am putting $15K down so the loan is $49,000 + DCU GAP and Extended Warranty (Route 66)...DCU said that I have to pay TTL no problem on my part...I might get an add-on service from GM/Cadillac such as Auto Butler and/or Road Hazard Tire and Wheel Protection if it is not in Route 66 Warranty. Also once I get my VIN I will use DCU car buying service (True Car) to get an even lower price on my new ride Smiley Happy
TERM CONTRACTED: 65
APR/LEASE RATE: 1.99%
MONTHLY PAYMENT: $796
ANNUAL INCOME: $200K+
DEBT TO INCOME RATIO: 4%
MISCELLANEOUS COMMENTARY: Well I am in a pickle I was simply playing around with DCU and yes I am a member and I filled out my auto loan application online and I saved it for later that was yesterday 4/28/2016. So this afternoon I received an email from the DCU Loan Department asking to please call us because we have a decision regarding your loan. I was ummm OK o.O I didn't even submit my loan it was saved for later. I spoke to a Consumer Loan Rep and she said that my application was denied because they needed to pull my credit and I told her that I am waiting for my car to be built. Well the rep said oh that's not a problem your loan is good for 45 days you have from now and until June 13, 2016 to pick up your vehicle. I said to myself hmmm ok eff it why not. She asked me did I wanted to trade in my car and I said no I would private sell it and then she asked are you putting any money down and I told her $15K. She said hold the line I will talk to the Loan Officer BUTTTTTTT we need to pull your credit first and I said sure go for it. She came back a minute later and said let me speak to the loan officer and then another minute later she said CONGRATZ approved. All we need are two things from you 1. Your most recent paystub and she emailed me a link to upload to DCU and 2. The Purchase and Sales Agreement....She said my loan was approved for $64K and I told her I wanted GAP and the Route 66 Extended Warranty and she added that into my loan notes so when I get my Purchase and Sales Agreement we can see how much it will add to the loan. So I called my local Cadillac dealer and of course I got VOICEMAIL :/ 

I left a message with the Sales Manager to ask him when can I get my Purchase and Sales Agreement and he hasn't called me back yet so I will hear from him tomorrow or Monday I need to hear from him because my car is being built right now in Spring Hill, TN and it takes GM 6-8 weeks to build a car and my order was placed on 4/18/2016...YIKES!!!!.....I am bouncing off the walls right now because I am so so so excited this will be my first ever CADDY!!! YAY!!!! I am tempted right now to see what PenFed and USAA has to offer me...Guys any thoughts on this? I already know where I stand with DCU (1.99%) I want to see what my other banks have to offer me out of curiosity Smiley Happy


EX08 801 EQ08 812 TU08 805 Total Credit Line: $100K+
Message 3337 of 4,736
Demiurge
Established Member

Re: Auto Loan Approvals!


@BNSF650 wrote:

Has anybody had any luck with having a repo and getting a auto loan though a dealership? 


I was recently financed at 4.6%. Acura initially approved it, then pushed it off to Wells Fargo. Paid repo from 30 months ago, auto enhanced FICO was a 640. No money down, no trade in.

Message 3338 of 4,736
Gmood1
Super Contributor

Re: Auto Loan Approvals!


@nycplayboy78 wrote:

APPROVING BANK: DCU
BUREAU PULLED: EQ
CREDIT SCORE: 800
CUSTOMER STATE OF RESIDENCE: VIRGINIA
NEW/USED: NEW
YEAR OF VEHICLE: 2017
MAKE: CADILLAC
MODEL: XT5 PLATINUM
MILEAGE: 0
RETAIL/LEASE: RETAIL
AMOUNT OF LOAN: $64,000 I am putting $15K down so the loan is $49,000 + DCU GAP and Extended Warranty (Route 66)...DCU said that I have to pay TTL no problem on my part...I might get an add-on service from GM/Cadillac such as Auto Butler and/or Road Hazard Tire and Wheel Protection if it is not in Route 66 Warranty. Also once I get my VIN I will use DCU car buying service (True Car) to get an even lower price on my new ride Smiley Happy
TERM CONTRACTED: 65
APR/LEASE RATE: 1.99%
MONTHLY PAYMENT: $796
ANNUAL INCOME: $200K+
DEBT TO INCOME RATIO: 4%
MISCELLANEOUS COMMENTARY: Well I am in a pickle I was simply playing around with DCU and yes I am a member and I filled out my auto loan application online and I saved it for later that was yesterday 4/28/2016. So this afternoon I received an email from the DCU Loan Department asking to please call us because we have a decision regarding your loan. I was ummm OK o.O I didn't even submit my loan it was saved for later. I spoke to a Consumer Loan Rep and she said that my application was denied because they needed to pull my credit and I told her that I am waiting for my car to be built. Well the rep said oh that's not a problem your loan is good for 45 days you have from now and until June 13, 2016 to pick up your vehicle. I said to myself hmmm ok eff it why not. She asked me did I wanted to trade in my car and I said no I would private sell it and then she asked are you putting any money down and I told her $15K. She said hold the line I will talk to the Loan Officer BUTTTTTTT we need to pull your credit first and I said sure go for it. She came back a minute later and said let me speak to the loan officer and then another minute later she said CONGRATZ approved. All we need are two things from you 1. Your most recent paystub and she emailed me a link to upload to DCU and 2. The Purchase and Sales Agreement....She said my loan was approved for $64K and I told her I wanted GAP and the Route 66 Extended Warranty and she added that into my loan notes so when I get my Purchase and Sales Agreement we can see how much it will add to the loan. So I called my local Cadillac dealer and of course I got VOICEMAIL :/ 

I left a message with the Sales Manager to ask him when can I get my Purchase and Sales Agreement and he hasn't called me back yet so I will hear from him tomorrow or Monday I need to hear from him because my car is being built right now in Spring Hill, TN and it takes GM 6-8 weeks to build a car and my order was placed on 4/18/2016...YIKES!!!!.....I am bouncing off the walls right now because I am so so so excited this will be my first ever CADDY!!! YAY!!!! I am tempted right now to see what PenFed and USAA has to offer me...Guys any thoughts on this? I already know where I stand with DCU (1.99%) I want to see what my other banks have to offer me out of curiosity Smiley Happy


Great job! Your rate is really good! Only better rate I know of is getting the extra .50% for using a the true car service through PenFed. That's for 60 months not 65. Other than that, a rate through the manufacturer. Which I have no idea if there are any 0% rate incentives running.

 

Congrats on the badass Caddy!

Message 3339 of 4,736
peako216
Member

Re: Auto Loan Approvals!

APPROVING BANK: NFCU
BUREAU PULLED:Equifax
CREDIT SCORE:619 auto enhanced
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED:NEW
YEAR OF VEHICLE:2016
MAKE:VW
MODEL:GTI 4DR MAN AUTOBAHN W/PERFORMANCE PKG & LIGHTING PACKAGE + DCC
MILEAGE:28
RETAIL/LEASE:RETAIL
AMOUNT OF LOAN:35682.05
TERM CONTRACTED:72
APR/LEASE RATE:3.09
MONTHLY PAYMENT:545
ANNUAL INCOME:60K
DEBT TO INCOME RATIO:22%
MISCELLANEOUS COMMENTARY:I was happy to be approved for such a low APR no other dealer could even come close to it, all I had to do was negotiate A fair enough price on the car i was sold. Extended warranty was added for 1200$ 72k or 6 years what ever comes first.

Message 3340 of 4,736
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