Approving Bank: Alliant
Bureau Pulled: TransUnion FICO 9
Credit Score: 745
Customer State of Residence: Maryland
New/Used: Used
Year of Vehicle: 2013
Make: Nissan
Model: Altima
Mileage: 88,505
Retail/Lease: Retail
Amount of Loan: $9125 (GAP and Extended Warranty built in)
Term Contracted: 60 Months
APR/Lease Rate: 2.99%
Monthly Payment: $163
Annual Income: $70k
Debt to Income Ratio: 30%
Miscellaneous Commentary: Use the Alliant Car Buying Service powered by Truecar for an extra %0.5 APR reduction.
Personal cards:
@fr3shstart. What did they consider “short credit history”?? How'd you get around it in the end?
I never even thought about that aspect before (AAoA) but I may be in the same boat having lived overseas for 5 years and everything fell off my reports (both bad AND good) so despite having had 22 cars in my life, not a single loan shows up on my reports now?!? I’m up to 3 yrs total now, but my AAoA is only 1.6yrs they say. Hmmm... Def food for thought.
Read the past 20 pages and def steering clear of Toyota as they pull only EXP. who are my weakest link. Need a “TU only” dealer or mfg. I'm at 770 now with TU/EQ but god only knows what the real “auto” score will be?!?
BTW - While I have others’ eyes here - I can’t believe that I don’t know this; but what is this “gap insurance” I keep seeing everywhere? I understand the insurance you buy that covers you should you total your car and are upside down on your note. Is that the same thing? Allot of ppl buying it. Can’t say I ever have? But knock on wood, I've never had a wreck or ticket, ever. (KOD there for sure
)
Lastly, since there are hundreds of useless scoring sites out there - where can one go to get a perfectly accurate “FICO Auto 9 Report” before hitting the dealerships?
Thanks.
I never even thought about that aspect before (AAoA) but I may be in the same boat having lived overseas for 5 years and everything fell off my reports (both bad AND good) so despite having had 22 cars in my life, not a single loan shows up on my reports now?!? I’m up to 3 yrs total now, but my AAoA is only 1.6yrs they say. Hmmm... Def food for thought.
Read the past 20 pages and def steering clear of Toyota as they pull only EXP. who are my weakest link. Need a “TU only” dealer or mfg. I'm at 770 now with TU/EQ but god only knows what the real “auto” score will be?!?
BTW - While I have others’ eyes here - I can’t believe that I don’t know this; but what is this “gap insurance” I keep seeing everywhere? I understand the insurance you buy that covers you should you total your car and are upside down on your note. Is that the same thing? Allot of ppl buying it. Can’t say I ever have? But knock on wood, I've never had a wreck or ticket, ever. (KOD there for sure
)Lastly, since there are hundreds of useless scoring sites out there - where can one go to get a perfectly accurate “FICO Auto 9 Report” before hitting the dealerships?
Thanks.
@Anonymous wrote:
@Anonymous. What did they consider “short credit history”?? How'd you get around it in the end?
I never even thought about that aspect before (AAoA) but I may be in the same boat having lived overseas for 5 years and everything fell off my reports (both bad AND good) so despite having had 22 cars in my life, not a single loan shows up on my reports now?!? I’m up to 3 yrs total now, but my AAoA is only 1.6yrs they say. Hmmm... Def food for thought.
Read the past 20 pages and def steering clear of Toyota as they pull only EXP. who are my weakest link. Need a “TU only” dealer or mfg. I'm at 770 now with TU/EQ but god only knows what the real “auto” score will be?!?
BTW - While I have others’ eyes here - I can’t believe that I don’t know this; but what is this “gap insurance” I keep seeing everywhere? I understand the insurance you buy that covers you should you total your car and are upside down on your note. Is that the same thing? Allot of ppl buying it. Can’t say I ever have? But knock on wood, I've never had a wreck or ticket, ever. (KOD there for sure
Lastly, since there are hundreds of useless scoring sites out there - where can one go to get a perfectly accurate “FICO Auto 9 Report” before hitting the dealerships?
Thanks.
GAP "insurance" covers the difference in a total loss versus your pay off amount (aka being underwater or upside down on your loan). I personally have never paid or taken GAP insurance, nor ever needed it but "GAP" is a big money maker for car dealers. If you choose to invest in GAP use your car insurance company/policy and you'll find its much cheaper, you can also always drop it once you pay your loan down rather than pay up front for the life of the loan.
As far as getting a complete Fico Report showing different versions and flavors - right here on this site or if you are satisfied with limit peeks for single scores many credit cards including almost all the majors offer a true FICO score on their sites (Discover, AmEx, NFCU, BoA, Chase, Wells Fargo....etc).
Thanks much @PipeGuy. I actually wrote all that and posted it from my phone but it then gave me multiple errors saying I needed to fix something and to “try again later”. So I finally gave up. Point being, I was just checking my mails and saw your reply and was pleasantly surprised (shocked!) that it did actually post after all. Cool
Anyway. I’m with GEICO and we’ll see what the end numbers tally to and see if I even need GAP coverage. I typically put down allot to keep my payments low ($5k-$12k on a $40k SUV if I’m purchasing) and I too have never taken out gap coverage. But at least now I know for sure what it is should they hit me with it. Thanks.
Re: FICO - I was just reading a Motley Fool article on just how useless all these “free credit” sites really are, as FICO is really the only primary base score used by 90% of all lenders. I was asking about finding the “FICO Auto 9” one, as yes, I too do get my Discover and Wells and Amex FICO scores online or in my paper statements (Mint and Commerce Bank give me ones as well) And while Discover have me at 770, I moan allot about Wells Fargo on here - as they’re literally 6 months behind with updates and balances and my utilization and only have me at 685! Grrrr - Trying to recall Amex? I think they had me around 735 last I checked. But the point Motley and I’m making are, you can see 100 point differences in your scores depending on which software and model is being used. I’m golden with Vantage 3 - but any EXP-based scores are my nemesis. (CapOne comes to mind as they’re my lowest score at 676 but haven’t updated since NOV/2017!) - Conversely Discover treats me like gold and almost matched my Vantage scores. So I dunno?
I saw one post here that’s basically “me” but he’s from Utah. Same income, same scores, same utilization, same amount of credit lines and he got the same deal with MB CPO for 1.99% for 36 months at $223/mo. that I’m currently looking at too. That’s a deal I can sleep easy on. So we’ll see if I can duplicate that here one State over.
Cheers
BB
Anyway. I’m with GEICO and we’ll see what the end numbers tally to and see if I even need GAP coverage. I typically put down allot to keep my payments low ($5k-$12k on a $40k SUV if I’m purchasing) and I too have never taken out gap coverage. But at least now I know for sure what it is should they hit me with it. Thanks.
Re: FICO - I was just reading a Motley Fool article on just how useless all these “free credit” sites really are, as FICO is really the only primary base score used by 90% of all lenders. I was asking about finding the “FICO Auto 9” one, as yes, I too do get my Discover and Wells and Amex FICO scores online or in my paper statements (Mint and Commerce Bank give me ones as well) And while Discover have me at 770, I moan allot about Wells Fargo on here - as they’re literally 6 months behind with updates and balances and my utilization and only have me at 685! Grrrr - Trying to recall Amex? I think they had me around 735 last I checked. But the point Motley and I’m making are, you can see 100 point differences in your scores depending on which software and model is being used. I’m golden with Vantage 3 - but any EXP-based scores are my nemesis. (CapOne comes to mind as they’re my lowest score at 676 but haven’t updated since NOV/2017!) - Conversely Discover treats me like gold and almost matched my Vantage scores. So I dunno?
I saw one post here that’s basically “me” but he’s from Utah. Same income, same scores, same utilization, same amount of credit lines and he got the same deal with MB CPO for 1.99% for 36 months at $223/mo. that I’m currently looking at too. That’s a deal I can sleep easy on. So we’ll see if I can duplicate that here one State over.
Cheers
BB