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Auto Loan Approvals!

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Regular Contributor

Re: Auto Loan Approvals!

APPROVING BANK: Navy FCU
BUREAU PULLED: Equifax
CREDIT SCORE: FICO Auto 5 (582)
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: Used
YEAR OF VEHICLE: 2010
MAKE: Toyota
MODEL: Tundra
MILEAGE: $124,000
FINANCE/LEASE: Finance
PURCHASE PRICE: $17,700
AMOUNT OF LOAN: $15,400, Value $15,100
TERM CONTRACTED: 45 Months
APR/LEASE RATE: 7.09%
MONTHLY PAYMENT: $392
ANNUAL INCOME: $104,000
DEBT TO INCOME RATIO: 11%
MISCELLANEOUS COMMENTARY: I'd just gotten the vehicle financed through Bridgecrest at 22.259% less than a month ago and didn't think I had other options. I threw a hail Mary and NFCU came through big!

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Message 4121 of 4,171
Valued Contributor

Re: Auto Loan Approvals!


@2009_BK7 wrote:

APPROVING BANK: BMW Financial Services
BUREAU PULLED: Experian
CREDIT SCORE: 735 (FICO Auto 8)

SOFT PULL/HARD PULL:  Hard Pull
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: New
YEAR OF VEHICLE: 2019
MAKE: BMW
MODEL: M4cs (ClubSport)
MILEAGE: 33
FINANCE/LEASE: Lease

PURCHASE PRICE: $105,745
AMOUNT OF LOAN: $25,730.28
TERM CONTRACTED: 36 months (30,000 miles)
APR/LEASE RATE: Money Factor .00165 (3.96% APR)
MONTHLY PAYMENT: $714.73 pre-taxed (7% in FL)
ANNUAL INCOME: $116,000 +10% annual bonus
DEBT TO INCOME RATIO: 31.12%
MISCELLANEOUS COMMENTARY: The 3.96% is BMW's lowest top-tier rates. I still have a public BK7 record which is scheduled to drop off this year. My regular FICO score is now 790 (2 weeks after picking up the car) due to paying off some credit cards. The vehicle was discounted by 26.46% with all rebates + dealer/BMWUSA discounts, with a residual of 57%. Who know you could lease a $105,745 car for that little? (relatively speaking of course, most are at least $1,200-$1,500 in lease payments with that MSRP).


Nicely done.  A ton of car for that payment.  You will have lots of fun with it.  I strongly suggest at least one track day.  The performance potential of that car can't be touched unless your on a track.

Message 4122 of 4,171
Valued Contributor

Re: Auto Loan Approvals!


@dytch2220 wrote:
APPROVING BANK: Navy FCU
BUREAU PULLED: Equifax
CREDIT SCORE: FICO Auto 5 (582)
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: Used
YEAR OF VEHICLE: 2010
MAKE: Toyota
MODEL: Tundra
MILEAGE: $124,000
FINANCE/LEASE: Finance
PURCHASE PRICE: $17,700
AMOUNT OF LOAN: $15,400, Value $15,100
TERM CONTRACTED: 45 Months
APR/LEASE RATE: 7.09%
MONTHLY PAYMENT: $392
ANNUAL INCOME: $104,000
DEBT TO INCOME RATIO: Unknown
MISCELLANEOUS COMMENTARY: I'd just gotten the vehicle financed through Bridgecrest at 22.259% less than a month ago and didn't think I had other options. I threw a hail Mary and NFCU came through big!

Congrats on the refi !  What a huge win.  Being in subprime land sucks (been there).  Glad you were able to save a ton of cash on interest costs.

Message 4123 of 4,171
Valued Member

Re: Auto Loan Approvals!

APPROVING BANK: American Honda Finance
BUREAU PULLED: Transunion
CREDIT SCORE: 693

SOFT PULL/HARD PULL:  Dealership Hard pull
CUSTOMER STATE OF RESIDENCE: Connecticut 
NEW/USED: New
YEAR OF VEHICLE: 2019
MAKE: Honda
MODEL: CRV EX
MILEAGE: 10
FINANCE/LEASE: Finance

PURCHASE PRICE: $36121.40
AMOUNT OF LOAN: $21578.77
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 2.9%
MONTHLY PAYMENT: $387.24
ANNUAL INCOME: $150000
DEBT TO INCOME RATIO: 27%
MISCELLANEOUS COMMENTARY: 2 prior auto loans paid off/on time, Traded in Vehicle valued: $9987.00

Message 4124 of 4,171
Contributor

Re: Auto Loan Approvals!

APPROVING BANK:  NFCU
BUREAU PULLED:  Equifax. ****updated****
CREDIT SCORE:   703

SOFT PULL/HARD PULL:   HP
CUSTOMER STATE OF RESIDENCE:  NJ
NEW/USED:   Used
YEAR OF VEHICLE:  2016
MAKE:  Mercedes Benz 
MODEL:  B250e 
MILEAGE:  16000
FINANCE/LEASE:   Finance 

PURCHASE PRICE: $19995
AMOUNT OF LOAN:  $16000
TERM CONTRACTED:  60 mos
APR/LEASE RATE:  5.29%
MONTHLY PAYMENT:  $306
ANNUAL INCOME:  > $80K
DEBT TO INCOME RATIO:  9%
MISCELLANEOUS COMMENTARY:  Was discharged from BK13 yesterday.  Was shocked at instant approval without spouse as co-signer.

 

 

Updated as I finally got the notice for HP.

Message 4125 of 4,171
Regular Contributor

Re: Auto Loan Approvals!

APPROVING BANK: Bethpage FCU
BUREAU PULLED: Experian
CREDIT SCORE: 737

SOFT PULL/HARD PULL:  Hard Pull
CUSTOMER STATE OF RESIDENCE: Georgia
NEW/USED: New
YEAR OF VEHICLE: 2019
MAKE: Ford
MODEL: F150 XLT Sport 4x4
MILEAGE: 181
FINANCE/LEASE: Finance

PURCHASE PRICE: 46,500
AMOUNT OF LOAN: 43,500
TERM CONTRACTED: 96
APR/LEASE RATE: 4.34
MONTHLY PAYMENT: 541
ANNUAL INCOME: 60,000
DEBT TO INCOME RATIO: 22%
MISCELLANEOUS COMMENTARY: Bethpage was super easy to deal with and overnighted the check to dealer. I have been a customer with them for about 10 months...shares acct, draft acct and recently opened money market acct.




Starting scores: 5/15 - EQ: 546 | TU: 580 | EX: 554
Current scores: 2/19 - EQ: 754 | TU: 750 | EX: 746
Message 4126 of 4,171
Valued Member

Re: Auto Loan Approvals!

 
Message 4127 of 4,171
Regular Contributor

Re: Auto Loan Approvals!



APPROVING BANK: Penfed credit union
BUREAU PULLED: Equifax
CREDIT SCORE: FICO 735
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: newy
YEAR OF VEHICLE: 2020
MAKE: BMW
MODEL: M2 Competition
MILEAGE: 9
FINANCE/LEASE: Finance
PURCHASE PRICE: $59445
AMOUNT OF LOAN: $$59,000
TERM CONTRACTED: 60Months
APR/LEASE RATE: 3.99
MONTHLY PAYMENT: $732.58
ANNUAL INCOME: $118,000
DEBT TO INCOME RATIO: 10%
Starting Fico Score: 595
Current Fico Score: 698 as of 3/16
Goal Score: 720's across the board
Message 4128 of 4,171
Established Contributor

Re: Auto Loan Approvals!

APPROVING BANK: BMW Financial Services
BUREAU PULLED: Experian (of course, lowest of the 3)
CREDIT SCORE: 630 

SOFT PULL/HARD PULL:  Hard Pull
CUSTOMER STATE OF RESIDENCE: Florida
NEW/USED: CPO
YEAR OF VEHICLE: 2019
MAKE: BMW
MODEL: X3 M40
MILEAGE: 4500
FINANCE/LEASE: Finance

PURCHASE PRICE: $52,000
AMOUNT OF LOAN: $47,000
TERM CONTRACTED: 60
APR/LEASE RATE: 5.19%
MONTHLY PAYMENT: $900
ANNUAL INCOME: $80,000
DEBT TO INCOME RATIO: 25%
MISCELLANEOUS COMMENTARY: 1 year post Ch. 7 discharge, was happy with the overall process.  Took 2 days to get the deal I wanted, first day I walked and they called me the 2nd day to "negotiate".   Backstory - dealer ordered this vehicle for a customer, but apparently ordered it wrong and ended up having to purchase it.  Service manager has been driving it since.  I got lucky because it had all the packages I wanted - Premium, Executive, Active Driving/Parking Assist, etc Smiley Very Happy

Message 4129 of 4,171
New Contributor

Re: Auto Loan Approvals!


@dursty87 wrote:

APPROVING BANK: BMW Financial Services
BUREAU PULLED: Experian (of course, lowest of the 3)
CREDIT SCORE: 630 

SOFT PULL/HARD PULL:  Hard Pull
CUSTOMER STATE OF RESIDENCE: Florida
NEW/USED: CPO
YEAR OF VEHICLE: 2019
MAKE: BMW
MODEL: X3 M40
MILEAGE: 4500
FINANCE/LEASE: Finance

PURCHASE PRICE: $52,000
AMOUNT OF LOAN: $47,000
TERM CONTRACTED: 60
APR/LEASE RATE: 5.19%
MONTHLY PAYMENT: $900
ANNUAL INCOME: $80,000
DEBT TO INCOME RATIO: 25%
MISCELLANEOUS COMMENTARY: 1 year post Ch. 7 discharge, was happy with the overall process.  Took 2 days to get the deal I wanted, first day I walked and they called me the 2nd day to "negotiate".   Backstory - dealer ordered this vehicle for a customer, but apparently ordered it wrong and ended up having to purchase it.  Service manager has been driving it since.  I got lucky because it had all the packages I wanted - Premium, Executive, Active Driving/Parking Assist, etc Smiley Very Happy


When the dealers order the car, the car belongs to them. If a deal falls through, which happens all the time on special ordered vehicles, the car goes to the lot or goes to auction. It only becomes stressful for the dealer if it fails to sell.

Chase Sapphire Preferred - $8500
Discover it® Card - $8000
AMEX EveryDay - $5000
Chase Freedom - $5000
Capital One QuicksilverOne - $1900
Barclaycard Apple Rewards - $600
Chase Slate - $1500
Capital One Platinum - $500

Lease - Audi Financial Services - $51,567 cur. balance, $55,063 orig. balance, buy rate money factor, MSRP $83,365
Auto Loan - orig. $21000, paid/closed
Installment - FNCU - Secured $1500 paid/closed
Installment - City National New Jersey (Self Lender) - Secured orig. $1000, paid/closed
Installment - Lead Bank (Self Lender) - Secured orig. $545, cur. $413
Equifax - 729
TransUnion - 740
Experian - 752
Message 4130 of 4,171
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