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APPROVING BANK: TD Bank
BUREAU PULLED: All 3
CREDIT SCORE: 750 Middle Score (Auto 8)
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED Used
YEAR OF VEHICLE: 2015
MAKE: Ford
MODEL: F-150 Supercab
Trim: XLT
MILEAGE: 20,000
FINANCE/LEASE: F
PURCHASE PRICE: 18,000
AMOUNT OF LOAN: 18,000
TERM CONTRACTED: 72
APR/LEASE RATE: 5.79
MONTHLY PAYMENT: 297
ANNUAL INCOME: $82,000
DEBT TO INCOME RATIO: 28%
MISCELLANEOUS COMMENTARY: Wife and I signed together as her Auto 8 is slightly higher than mine. I would not normally finance something 5 years old but with that mileage (it was an older man who just never drive it much other than a trip to the store and kept it in a garage) and at that price, plus the fact it is literally in mint condition, I thought I would be stupid not to avoid the depreceation on something that still has another 15 years left in it. We paid for a 2 year/24,000 mile warrenty out of pocket with the Ford Dealership just to cover us.
3/12/2020
Refi - Charlotte Metro FCU
7.8 to 2.47% 60mths
2019 Nissan Armada Platinum
APPROVING BANK: Honda Finance
BUREAU PULLED: Equifax
CREDIT SCORE: 683 me, 812 dh
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: AL
NEW/USED New
YEAR OF VEHICLE: 2019
MAKE: Honda
MODEL: CR-V
Trim: EXL
MILEAGE: 2
FINANCE/LEASE: F
PURCHASE PRICE: 28,000
AMOUNT OF LOAN: 25500
TERM CONTRACTED: 60
APR/LEASE RATE: 2.9
MONTHLY PAYMENT: 453
ANNUAL INCOME: $99,000 Combined
DEBT TO INCOME RATIO: unknown
MISCELLANEOUS COMMENTARY: We just paid off our HELOC from a necessary kitchen renovation. We were not in the position to absolutely have to buy a new car, but a little bit of research turned into a deal that we couldn't pass up. We were given $2500 on our trade, which was $500+ over KBB.
APPROVING BANK: Capital One
BUREAU PULLED: All 3
CREDIT SCORE: 670-680
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: NJ
NEW/USED: Used
YEAR OF VEHICLE: 2017
MAKE: Kia
MODEL: Sorento
MILEAGE: 41500
FINANCE/LEASE: Finance
PURCHASE PRICE: $17270
AMOUNT OF LOAN: $18033
TERM CONTRACTED: 48 Months
APR/LEASE RATE: 4.42%
MONTHLY PAYMENT: $393
ANNUAL INCOME: $72k
DEBT TO INCOME RATIO: 25%
MISCELLANEOUS COMMENTARY: Car was purchased through Carvana (great experience for anyone curious, and will most likely never buy new or go to a dealership again) and financed through Capital One. I don't have the best scores since there are still two charge offs on my Credit Report that are due to fall off in a few months, but I have excellent recent (~2+ years) payment history since starting my rebuild. I carry virtually no CC debt and figured would give it a shot at a loan. Chose Cap 1 first because they helped me start my rebuild, and was pretty surprised at the rate they offered, so I jumped on it.
APPROVING BANK: Ford Motor Credit
BUREAU PULLED: Experian, Equifax
CREDIT SCORE: 622, 625
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: AL
NEW/USED New
YEAR OF VEHICLE: 2020
MAKE: Ford
MODEL: F-150 Supercab
Trim: XLT
MILEAGE: 27
FINANCE/LEASE: F
PURCHASE PRICE: 45,190
AMOUNT OF LOAN: 52,297
TERM CONTRACTED: 72
APR/LEASE RATE: 2.9
MONTHLY PAYMENT: 763
ANNUAL INCOME: $83,500
MISCELLANEOUS COMMENTARY: Filed Chapter 7 in August 2019 due to enormous medical bills. Purchased 2019 Nissan Altima in October 2019 prior to discharge in November 2019 with 20.83% APR. My scores prior to discharge were TU - 472, EQ - 485, EX - 492. Payments were $733/monthly.
After making 5 payments and paying more than the note and getting nowhere on the loan, I read on here that Ford Credit was bk friendly. Having nothing to lose, I called my local Ford dealer, was able to strike a deal, and get out from under the high interest of that car. Even though I was upside down, they were able to make it work. While I know my score will take a hit in the short term, I'm looking at long term strategy plus I've repeatedly heard that if you do right by Ford, they'll buy you forever.
APPROVING BANK: Ford Motor Credit
BUREAU PULLED: TU Auto8
CREDIT SCORE: 731
SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2020
MAKE: Ford
MODEL: Fusion SE
MILEAGE: 9
FINANCE/LEASE: Finance
PURCHASE PRICE: $ 24,995
AMOUNT OF LOAN: $32,009 incl gap, service, and negative equity from old car.
TERM CONTRACTED: 72
APR/LEASE RATE: 0%
MONTHLY PAYMENT: $444
ANNUAL INCOME: $42,500
DEBT TO INCOME RATIO: ~33%
MISCELLANEOUS COMMENTARY: I was able to roll some of negative equity from my old car into this. Along with some incentives, including retail cash and recent student graduation money from Ford. I was completely surprised that I qualified for the 0% financing.
@Schoolbuskid wrote:Credit to MarvBear for an excellent idea on another forum; this thread is to be used for your Auto Loan Approvals just copy and paste!
APPROVING BANK: Desert Financial (Arizona)
BUREAU PULLED: EX
CREDIT SCORE: 740SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: Arizona
NEW/USED: Used
YEAR OF VEHICLE: 2016
MAKE: Cadi
MODEL:
MILEAGE: 37K
FINANCE/LEASE: RefiPURCHASE PRICE: 25,500
AMOUNT OF LOAN: 25,500
TERM CONTRACTED: 60
APR/LEASE RATE: 3.79
MONTHLY PAYMENT: 425
ANNUAL INCOME: 100K
DEBT TO INCOME RATIO: 30%
MISCELLANEOUS COMMENTARY: Easy process however, they reported to CB's very fast (10 Days) even before my old loan was paid off but it finally reported Pd/O.. ...all Good. my old loan was upside down and I thought no one would touch me but they did and gave me a heg of a good rate. Very Cool. I'm happy with the rate reduction and payment.
Message Edited by Schoolbuskid on 05-31-2008 09:46 AM
If it was upside down it wouldn't matter since you obviously put the cash down since your loan amount was same as purchase price and there's no rebates on used cars.
APPROVING BANK: Chrysler Capital
BUREAU PULLED: Ex/Tu
CREDIT SCORE: 775
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: Nee
YEAR OF VEHICLE: 2020
MAKE: Ram
MODEL: 1500 Limited
MILEAGE: 2
FINANCE/LEASE: F
PURCHASE PRICE: 68,450
AMOUNT OF LOAN: 78,000
TERM CONTRACTED: 84
APR/LEASE RATE: 0%
MONTHLY PAYMENT: 928
ANNUAL INCOME: 145000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: had some negative equity in my Silverado from a previous mess and what better way to handle negative equity than to make the bank hold it at 0%? 👍🏻
APPROVING BANK: Digital Credit Union
BUREAU PULLED: TU/EX
CREDIT SCORE: 772
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: new/refi
YEAR OF VEHICLE: 2019
MAKE: Nissan
MODEL: altima SL
MILEAGE: 3000
FINANCE/LEASE: F
PURCHASE PRICE: 28500
AMOUNT OF LOAN:28500
TERM CONTRACTED: 60
APR/LEASE RATE: 2.49%
MONTHLY PAYMENT: 475
ANNUAL INCOME: 145000
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: financed with Dealer at 4% to negotiate better price, refinanced 3 months later - DCU is great!