Auto Loan Approvals!

[seattletravels]

APPROVING BANK: JP Morgan Chase/Jaguar Financing
BUREAU PULLED: Equifax
CREDIT SCORE: 795

SOFT PULL/HARD PULL: I assume HP but haven't received alert yet.
CUSTOMER STATE OF RESIDENCE: WA
NEW/USED: New
YEAR OF VEHICLE: 2020
MAKE: Jaguar
MODEL: E-Pace
MILEAGE: 32
FINANCE/LEASE: Finance

PURCHASE PRICE: $56K
AMOUNT OF LOAN: $64K
TERM CONTRACTED: 72 mo
APR/LEASE RATE: 0%
MONTHLY PAYMENT: $893
ANNUAL INCOME: $250K
DEBT TO INCOME RATIO: 5%
MISCELLANEOUS COMMENTARY: With 0٪ 72 mo was a no brainer for me, though I expect to pay off much sooner.

[seattletravels]

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@seattletravels wrote:

APPROVING BANK: JP Morgan Chase/Jaguar Financing
BUREAU PULLED: Equifax
CREDIT SCORE: 795

SOFT PULL/HARD PULL: I assume HP but haven't received alert yet.
CUSTOMER STATE OF RESIDENCE: WA
NEW/USED: New
YEAR OF VEHICLE: 2020
MAKE: Jaguar
MODEL: E-Pace
MILEAGE: 32
FINANCE/LEASE: Finance

PURCHASE PRICE: $56K
AMOUNT OF LOAN: $64K
TERM CONTRACTED: 72 mo
APR/LEASE RATE: 0%
MONTHLY PAYMENT: $893
ANNUAL INCOME: $250K
DEBT TO INCOME RATIO: 5%
MISCELLANEOUS COMMENTARY: With 0٪ 72 mo was a no brainer for me, though I expect to pay off much sooner.

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It was 2 HP on EQ. One from Jag dealer, one from Chase.

[Anonymous]

APPROVING BANK: JP Morgan Chase/Subaru Financing
BUREAU PULLED: Equifax
CREDIT SCORE: ~630-640

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: Certified Pre-Owned
YEAR OF VEHICLE: 2020
MAKE: Subaru
MODEL: Forester Premium
MILEAGE: 3600 (Demo/Loaner)
FINANCE/LEASE: Finance

PURCHASE PRICE: $23,900 OTD
AMOUNT OF LOAN: $16,900
TERM CONTRACTED: 64 mo (see notes)
APR/LEASE RATE: 4.49%
MONTHLY PAYMENT: $298
ANNUAL INCOME: $50K
DEBT TO INCOME RATIO: <1% (prior to taking out loan, of course)
MISCELLANEOUS COMMENTARY: Loan is actually for $18,800, but I had negotiated rate with finance office on purchase of extended warranty for 72 month term, which gave me a payment I was happy with. Cancelled warranty shortly after to refund full amount to principal which results in effectively shorter contracted term (64 months).

Happy with it being through Chase, which makes managing and monitoring payments easy for me. With my $7K down payment the best I was getting from other banks was around 6-6.5%. Satisfied with rate given I'm still rebuilding and this is my first time financing an automobile purchase (drove my first car for a very long time).

[Anonymous]

APPROVING BANK: Ford Motor Credit
BUREAU PULLED: EQ
CREDIT SCORE: 696

SOFT PULL/HARD PULL:  Hard
CUSTOMER STATE OF RESIDENCE: Wa
NEW/USED: New
YEAR OF VEHICLE: 2020
MAKE: Ford
MODEL: Mustang GT
MILEAGE: 7
FINANCE/LEASE: Finance

PURCHASE PRICE: 49,170
AMOUNT OF LOAN: 47,200
TERM CONTRACTED: 72
APR/LEASE RATE: 0%
MONTHLY PAYMENT: 656
ANNUAL INCOME: 68K
MISCELLANEOUS COMMENTARY: One baddie (Medical Bill I'm fighting for $370), and a BK back in 2013.

[acevesf]

Curious is Ford motor credit more lenient when it comes to financing?

Been looking at GMC and every dealer tells me that they require 800* to qualify for 0%

[sccredit]

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@acevesf wrote:

Curious is Ford motor credit more lenient when it comes to financing?

Been looking at GMC and every dealer tells me that they require 800* to qualify for 0%

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They are lying to you. Not a single captive requires 800+ for promo financing.

[Mv350]

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@acevesf wrote:

Curious is Ford motor credit more lenient when it comes to financing?

Been looking at GMC and every dealer tells me that they require 800* to qualify for 0%

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I'm not sure about GMC, but I just financed with Ford, from what I remember, they said 670+ for 0% I was approved at 731 TU Auto8 enhanced. 

[Dj4Money]

 I don't know if people know this, but you can get pre-approval from Ford Credit.  You can apply online or over the phone.

 I am not aware of the requirement of more than Tier 2 to get promotional rates. That is the whole point. The people locked out are those below 670, but that's not to say some proding from high volume dealers won't get somebody below 670 in, especially if they have had a car with a captive already. 

[acevesf]

@Dj4Money do you have a link? Where I went it looks like a full blown credit app 

[kaylord84]

APPROVING BANK: DCU
BUREAU PULLED: EQ05 (Mortgage)
CREDIT SCORE: 706

SOFT PULL/HARD PULL: Hard 
CUSTOMER STATE OF RESIDENCE: IL 
NEW/USED: USED
YEAR OF VEHICLE: 2014
MAKE: Chevy 
MODEL: Impala
MILEAGE:90k
FINANCE/LEASE: FINANCE

PURCHASE PRICE: $17k refinance
AMOUNT OF LOAN: $17K refinance
TERM CONTRACTED: 65
APR/LEASE RATE: 2.74%
MONTHLY PAYMENT: $285
ANNUAL INCOME: $144K
DEBT TO INCOME RATIO: 30%

Refinance my vehicle with a payment of $351 @ 6.69% to lower my dti for a investment property mortgage.  I also was approved to refinance my current motorcycle I have with DCU that's at 7.5% reduced to 5.49% . And I refinanced my 2nd motorcycle loan I have with Navy Federal that's at 9.99% reduced to 5.49% as well!!!