Auto Loan Approvals!

[sccredit]

APPROVING BANK: California Coast Credit Union
BUREAU PULLED: Experian
CREDIT SCORE: Me 715/900, DW 862/900

SOFT PULL/HARD PULL:  Hard
CUSTOMER STATE OF RESIDENCE: California
NEW/USED: New
YEAR OF VEHICLE: 2021
MAKE: Ford
MODEL: Ranger
MILEAGE: 150
FINANCE/LEASE: Finance

PURCHASE PRICE: $37,355
AMOUNT OF LOAN: $36,366.75
TERM CONTRACTED: 75
APR/LEASE RATE: 2.48
MONTHLY PAYMENT: $524
ANNUAL INCOME: $130k
DEBT TO INCOME RATIO: 10%
MISCELLANEOUS COMMENTARY: Contracted 75 months because it was the same rate from 37 to 75 months. Wanted a lower payment showing for DTI purposes but will pay off in 36 months or less. Financed amount is purchase price plus TT&L of $4k minus $5k down.

[Anonymous]

APPROVING BANK: BMW Financial Services 
BUREAU PULLED: Transunion 
CREDIT SCORE: BMW only checked Transunion and it was FICO 08 740

SOFT PULL/HARD PULL:  Hard
CUSTOMER STATE OF RESIDENCE: New Mexico 
NEW/USED: New
YEAR OF VEHICLE: 2022
MAKE: BMW
MODEL: 235i
MILEAGE: 22
FINANCE/LEASE: Finance

PURCHASE PRICE: $41600
AMOUNT OF LOAN: $31,000 ( I had a lot of equity in my current car )
TERM CONTRACTED: 72 ( Will payoff in 3 years or less )
APR/LEASE RATE: 1.99
MONTHLY PAYMENT: $460.57
ANNUAL INCOME: $77,000
DEBT TO INCOME RATIO: They did not tell me but I would guess under 10%

I had a ton of equity in my current trade in and they offered me an insane amount of money for my 2015 Mustang Ecoboost. Could not pass the offer up. Used car prices are insane right now which is why I bought new. 

[DarkKnight_Credit]

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@Anonymous wrote:

APPROVING BANK: BMW Financial Services 
BUREAU PULLED: Transunion 
CREDIT SCORE: BMW only checked Transunion and it was FICO 08 740

SOFT PULL/HARD PULL:  Hard
CUSTOMER STATE OF RESIDENCE: New Mexico 
NEW/USED: New
YEAR OF VEHICLE: 2022
MAKE: BMW
MODEL: 235i
MILEAGE: 22
FINANCE/LEASE: Finance

PURCHASE PRICE: $41600
AMOUNT OF LOAN: $31,000 ( I had a lot of equity in my current car )
TERM CONTRACTED: 72 ( Will payoff in 3 years or less )
APR/LEASE RATE: 1.99
MONTHLY PAYMENT: $460.57
ANNUAL INCOME: $77,000
DEBT TO INCOME RATIO: They did not tell me but I would guess under 10%

I had a ton of equity in my current trade in and they offered me an insane amount of money for my 2015 Mustang Ecoboost. Could not pass the offer up. Used car prices are insane right now which is why I bought new. 

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Congratulations on your new BMW! I'm currently looking to buy a brand new one next month. I'm excited and can't wait to buy my first brand new car. My score is similar to yours. That's a good rate! I'm wondering whether BMWFS gave you the highest tier? Because I'm seeing APR as low as 0.9%. I don't know whether those kind of offers is in your area, though.

[Anonymous]

@DarkKnight_Credit 

Thanks!! 

I was approved for Teir 1. Whatever that means. The dealer quoted me 2.99% but when I was in the finance office I talked the very nice guy down to 1.99%. It saved me $800 or so in interest just the one point. I love the car so far. It's faster than my stang!! 

[DarkKnight_Credit]

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@Anonymous wrote:

@DarkKnight_Credit 

Thanks!! 

I was approved for Teir 1. Whatever that means. The dealer quoted me 2.99% but when I was in the finance office I talked the very nice guy down to 1.99%. It saved me $800 or so in interest just the one point. I love the car so far. It's faster than my stang!! 

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Thanks for the information! That's really good that you were able to get them to down as low as 1.99%. That does make a good difference in interest payments. Glad you're enjoying your new ride.

[jcooks]

I did most of the leg work for my GF to get a vehicle.  She lost hers during the heavy rain we had during the Hurricane 2 weeks ago.  I don't have most of the info, but I will fill out what I can.

APPROVING BANK: Capital One
BUREAU PULLED: ???
CREDIT SCORE: 798

SOFT PULL/HARD PULL:  Hard
CUSTOMER STATE OF RESIDENCE: NJ
NEW/USED: Used

YEAR OF VEHICLE: 2017
MAKE: Lexus
MODEL: RX350
MILEAGE: 69k
FINANCE/LEASE: Finance

PURCHASE PRICE: ~$30k
AMOUNT OF LOAN: ~$23,000
TERM CONTRACTED: 75
APR/LEASE RATE: 2.65%
MONTHLY PAYMENT: $388
ANNUAL INCOME: $70k
DEBT TO INCOME RATIO: 0%
MISCELLANEOUS COMMENTARY: Got her pre-approved via the Capital One Auto Navigator, saw she had a very good APR for most of the vehicles that we were looking at.  I found one, did research on carfax and we made an offer of 35k OTD.  They emailed me back and said yes.  We went and checked it out, found all 4 rims to be heavily curb rashed and front tires are relatively worn and had some body paint chips here and there.  We talked them down to redo'ing all 4 rims and 34k OTD.  Her goal was for $400/mo and the 35k OTD was at that range.  So we are happy.  I don't have the paperwork so I'm going off of memory.

[Anonymous]

APPROVING BANK: Toyota Financial Services
BUREAU PULLED: Experian
CREDIT SCORE: 821

SOFT PULL/HARD PULL:  Hard
CUSTOMER STATE OF RESIDENCE: PA
NEW/USED: New
YEAR OF VEHICLE: 2021
MAKE: Toyota
MODEL: Tacoma TRD
MILEAGE: 3
FINANCE/LEASE: Finance

PURCHASE PRICE: $52,500
AMOUNT OF LOAN: $43,000
TERM CONTRACTED: 48 Mo
APR/LEASE RATE: 2.45%
MONTHLY PAYMENT: $1000
ANNUAL INCOME: $120k
DEBT TO INCOME RATIO: 36%
MISCELLANEOUS COMMENTARY: Interest rate :

[Jetiquette]

APPROVING BANK: Delta Community Credit Union
BUREAU PULLED: TransUnion
CREDIT SCORE: 775

SOFT PULL/HARD PULL:  Hard
CUSTOMER STATE OF RESIDENCE: GA
NEW/USED: NEW
YEAR OF VEHICLE: 2022
MAKE: BMW
MODEL: X3 M40i
MILEAGE: 1
FINANCE/LEASE: Finance

PURCHASE PRICE: $61,022 ($66,490 MSRP) PRE-TAX
AMOUNT OF LOAN: $46,000
TERM CONTRACTED: 72 Mo
APR/LEASE RATE: 2.38%
MONTHLY PAYMENT: $686
ANNUAL INCOME: $107K
DEBT TO INCOME RATIO: 7%
MISCELLANEOUS COMMENTARY: BMW Financial was unable to provide a better rate. Quoted from 2.99% to 6% (yeah right haha). Emailed 40+ dealers before I was able to obtain a 9% discount. Decided to go with 72 month payment over 60 month (at 1.9%) to keep DTI lower. 

[Anonymous]

APPROVING BANK: Ford Motor Credit
BUREAU PULLED: Equifax 
CREDIT SCORE: 

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: VA
NEW/USED: New
YEAR OF VEHICLE: 2021
MAKE: Ford
MODEL: F-150 XLT w/ 302A Sport Package 4x4 2.7L 
MILEAGE: 46
FINANCE/LEASE: Financed

PURCHASE PRICE: $50,458 (including taxes + add ons)
AMOUNT OF LOAN: $50,458
TERM CONTRACTED: 72 months
APR/LEASE RATE: 0 !!!!!!!
MONTHLY PAYMENT: $700.81
ANNUAL INCOME: $127k
DEBT TO INCOME RATIO: avg
MISCELLANEOUS COMMENTARY: Went to dealership with Cap1 preapproval for 6% interest. Was also trading in 2018 Silverado so had some equity, plus I put down 10% down payment. Anything is possible!

[Loquat]

@Anonymous Congrats on your new truck.  The F150 is a nice machine.  Very nice that you were also able to get it done with 0% financing.  A win all the way around.  Enjoy your new set of wheels!