APPROVING BANK: Navy Federal
BUREAU PULLED: Experian
CREDIT SCORE: 715
SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: New
YEAR OF VEHICLE: 2022
MAKE: Hyundai
MODEL: Palisade SE
MILEAGE: 20
FINANCE/LEASE: Finance
PURCHASE PRICE: $44,000
AMOUNT OF LOAN: $39,700
TERM CONTRACTED: 72 months
APR/LEASE RATE: 2.29%
MONTHLY PAYMENT: $592
ANNUAL INCOME: $140,000
DEBT TO INCOME RATIO: 5%
MISCELLANEOUS COMMENTARY: First new car ever, more for the wife but felt great. Navy Federal is awesome
APPROVING BANK: Chase Bank
BUREAU PULLED: Equifax
CREDIT SCORE: 670
SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: TN
NEW/USED: Used
YEAR OF VEHICLE: 2017
MAKE: Audi
MODEL: A3 2.0T Premium
MILEAGE: 49,544
FINANCE/LEASE: Finance
PURCHASE PRICE: $31,296.80
AMOUNT OF LOAN: N/A - Financed at dealership
TERM CONTRACTED: 72 months
APR/LEASE RATE: 7.89%
MONTHLY PAYMENT: $548.83
ANNUAL INCOME: $43,200
DEBT TO INCOME RATIO: 1%
MISCELLANEOUS COMMENTARY: First car ever with single digit financing! Base price was $24,556 with about $5000 worth of warranties and extra $2000 in taxes and fees. I'm super proud of myself; I've come a long way!
APPROVING BANK: Navy Federal
BUREAU PULLED: Transunion
CREDIT SCORE: 771
SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: Used
YEAR OF VEHICLE: 2010
MAKE: Jeep
MODEL: Grand Cherokee
MILEAGE: 151,000
FINANCE/LEASE: Finance
PURCHASE PRICE: $8779
AMOUNT OF LOAN: $7779
TERM CONTRACTED: 60 months
APR/LEASE RATE: 5.49%
MONTHLY PAYMENT: $149.56
ANNUAL INCOME: $20,000
DEBT TO INCOME RATIO: 1%
MISCELLANEOUS COMMENTARY:
Not me but my son. His first auto loan ever. Have been helping him with his credit since junior high. He is 19 not too shabby!
Starting Score: 612
APPROVING BANK: DCU
BUREAU PULLED: Equifax
CREDIT SCORE: 672 (FICO 5)
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: Virginia
NEW/USED: Used (refi)
YEAR OF VEHICLE: 2021
MAKE: Acura
MODEL: RDX A-spec
MILEAGE: 15,600
FINANCE/LEASE: Finance
PURCHASE PRICE: $38,600
AMOUNT OF LOAN: $38,600
TERM CONTRACTED: 65 months
APR/LEASE RATE: 4.99%
MONTHLY PAYMENT: $683
ANNUAL INCOME: $135k (individual)
DEBT TO INCOME RATIO: 20%
MISCELLANEOUS COMMENTARY: Re-finance from Acura Financial -- was 5.9% $774/mo 72-mo term, about 1.5 years in -- so I saved a few bucks and extended my term by a few months. 3-years past BK7 DC, most accounts reporting zero balance, 6% overall UTIL, 18 HPs on EQ before application. Been a member of DCU for two days before application. Great experience!
APPROVING BANK: ACU of Texas
BUREAU PULLED: Experian
CREDIT SCORE: 745
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: TX
NEW/USED: NEW
YEAR OF VEHICLE: 2022
MAKE: Toyota
MODEL: Tacoma
MILEAGE: 26
FINANCE/LEASE: Lease
PURCHASE PRICE: $40000
AMOUNT OF LOAN:
MILES: 15k / year
TERM CONTRACTED: 60Months
APR/LEASE RATE: Tier 1
MONTHLY PAYMENT: $534
ANNUAL INCOME: enough
DEBT TO INCOME RATIO: 5%
MISCELLANEOUS COMMENTARY:
I was in buried in deep with a VW Jetta, I don't have the money to pay the 5k in negative equity so it will be paid through my lease term. I decided to do a lease with a company called D&M Leasing, pretty straightforward process. Kinda weird going thru a CU for a lease, didn't know it was possible. They are very flexible on mileage overages which is something I value. I am overall happy with my purchase other than buying a truck in this gas crisis, coming from a Jetta love the space.
@Gladius wrote:
@lovebackwards wrote:APPROVING BANK: Chase Bank
BUREAU PULLED: Equifax
CREDIT SCORE: 670SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: TN
NEW/USED: Used
YEAR OF VEHICLE: 2017
MAKE: Audi
MODEL: A3 2.0T Premium
MILEAGE: 49,544
FINANCE/LEASE: FinancePURCHASE PRICE: $31,296.80
AMOUNT OF LOAN: N/A - Financed at dealership
TERM CONTRACTED: 72 months
APR/LEASE RATE: 7.89%
MONTHLY PAYMENT: $548.83
ANNUAL INCOME: $43,200
DEBT TO INCOME RATIO: 1%
MISCELLANEOUS COMMENTARY: First car ever with single digit financing! Base price was $24,556 with about $5000 worth of warranties and extra $2000 in taxes and fees. I'm super proud of myself; I've come a long way!7.89 is still high considering your credit score and DTI. Are you a member of a credit union?
Yes, I'm a member of NFCU.
@lovebackwards wrote:
@Gladius wrote:
@lovebackwards wrote:APPROVING BANK: Chase Bank
BUREAU PULLED: Equifax
CREDIT SCORE: 670SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: TN
NEW/USED: Used
YEAR OF VEHICLE: 2017
MAKE: Audi
MODEL: A3 2.0T Premium
MILEAGE: 49,544
FINANCE/LEASE: FinancePURCHASE PRICE: $31,296.80
AMOUNT OF LOAN: N/A - Financed at dealership
TERM CONTRACTED: 72 months
APR/LEASE RATE: 7.89%
MONTHLY PAYMENT: $548.83
ANNUAL INCOME: $43,200
DEBT TO INCOME RATIO: 1%
MISCELLANEOUS COMMENTARY: First car ever with single digit financing! Base price was $24,556 with about $5000 worth of warranties and extra $2000 in taxes and fees. I'm super proud of myself; I've come a long way!7.89 is still high considering your credit score and DTI. Are you a member of a credit union?
Yes, I'm a member of NFCU.
My $0.02, if you were worried about time passi g before refinancing, do not be!
Re-explore your options. Now that you should a car loan on your reports you may be surprised at your options just from doing prequals on CU sights.
I am sure a much lower number of lenders will lean toward a no.
Give it a shot. Lower your rate and your payments!
Edited to add:
View this short thread... Navy Approved Auto Loan with lower score, maybe this could push you to make the decision to refinace.
