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I'm considering trying to buy a new Nissan Juke. I did some research and it looks like Nissan usually pulls EQ. Is it the regular EQ? Or the auto-enhanced? EQ-8 is 649, and EQ-Auto Score 8 is 672. There's a BK on my report from 2008, and a couple of paid and closed CO's after that time, but nothing outstanding anymore. There are several positive CC’s reporting that have been obtained in the last year. I have an excellent auto history, but only on EQ because that's the only CRA that my CU reports to. I've never bought a new car before, so this is my first time applying with any of the captive lenders and I’m wondering if it’ll happen. I’m also going to get pre-approved with my CU which shouldn’t be a problem, I just wondered if I had a chance with Nissan. Thanks!
I posted this in another thread, hope it helps. Sorry it's not in alphabetical order. The dealer can always negotiate your tier with the bank. If your primary is over 600 they can pull the secondary to see the score for pricing as well (and to see your paid Auto). Once they pull a secondary they stick with it and your tier is what it is. They rely heavily on previous Auto and Mortgage experience to get an idea if you are going to pay them or not. If you are having trouble make sure they see your Equifax (paid Auto) if it's available for your state. And of course cash down plus your debt and payment ratios are factors.
The 2014 and 2015 Juke have special APR's. 36 months at 0% or 48-60 months at 0.9% for tier 7 and up. 72 months at 0.9% for tier 5 and up. Good luck!
For Tiers 1-3 they have 0% financing up to 72 months.
This is for Nissan Motor Acceptance Corp.
Tier 1: 740+
Tier 2: 720-739
Tier 3: 700-719
Tier 4: 680-699
Tier 5: 660-679
Tier 6: 640-659
Tier 7: 620-639
Tier 8: 600-619
Tier 9: <600
Format:
State
Primary
Secondary
CREDIT BUREAU
NAME
SCORE
Equifax
FACTA Beacon 09 Auto
TransUnion
FICO 08 Auto
Experian
Experian/Fair Isaac Auto Loan Model V8
Alabama
Equifax
Experian
Montana
Equifax
Experian
Alaska
Experian
Equifax
Nebraska
TransUnion
Equifax
Arizona
Equifax
Experian
Nevada
Equifax
Experian
Arkansas
TransUnion
Equifax
New Hampshire
TransUnion
Experian
California
Experian
Equifax
New Jersey
TransUnion
Experian
Colorado
TransUnion
Experian
New Mexico
Equifax
Experian
Connecticut
TransUnion
Experian
New York
Equifax
Experian
Delaware
TransUnion
Experian
North Carolina
Equifax
Experian
District of Columbia
Equifax
TransUnion
North Dakota
TransUnion
Experian
Florida
Equifax
Experian
Ohio
Equifax
TransUnion
Georgia
Equifax
Experian
Oklahoma
TransUnion
Equifax
Hawaii
Equifax
Experian
Oregon
Equifax
Experian
Idaho
Equifax
Experian
Pennsylvania
TransUnion
Experian
Illinois
TransUnion
Equifax
Rhode Island
TransUnion
Experian
Indiana
TransUnion
Equifax
South Carolina
Equifax
TransUnion
Iowa
TransUnion
Equifax
South Dakota
Equifax
Experian
Kansas
TransUnion
Equifax
Tennessee
Equifax
Experian
Kentucky
Equifax
TransUnion
Texas
TransUnion
Equifax
Louisiana
Equifax
Experian
Utah
Equifax
Experian
Maine
TransUnion
Experian
Vermont
TransUnion
Experian
Maryland
Equifax
Experian
Virginia
Equifax
Experian
Massachusetts
TransUnion
Experian
Washington
Equifax
Experian
Michigan
TransUnion
Experian
West Virginia
TransUnion
Equifax
Minnesota
TransUnion
Equifax
Wisconsin
TransUnion
Equifax
Mississippi
Equifax
TransUnion
Wyoming
Experian
Equifax
Missouri
Equifax
TransUnion
carFinancepro- you provide excellent information!!
I like other have been helped by you!
Thanks!!
You're welcome!!
Glad I could help.
Thank you for that information! But if I'm in Tier 5 or 6, what does that mean? What rate could I reasonably expect? I can negotiate, but I want to be reasonable about it. My current car loan is at 5.99% with my CU, and I should have an answer today as to what their rate would be on a new vehicle, but I would expect 5-6%. Can I get better than that from Nissan, or am I wasting everyone's time?
You will get better rates through Nissan! The special rates are a tool to sell cars.
Tier 4,5,6 and 7 will yield 0.9% for 60 months. If you want to go 72 months at that rate they will require a tier 4 or 5. Don't commit to anything that isn't subject to them getting you the special financing rate. Tell them upfront what you are looking to do so the finance office knows. Their first priority is to sell the car.
@Anonymous wrote:
The 2014 and 2015 Juke have special APR's. 36 months at 0% or 48-60 months at 0.9% for tier 7 and up. 72 months at 0.9% for tier 5 and up. Good luck!
For Tiers 1-3 they have 0% financing up to 72 months.
This is for Nissan Motor Acceptance Corp.
Tier 1: 740+
Tier 2: 720-739
Tier 3: 700-719
Tier 4: 680-699
Tier 5: 660-679
Tier 6: 640-659
Tier 7: 620-639
Tier 8: 600-619
Tier 9: <600
First of all, thanks for the VERY useful information.
My wife and I are looking to replace her vehicle within the next few weeks (I upgraded mine around the start of the year). Do you happen to know if on a joint application they will base the rate on the higher or the lower score? My scores would easily now get me in the Tier 2 level (maybe even Tier 1 - haven't updated my TU Auto scores in a while), but my wife is right on the cusp of either Tier 4 or Tier 3.
Obviously, we would love to qualify for the 0% APR for 72 months (will probably end up paying a lot extra so it is paid off well in advance of 72 months, like I am doing with mine, but the flexibility of the 72 months and lower payments are definitely helpful). I would like to have a joint application (or even just her name) to improve her scores in the long run. Her reports are relatively thin with only student loans and a few new CCs.
I kinda of wish I waited a few months to upgrade my vehicle... At the time of my purchase, my TU auto scores were in the mid 600's so I received a 5.24% APR for 72 months from Ally bank for my Chevy... Refinance from DCU probably in my future - but she is driving a 9 year old Malibu.. I need to get her a little something nicer to drive.
carFinancepro - this truly looks to be good information. Where did you get this from? Do you work in Nissan finance or previously have? Friend or co-worker perhaps?
is this special financing tier structure typical of the special financing Nissan offers throughout the year? I am considering a 2015 Nissan Rogue. Nissan has special financing available for the month of September on this model. I have a EQ:675 / TU:681 / EX:691 w/ no bads. 2 previous car loans paid, zero late payments ever.
Thank you for the posts.btw take care
@Anonymous wrote:carFinancepro - this truly looks to be good information. Where did you get this from? Do you work in Nissan finance or previously have? Friend or co-worker perhaps?
is this special financing tier structure typical of the special financing Nissan offers throughout the year? I am considering a 2015 Nissan Rogue. Nissan has special financing available for the month of September on this model. I have a EQ:675 / TU:681 / EX:691 w/ no bads. 2 previous car loans paid, zero late payments ever.
Thank you for the posts.btw take care
I know your question isn't for me but I just purchased Rogue yesterday and thanks to CarFinancePro's post, I knew to ask the financing guy if he is willing to bump me up a tier or two to get that 0% interest rate "before" I talk about numbers with salesman, after "closer" came in? I mentioned to him about bump me up couple of tier, sure enough, after just few short mins? He said "FINE" ... So the payment went from 495/6% to 427/0%. Tho not saying they won't lower the interest rate bit more on their own, but I highly doubt it would be at 0%. So I saved 68 dollars per months just because CarFinancePro decided to share what he know.
The score they pulled was regular FICO 8 EX 689, I have three paid tax liens and I was surprised they didn't ask for income verification.
Good luck with your purchase.
E-T-A ... I used TruCar to narrow down which dealerships would offer better deal, the best discount I got was 3900 off but I end up going to one wih 3300 off with exact specs I was looking for, they end up discounted close to 4200 off MSRP and 0%...I in NorCal.
First Johnny Id like to thank you for your story. Im glad you decided to reply to my post. Very helpful information indeed. I hope you enjoy for Rogue
Absolutely love TrueCar. I have used them before with great sucess.
Thank you again, best of luck!