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Nissan Motor Acceptance Credit

StarraeAday1
Regular Contributor

Nissan Motor Acceptance Credit

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!

Foreclosure - June 2017
Ch. 7 BK - Discharged January 2018
6/2020 - EQ 680 | EX 691 | TU 707
Message 1 of 16
15 REPLIES 15
carFinancepro
Valued Member

Re: Nissan Motor Acceptance Credit

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

Message 2 of 16
MTG-Hunter
Contributor

Re: Nissan Motor Acceptance Credit

carFinancepro- you provide excellent information!!

 

I like other have been helped by you!

 

Thanks!!

Message 3 of 16
carFinancepro
Valued Member

Re: Nissan Motor Acceptance Credit

You're welcome!!

Glad I could help.

Message 4 of 16
StarraeAday1
Regular Contributor

Re: Nissan Motor Acceptance Credit

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?

Foreclosure - June 2017
Ch. 7 BK - Discharged January 2018
6/2020 - EQ 680 | EX 691 | TU 707
Message 5 of 16
carFinancepro
Valued Member

Re: Nissan Motor Acceptance Credit

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.

Message 6 of 16
brewcrew87
Regular Contributor

Re: Nissan Motor Acceptance Credit


@carFinancepro 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.  Smiley Very Happy

Main Cards: CSR(30k), DiscoverIT(50k), Freedom(10.5k), Ink+(17k), SallieMae(17.5k), 3x BoA MLB(24k), 2x BoA BBR(16k) and probably too many other cards at this point...
Current Score:
EQ: ??? TU: 799 EX: 784 - Last Updated 2-2-17 - Last CC App 11/25/16
Message 7 of 16
Sherpani
Established Member

Re: Nissan Motor Acceptance Credit

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 Smiley Happy take care

Message 8 of 16
JohnnyOne
Valued Member

Re: Nissan Motor Acceptance Credit


@Sherpani 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 Smiley Happy 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. Heart

 

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. Smiley Happy

 

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.

 

9/2015 FICO 8, TU/708, EX/693, EQ/689
Last App 9/18/2015
Message 9 of 16
Sherpani
Established Member

Re: Nissan Motor Acceptance Credit

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 Smiley Happy

 

Absolutely love TrueCar. I have used them before with great sucess.

 

Thank you again, best of luck!

 

 

Message 10 of 16
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