Purchasing a Subaru soon and wanted some feedback

vivekp01 · ‎02-03-2020

As the title states i'm looking into buying a Subaru in February. I'm considering the 2020 Subaru Forester Limited and have started emailing dealers for quotes. The best quote i've gotten is $28,999 + fees putting it around $32,500 out the door. I plan to put down about 15-17K inclusive of taxes and fees and finance the rest (15-17K). Subaru is currently offering 0.9% but iim not sure if i'd qualify as I have no auto loan history.

I was planning on checking out DCU / Pen Fed as outside lenders as well as Subaru. Do you have any other recommendations on lenders? I want to maximize my options as I know the pulls will technically only count as 1 if I run them in a short space of time (please correct me if i'm wrong here). Also any tips on when I go to the dealer to try and maximize financing vs price?

Credit Score: 764 (Experian) 773(Equifax), 752(TransUnion), 766 (Auto Score 8 via Experian), 804 (Auto Score 2 via Experian)

AAoA: I have 2 credit cards. The oldest CC is 18 months old and newest is about 9 months

# of positive trade lines: Don't think CC's qualify due to age of accounts. No auto loans

# of negative trade lines: 0

Income: $88,000

Lenght of Employment: 4.5 years (Same place)

Previous Loan Experience: Student loans only. All paid off couple of years ago with 0 missed payments.

Debt-to-Income (DTI): No rent payment

Year of Car: 2020

Miles: 0

Purchase/Refinance: Purchase

Requested loan term (XX Months): 36/48

Down payment amount: 15-17K inclusive of fees

Co-borrower/Co-Signer: No

Other: No derogatory marks, no late payments

sccredit · ‎02-03-2020

With your scores and the down payment amount I would wager that you will be fine for the promo rate.

Medic981 · ‎02-03-2020

When I leased my Subaru in 2018 the salesman told me that if your FICO is 720 or better I would qualify for the prime rate with Chase who is Subaru's captive lender. With your scores, I believe you would be fine and receive the 0.9% offer.