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Thanks everyone in myfico. i have tremendously benifited from your advices and insights.
Today, i sealed a deal for a 2013 highlander at 0% with 0 downpayment.
I asked what CB they will pull and they told me all but will pick the best one. I told them to spare me a hardpull and transunion. I pulled myfico transunion score last night , so i knew it was 702. I didnt tell him my score.
And he said Ok. WOOOOW, a wopping 719-Auto enhanced. My first auto financing.
But, i am still nervous. The sales rep came out and said congratulation your score was so good that you can buy anything you want.
But then, The financing manager came out shook my hand and said, "Congratulation, you are approved for the 0% TFS. There was little issue but i did take care of it-=you have a really nice score"
What is that supposed to be?
anyway, i signed up the paper work and they will deliver the car for me in the next couple days.
I will fill the auto approval form for more information.
Congrats. I think tier 1 with TFS is around 680. Only problem with zero down is you are upside down on the loan for quite some time. You should consider gap coverage also. Good job.
@guydiver wrote:Congrats. I think tier 1 with TFS is around 680. Only problem with zero down is you are upside down on the loan for quite some time. You should consider gap coverage also. Good job.
I would be shocked if they did not HIGHLY suggest this... and if you didn't take it, I would go back and sign the papers TO GET IT!!
and as other said putting no down has you little upside down but why put it down if it's 0%!!! but maybe set a little aside knowing you did it this way...
Congrats
Congrats!
Thanks guys.
I picked up my car today and yes Toyota financial approved me. he actually showed me with my score of 719.
i also did purchase the gap insurance at a discounted price.
I would like to know if your score drops after the loan hits the credit reports. I have heard of the score dropping as much as 30 points after taking on a new car loan.
Is this accurate ?
It still did not hit but i will definitely inform you about it. Hopefully its not 30-40 points.
I also added four new cards, AMEX Gold delte and BCP, chase freedom and discover.
So i will take a beating but hope its not really bad.
Anyway i am not to apply for anything so not a big deal
Is applying at the TFS website any different than doing the financing at a Toyota dealership? I am currently looking at Camry because of the 0% financing and the nice College Graduate Program that have as well.