for anyone who has recently applied for an auto loan Please share with us your approximate scores when approved? do you have confirmation of which CRA pulled? did you have a BK or discharged BK on your report? Previous auto loan? what finance company did you try to use? was your application in person, or online? any success in dealership financing? Also, Percentage rate offerred length of contract amount financed amount of down payment, if any All, if you don't mind, of course.... this could be very helpful to those of us that will be applying for an auto loan in the near future... Thanks looking forward to driving something other than my '95 minivan
I'll take a stab at them, I bought a truck in 1/02, but just refi'd the truck and my car 5/02: your approximate scores when approved? see below do you have confirmation of which CRA pulled? in January Ford pulled TU, in May CU pulled EXP did you have a BK ? No discharged BK on your report? No Previous auto loan?Yes several what finance company did you try to use?Ford and CU (2 different occasions) was your application in person, or online? in person any success in dealership financing? I was offered the deal they brag about on TV 6.9% for 5 years, however I took the cash back ($2K) cause in the long run it came out to less money and a lower monthly payment Also, Percentage rate offerred9.5% w/cash back in Jan with Ford. In May refi for my 2000 Honda 6.25, 5.75 for my 2002 Ford, they are set rates by the CU based on the year of the car. This CU either approves or denies, there is no counter offer with a higher rate. length of contract Ford-60 months, Honda 48 months amount financed Ford $12.7K, Honda $14.1K amount of down payment, if any Ford NONE, Honda $1500 (I was in neg. equity in the Honda) Try a CU, I thought we only had one credit union in this area, but when I looked it up there are about 10 of them. Very personal service. Also it helps to have previously had an auto loan when it comes to CU's, if you haven't had one try dealer financing.
chase financing at dealer 7% APR 3500 down on $30K (total loan amount) tu score pulled 579 audi a4 1.8T approved by VCI for $41000 (car value) S4 Lease at same time. (pulled equifax and experian, score: 650exp, 665 EFX)
Please share with us your approximate scores when approved? EX 610, TU 699 do you have confirmation of which CRA pulled? Yes did you have a BK or discharged BK on your report? No Previous auto loan? 2, paid in full, one w/lots of 30 day lates what finance company did you try to use? Cap One/People'sfirst was your application in person, or online? Online any success in dealership financing? Didn't try-done that twice before
Sam, impressed with your loan numbers. Thanks all who are giving the info. Plan a new car within 6 months, so an watching carefully.
I'll go too for anyone who has recently applied for an auto loan Please share with us your approximate scores when approved? ScorePower said 728 do you have confirmation of which CRA pulled? Yes, Equifax did you have a BK or discharged BK on your report? No Previous auto loan? yes what finance company did you try to use? NMAC was your application in person, or online? In person any success in dealership financing? yes, NMAC is dealer financing Also, Percentage rate offerred 0.9% length of contract 3 years amount financed total vehicle price minus trade in and minus down payment left around 20k to be financed amount of down payment, if any 5k down Nissan Pathfinder
if you look at my april scores below, my scores were probably worse when I applied for and received an auto loan for a 2001 Suzuki Esteem. The financing company is Arcadia and the interest rate is a horrible 20%. 2 discharged BKs, 1 judgment 1 lien. bought my daughter a 2000 Dogde Neon last month. Used 8700, 1000 down and financed with Crysler Credit at 16.5% As soon as I clear up more of the bad stuff, I plan on trying to refinance my Suzuki.
yeah nicer car dealers, have more "super credit" applications to stack your mediocre credit application with. So with that in mind, you might set your goals a little higher, for a little lower rate. If you go to a kia dealer, they are gonna ram you on the bad credit, since their markup on the car is so menial. Either way in the end you get "stuck", and the dealer gets profits.
Here's my question; I heard that auto inquiries are not counted against your score. All the inq in the world are counted as one if made within a 2 week period. Some kind of a provision to allow for car shopping? How does that work?
