Auto Loan Approvals

[jrands]

No problem. Not sure if you're with BCU, but thr Vantage score available to customers is Version 3.0. Version 4.0 is used by BCU itself for loan purposes other than mortgages from my understanding. For mortgages, BCU follows the industry standard of FICO 3/4.

[Strepthroat]

APPROVING BANK: Nissan
BUREAU PULLED: Equifax
CREDIT SCORE:760

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE:  GEORGIA
NEW/USED: New
YEAR OF VEHICLE: 2024
MAKE: Nissan
MODEL: PATHFINDER PLATINUM AWD
MILEAGE: 8
FINANCE/LEASE: Finance

PURCHASE PRICE: MSRP 55,380
AMOUNT OF LOAN: 50,120
TERM CONTRACTED: 60
APR/LEASE RATE: 2.9
MONTHLY PAYMENT: 867
ANNUAL INCOME: 163K
DEBT TO INCOME RATIO: 20%
MISCELLANEOUS COMMENTARY: 

Choice between the QX60 Luxe and  Pathifnder Platinum. The exterior body style of the QX60 was underwhelming. I was expecting a more dramatic change, like the Pathfinder. When I saw the Pathfinder in the two-tone color combo I wanted, the choice was made for me😀.

[JbroCLT]

APPROVING BANK: Penfed
BUREAU PULLED: Equifax
CREDIT SCORE:646

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE:  North Carolina
NEW/USED: Used
YEAR OF VEHICLE: 2022
MAKE: Tesla
MODEL: Model S Plaid
MILEAGE: 24k
FINANCE/LEASE: Finance

PURCHASE PRICE: 75,000
AMOUNT OF LOAN: 75,563.50
TERM CONTRACTED: 60
APR/LEASE RATE: 10%
MONTHLY PAYMENT: $1641
ANNUAL INCOME: 305k
DEBT TO INCOME RATIO: <5%
MISCELLANEOUS COMMENTARY: 

5 year old collections of $32k from 3 companies on my account (2 charged off, one 25k still on collections). Paid them off to my ex wife who pocketed the money instead so just gonna let them fall off at this point. Never late on auto payments, 2x 30 day late CC payments from 2021 and one 12 month old $14 30+ late payment (thought I had auto draft on and just kind of forgot).

I know the interest rate is terrible but I'm going to pay $3-$4k a month on it, to pay off quicker, I just wanted to get some higher credit lines.my current car was only $40k financed because I put $30k down on it. 

[msml_2020]

APPROVING BANK: Subaru (JP Morgan Chase)
BUREAU PULLED: Experian
CREDIT SCORE: 655

SOFT PULL/HARD PULL: Hard
CUSTOMER STATE OF RESIDENCE: Arkansas
NEW/USED: New
YEAR OF VEHICLE: 2024
MAKE: Subaru
MODEL: Crosstrek Sport
MILEAGE: 4
FINANCE/LEASE: Finance

PURCHASE PRICE: $37,000
AMOUNT OF LOAN: $33,000
TERM CONTRACTED: 72 mos
APR/LEASE RATE: 7%
MONTHLY PAYMENT: $662
ANNUAL INCOME: $103,000
DEBT TO INCOME RATIO: 16%
MISCELLANEOUS COMMENTARY:  This was an emergency purchase as the transmission on our 2019 Toyota Highlander failed, and transmissions are currently on indefinite backorder.  It was our only vehicle, and our extended warranty would only cover a rental for 30 days.  The Highlander went to the dealer on 4/1, and it's still there awaiting a transmission.  Used car rates were much higher than new, so we opted for a new Crosstrek.  We were 4 years, 3 months, out of Chap 7 and were ecstatic to get a 7% rate.  

[theeurotuner]

APPROVING BANK: NAVY FEDERAL
BUREAU PULLED: TRANSUNION
CREDIT SCORE: 808

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: FLORIDA
NEW/USED: NEW
YEAR OF VEHICLE: 2024
MAKE: BMW
MODEL: M2
MILEAGE: 10
FINANCE/LEASE: FINANCE

PURCHASE PRICE:
AMOUNT OF LOAN: 70,000
TERM CONTRACTED: 72 Months
APR/LEASE RATE: 5.29
MONTHLY PAYMENT: 1140
ANNUAL INCOME: 260k
DEBT TO INCOME RATIO:
MISCELLANEOUS COMMENTARY: Instant approval, mailing check. Easy experience

[Mdowning30]

@msml_2020 Not a bad excuse but still could have done better getting a slightly older used Toyota, that would have a  reliable transmission. It seems the newest cars/trucks within the last 5-10 years transmissions arent lasting half as long as prior models. You actually have a higher car note compared to buying used. When i mean used i mean like 6+ years old. Im positive my 2015 Camry has a better transmission than "newer" model these days.

[Cjaysmom]

APPROVING BANK: JPMC
BUREAU PULLED: TRANSUNION
CREDIT SCORE: 803

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: Massachusetts
NEW/USED: NEW
YEAR OF VEHICLE: 2024
MAKE: TESLA
MODEL: MYLR
MILEAGE: 11
FINANCE/LEASE: FINANCE

PURCHASE PRICE: $55,919.38 (price prior to any incentives deducted)
AMOUNT OF LOAN: $18,169
TERM CONTRACTED: 60 Months
APR/LEASE RATE: .99%
MONTHLY PAYMENT: 312.34
ANNUAL INCOME: 130K
DEBT TO INCOME RATIO: 1%
MISCELLANEOUS COMMENTARY: Took advantage of Tesla's promotional .99% financing. My previous car that I had just bought 5 months earlier was rear-ended (while I was sitting at a stop light) and was declared a loss.

[arealswellgirl]

APPROVING BANK: Capital One
BUREAU PULLED: TU 8
CREDIT SCORE: Joint 722/758

SOFT PULL/HARD PULL: SP preapproval then HP at dealer
CUSTOMER STATE OF RESIDENCE: OH
NEW/USED: New
YEAR OF VEHICLE: 2024
MAKE: Kia
MODEL: Telluride EX X-Line
MILEAGE: 129
FINANCE/LEASE: Finance

PURCHASE PRICE: $45,500
AMOUNT OF LOAN: $41,270
TERM CONTRACTED: 60 Months
APR/LEASE RATE: 6.48%
MONTHLY PAYMENT: $809.28
ANNUAL INCOME: 244K
DEBT TO INCOME RATIO: 17% (includes this payment and not the trade in payment)
MISCELLANEOUS COMMENTARY: BK7 filed 2015, financial situation has improved greatly since. Traded in with $2,500 credit and put $4,200 down. Nothing added to price, just the normal tax/title/license fees.

[DaWhole9]

APPROVING BANK: Orange County's Credit Union
BUREAU PULLED: None - Preapproved
CREDIT SCORE: 816

SOFT PULL/HARD PULL: Soft
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: Used
YEAR OF VEHICLE: 2018
MAKE: BMW
MODEL: M550i
MILEAGE: 32,000
FINANCE/LEASE: Finance

PURCHASE PRICE: $42K
AMOUNT OF LOAN: $40k
TERM CONTRACTED: 72
APR/LEASE RATE: 5.74
MONTHLY PAYMENT: 680
ANNUAL INCOME: 9$5k
DEBT TO INCOME RATIO: 1%
MISCELLANEOUS COMMENTARY: