APPROVING BANK: AMERICA FINANCIAL
BUREAU PULLED: EQUIFAX
CREDIT SCORE: 611
SOFT PULL/HARD PULL: HARD PULL
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: NEW
YEAR OF VEHICLE: 2023
MAKE: BMW
MODEL: X5 M50I
MILEAGE: 23
FINANCE/LEASE: FINANCE
PURCHASE PRICE: $124,929
AMOUNT OF LOAN: $45,049
TERM CONTRACTED: 72 MONS
APR/LEASE RATE: 15.04% APR
MONTHLY PAYMENT: $964.92
ANNUAL INCOME: $220,000
DEBT TO INCOME RATIO: 10%
MISCELLANEOUS COMMENTARY: I work a consultant and make good money,
@willwar14 wrote:APPROVING BANK: AMERICA FINANCIAL
BUREAU PULLED: EQUIFAX
CREDIT SCORE: 611SOFT PULL/HARD PULL: HARD PULL
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: NEWYEAR OF VEHICLE: 2023
MAKE: BMW
MODEL: X5 M50I
MILEAGE: 23
FINANCE/LEASE: FINANCEPURCHASE PRICE: $124,929
AMOUNT OF LOAN: $45,049
TERM CONTRACTED: 72 MONSAPR/LEASE RATE: 15.04% APR
MONTHLY PAYMENT: $964.92
ANNUAL INCOME: $220,000
DEBT TO INCOME RATIO: 10%
MISCELLANEOUS COMMENTARY: I work a consultant and make good money,
15.04% ??
APPROVING BANK: USFCU
BUREAU PULLED: EX, EQ
CREDIT SCORE: 666
SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: FL
NEW/USED: NEW
YEAR OF VEHICLE: 2022
MAKE: TOYOTA
MODEL: Corrolla
MILEAGE: 15
FINANCE/LEASE: FINANCE
PURCHASE PRICE: 22944 (out the door)
AMOUNT OF LOAN: 18944
TERM CONTRACTED: 84
APR/LEASE RATE: 7.5%
MONTHLY PAYMENT: 291
ANNUAL INCOME: 80100
DEBT TO INCOME RATIO: <10% (unknown)
MISCELLANEOUS COMMENTARY:
@Horseshoez @fury1995 I went back lol
So, the GM responded to me the following day with an apology. The under writer tacked it on by mistake when it was supposed to go on another deal.Whether or not that was a lie, I don't care. They bumped me to a tier 1 buyer and was able to get me under 300/mo and at a great rate. I'm not thrilled about 84 months but I'm right where I need to be with the finances, so until rates drop it'll do. They gave me 4.5k towards my altima with 136k and a list of lights. So I appreciate the honesty and transparency. I'm back in a brand new car and I'm a satisfied customer.
@JasonK94Z wrote:
@willwar14 wrote:APPROVING BANK: AMERICA FINANCIAL
BUREAU PULLED: EQUIFAX
CREDIT SCORE: 611SOFT PULL/HARD PULL: HARD PULL
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: NEWYEAR OF VEHICLE: 2023
MAKE: BMW
MODEL: X5 M50I
MILEAGE: 23
FINANCE/LEASE: FINANCEPURCHASE PRICE: $124,929
AMOUNT OF LOAN: $45,049
TERM CONTRACTED: 72 MONSAPR/LEASE RATE: 15.04% APR
MONTHLY PAYMENT: $964.92
ANNUAL INCOME: $220,000
DEBT TO INCOME RATIO: 10%
MISCELLANEOUS COMMENTARY: I work a consultant and make good money,
15.04% ??
IKR!!
@Blender wrote:
So, the GM responded to me the following day with an apology. The under writer tacked it on by mistake when it was supposed to go on another deal.Whether or not that was a lie, I don't care. They bumped me to a tier 1 buyer and was able to get me under 300/mo and at a great rate. I'm not thrilled about 84 months but I'm right where I need to be with the finances, so until rates drop it'll do. They gave me 4.5k towards my altima with 136k and a list of lights. So I appreciate the honesty and transparency. I'm back in a brand new car and I'm a satisfied customer.
That's awesome! Also, for the record.. 7.5% for 84 months is pretty darn good in this market especially based on a score of 666 << you have to get that moved, in any direction lol. I knew reaching out to the GM would get you what you needed. Plus, you kinda built a relationship with the most important person in the place so that will get you farther in the long run when you need any kind of assistance during your (*assuming) long time ownership of your new Toyota.
Congrats again!
@willwar14 wrote:APPROVING BANK: AMERICA FINANCIAL
BUREAU PULLED: EQUIFAX
CREDIT SCORE: 611SOFT PULL/HARD PULL: HARD PULL
CUSTOMER STATE OF RESIDENCE: CA
NEW/USED: NEWYEAR OF VEHICLE: 2023
MAKE: BMW
MODEL: X5 M50I
MILEAGE: 23
FINANCE/LEASE: FINANCEPURCHASE PRICE: $124,929
AMOUNT OF LOAN: $45,049
TERM CONTRACTED: 72 MONSAPR/LEASE RATE: 15.04% APR
MONTHLY PAYMENT: $964.92
ANNUAL INCOME: $220,000
DEBT TO INCOME RATIO: 10%
MISCELLANEOUS COMMENTARY: I work a consultant and make good money,
Wow! First.. nice car.. er, rocket ship.
Second, your $80K. Was that trade equity or down payment? Your LTV was less than 40% and with your income, you probably will be able to knock that loan out much faster than 72 months. BOA is always simple interest so refiancing after you get some on time payment history for this loan under your belt is always the goal. In the meantime, I'd put as much as possible towards that balance to cut that $24K in interest down. Making only the payment due will put about $5K towards your principal payoff after 12 months and that will get you some time to move that 611 score.
Congrats!
@fury1995 wrote:
@Blender wrote:
So, the GM responded to me the following day with an apology. The under writer tacked it on by mistake when it was supposed to go on another deal.Whether or not that was a lie, I don't care. They bumped me to a tier 1 buyer and was able to get me under 300/mo and at a great rate. I'm not thrilled about 84 months but I'm right where I need to be with the finances, so until rates drop it'll do. They gave me 4.5k towards my altima with 136k and a list of lights. So I appreciate the honesty and transparency. I'm back in a brand new car and I'm a satisfied customer.
That's awesome! Also, for the record.. 7.5% for 84 months is pretty darn good in this market especially based on a score of 666 << you have to get that moved, in any direction lol. I knew reaching out to the GM would get you what you needed. Plus, you kinda built a relationship with the most important person in the place so that will get you farther in the long run when you need any kind of assistance during your (*assuming) long time ownership of your new Toyota.
Congrats again!
Yeah good call.
I'm very pleased with 7.5% and his effort to get me there and into the car.
thank you!