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Old 05-06-2009, 04:48 PM   #1
trudawg660

 
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How positive are you about getting your loan approved.

I just applied for my car loan monday and i got approved though USAA, but i was a nervous about getting approved in this crazy market. I have good credit but you never know now a days.
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Old 05-06-2009, 05:18 PM   #2
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I got approved with no issues. I am at the end of a loan with the same CU, so I didn't expect any problems. If you don't mind me asking, what kind of interest rate did you get? A friend of mine said he would refer me to USAA, if I wanted. I got 4.75% with FL State CU.
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Old 05-06-2009, 05:20 PM   #3
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sometimes i am but i got a good cs in the 720 range
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Old 05-06-2009, 05:23 PM   #4
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Quote:
Originally Posted by RandomHB View Post
I got approved with no issues. I am at the end of a loan with the same CU, so I didn't expect any problems. If you don't mind me asking, what kind of interest rate did you get? A friend of mine said he would refer me to USAA, if I wanted. I got 4.75% with FL State CU.
i got 5.24%, i know i could of got 3.99 from pentagon but i rather stay with my own company. and i will be paying my loan off really early so i wont incur that much interest. it should have half of my loan paid off by June.
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Old 05-06-2009, 05:24 PM   #5
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sometimes i am but i got a good cs in the 720 range
i had a 730 but that credit inquiry hurt a lot almost 7 damn points.
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Old 05-06-2009, 05:43 PM   #6
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Trudawg, how much did you put down and how much did you borrow?
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Old 05-06-2009, 05:47 PM   #7
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I am almost certainly positive that I would not be approved for a loan. C.S. = 711 (checked last month), but have cc debt. :(
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Old 05-06-2009, 05:58 PM   #8
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Trudawg, how much did you put down and how much did you borrow?
I will be putting about 3000 down and i financed 27000.
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Old 05-06-2009, 06:02 PM   #9
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I am almost certainly positive that I would not be approved for a loan. C.S. = 711 (checked last month), but have cc debt. :(
i had/have credit card debt but i kinda played the system. i have two USAA credit cards. one had a balance of like 3000 and the other have like 1500. well when it came around the time for my statement for one i did a cash advance from one of my cards to my bank account and paid off the other credit card . and did the same with the other card when the statement was due. just moving my debt around so the credit agencies couldn't see it. so i ended up with 4500 on one card and the other card was at 0.
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Old 05-06-2009, 06:11 PM   #10
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Quote:
Originally Posted by Iwantone2 View Post
I am almost certainly positive that I would not be approved for a loan. C.S. = 711 (checked last month), but have cc debt. :(

A credit score of 711 isn't bad....why do you think you won't be approved for a loan, because you have credit card debt? Other items are taken into consideration besides your credit score....such as annual income, recent late payments, debt to income ratio.

I'm worried about getting approved but we shall see.....once I get a VIN# i'll start shopping around.
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Old 05-06-2009, 06:12 PM   #11
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Old 05-06-2009, 11:25 PM   #12
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got 5.5% and picked up my draft letter today...financing is done just waiting on the Maro to get here.
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Old 05-06-2009, 11:30 PM   #13
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If you have a credit score of over 700 and no major issues with your current debt, you should have no problem getting a loan.
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Old 05-06-2009, 11:56 PM   #14
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USAA offered me 5.99%. I got an offer of 4.99% from my own credit union, so it looks like this is one time USAA's not my wallet's best option.
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