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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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Old 05-06-2009, 11:59 PM   #15
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My Credit Score is 784. I hope i dont have a problem.
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Old 05-07-2009, 12:01 AM   #16
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Quote:
Originally Posted by trudawg660 View Post
i had a 730 but that credit inquiry hurt a lot almost 7 damn points.
well i hope it doesnt hurt me man
did u get approved atleast?
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9. You can use automotive jargon and not sound like a total tool
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7. Manual transmissions prove you can do more than one thing at a time
6. You can't drift in an auto
5. You can't pull fancy moves in an automatic
4. You get better fuel economy with a stick
3. You’ll never look like a chump if you can drive stick
2. Manual transmission cars are faster
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Old 05-07-2009, 12:52 AM   #17
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Old 05-07-2009, 05:25 AM   #18
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well i hope it doesnt hurt me man
did u get approved atleast?
yes i did get approved
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Old 05-07-2009, 05:28 AM   #19
trudawg660

 
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Quote:
Originally Posted by MontyCarlo View Post
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.
i had the same problem i got 5.24 from USAA but i could of got 3.99 from Prefed but i rather stay with USAA. i got a 60 month loan but i plan on paying it off in 3 years. I deploy soon
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Old 05-07-2009, 05:32 AM   #20
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Old 05-07-2009, 07:41 AM   #21
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Im 100% Financed already through my local credit union 5.25%. Plan on putting 7-8K down to bring my payments around $550-575. for 60 months.

Should be good to go.
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Old 05-07-2009, 10:17 AM   #22
Iwantone2
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Quote:
Originally Posted by trudawg660 View Post
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.
Right now, right now, I have $4700 on one and I have $400 on another (hey it's better than it was back in October, $14,000 combined!!!). For sure I'll pay both of these of in July.

Quote:
Originally Posted by babyjulie83 View Post
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.
Mostly yes, b/c of dumb cc debt. But also, my credit doesn't really extend past credit cards. I have never had a car or home loan before so I think that may affect me negatively as well.

Either way, I think I'll have my pop co-sign. Thanks everybody!!!
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Old 05-07-2009, 10:58 AM   #23
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Got 0% interest in 06 with GMAC and my credit has only improved since then so I am not worried one bit.
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Old 05-07-2009, 11:21 AM   #24
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Got 0% interest in 06 with GMAC and my credit has only improved since then so I am not worried one bit.
a lot has changed with credit since 06, market droping makes it harder to get money from banks.
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Old 05-07-2009, 11:46 AM   #25
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I'm wondering something... how long does it take for a credit check to negatively affect your score? I've heard that when you are loan-shopping at multiple places, you should pretty much do them all at the same time to avoid this. But how long do you have in between? Days? Weeks? A month? Just wondering if anyone knows... I just don't want to get credit checks run too early and have a pre-approval expire before the car shows up, you know?
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