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I Have a new vehicle on order and I am looking for a new vehicle auto loan and the best rates. My TU FICO score is 707 at the moment but the FICO Score Simulator says once a $2500 balance drops off, my score should jump to 727-767. The 2500(deposit on the new vehicle) should be off any day as I paid it back in January but it is still showing on my TU CR. I filed an inquiry into why the balance is still on there.\

Who has the best lowest rates for a decent credit score?

Anyone finance a new vehicle lately?

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I Have a new vehicle on order and I am looking for a new vehicle auto loan and the best rates. My TU FICO score is 707 at the moment but the FICO Score Simulator says once a $2500 balance drops off, my score should jump to 727-767. The 2500(deposit on the new vehicle) should be off any day as I paid it back in January but it is still showing on my TU CR. I filed an inquiry into why the balance is still on there.\

Who has the best lowest rates for a decent credit score?

Anyone finance a new vehicle lately?

This week I'm looking into refinancing two cars. Not expecting a big drop in payment, but would save $4500 bucks over the next five years.

Last October brought an 06 Nissan Pathfinder, got a rate of 8.25%. The dealer said not to refinance for three months, I am sure they caught a kick back. They gave me a great deal for my trade in. Have no problem with dealer.

Right after Christmas, brought my wife a new 2010 Nissan Altima, got rate of 4.99%

Last week received email from Teachers Federal Credit Union, applied for a refinance and was approved for 5.25% for my Pathfinder, and 3.99% for my wife's car.

Yesterday I also checked with Bank of America. Received quote on my Pathfinder, 6.25%. I asked was that the best they could offer? and immediately told them how disappointed I was, since they have my checking and savings.

My 2 cents

.

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... My TU FICO score is 707 at the moment but the FICO Score Simulator says once a $2500 balance drops off, my score should jump to 727-767....
I keep saying that the FICO score we're allowed to see is closest to the FICO Bank Card score (the "sucker" score) and probably does not reflect what your FICO New Car score is. I'd suggest you look to your local credit union or local (non-national) bank.
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The Fico Auto score is not available for purchase and a consumer is not able to see that score. That's why we use the Fico score as a close estimate.

I keep saying that the FICO score we're allowed to see is closest to the FICO Bank Card score (the "sucker" score) and probably does not reflect what your FICO New Car score is. I'd suggest you look to your local credit union or local (non-national) bank.
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The Fico Auto score is not available for purchase and a consumer is not able to see that score. That's why we use the Fico score as a close estimate.
That's exactly my point. Its NOT a close estimate. The Bank Card score and the new car score are intended to predict two entirely different things. The first is designed to show that you use credit cards (and pay interest and occasional penalties). The second is designed to show your history of dealing with car payments and the likelyhood that you'll have money to pay them in the future. The sucker score wants "utilization" around 30%. The new car score want 0% utilization and very low (if not $0) "available" unsecured (i.e., CC) debt.
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Yes it is very close to the auto fico score and it is in the interest of someone to pull their fico score to know where they are before getting an auto loan. And lenders such as GM and Ford and dealerships use both.

That's exactly my point. Its NOT a close estimate. The Bank Card score and the new car score are intended to predict two entirely different things. The first is designed to show that you use credit cards (and pay interest and occasional penalties). The second is designed to show your history of dealing with car payments and the likelyhood that you'll have money to pay them in the future. The sucker score wants "utilization" around 30%. The new car score want 0% utilization and very low (if not $0) "available" unsecured (i.e., CC) debt.
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The lowest bank rate I am aware of at the moment is via Chase. In Florida they use an Equifax bureau, but I do not know about other states. For superlative credit they have rates just barely over 3%. They have an unpublished rate sheet that the dealer's F&I manager can negotiate with. If he's smart that is. I do not know how they treate folks on a direct basis.

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Thanks,,,,I am looking at Chase too, and US Bank, A Local Credit Union, BOA, ELOAN, Capital One, Lending Tree and GM.

I just found out that when you apply for a loan like auto or mortgage all the inquiries (30 day period) only count as 1 inquiry so I will apply at a bunch of places.

My local CU has 3.99 for Fico Scores over 700 and GM has 2.9 on the vehicle I ordered.

BUT I just pulled my Equifax Fico score and it is showing 683 and some errors such as a closed BOA credit card account on there. I told those idiots at BOA that I just wanted a new card issued and they said it would NOT result in a closed account showing up on my CR. Well guess what? It is showing as a closed account.

I also have a lien on my Equifax that isn't showing as RELEASED. I was showing as released for years and now it is not.

I hate having to correct all the errors that the CRA seem to continually put on my CR.

The lowest bank rate I am aware of at the moment is via Chase. In Florida they use an Equifax bureau, but I do not know about other states. For superlative credit they have rates just barely over 3%. They have an unpublished rate sheet that the dealer's F&I manager can negotiate with. If he's smart that is. I do not know how they treate folks on a direct basis.
Edited by 1flyfisher
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