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-   -   Daca-friendly banks for auto loan? (http://dreamact.info/forum/showthread.php?t=76122)

JohannBernoulli1667 02-24-2017 12:03 PM

Re: Daca-friendly banks for auto loan?
 
Also, don't buy new...

You are getting ripped off if you buy new cars.

texaskid 02-24-2017 09:06 PM

Re: Daca-friendly banks for auto loan?
 
+1 for the Credit Union route.

I had been banking with BoA for years, but they turned me down for a car loan because of a lack of installment loans on my credit report, even though I had 2 CCs for years by then. So did SunTrust and a few other places that other people had luck with.
Then I randomly walked in to a local CU, gave them my license, proofs of income, and got approved on the spot at 3.99% for a used car. They didn't even ask to see my social, just asked for the number, then asked when it was issued because it gave a red flag because of the non-standard number. Told them it was 2012, after the 2011 number randomization, and that was it.

FLDreamerrr 02-24-2017 10:25 PM

Re: Daca-friendly banks for auto loan?
 
Suntrust 4% . Originally I got approved through Honda bank but they needed a I-9 which I don't have

JohannBernoulli1667 02-24-2017 10:30 PM

Re: Daca-friendly banks for auto loan?
 
Quote:

Originally Posted by natalia1 (Post 606165)
I went to Tyndall and they asked why my driver's license said temporary and told me to "come back when you become a resident". He was such an a-hole

I see,

Maybe they did not suspect me because my license does not say temporary and my pay salary was around 65k at the time.

natalia1 02-24-2017 10:38 PM

Re: Daca-friendly banks for auto loan?
 
Update: I was turned down but every bank and credit union I applied to except Wells Fargo. I applied for financing through the dealership (even though everyone told me not to) and they approved me with 6% interest which is much better than WF

JohannBernoulli1667 02-24-2017 10:43 PM

Re: Daca-friendly banks for auto loan?
 
Quote:

Originally Posted by natalia1 (Post 606267)
Update: I was turned down but every bank and credit union I applied to except Wells Fargo. I applied for financing through the dealership (even though everyone told me not to) and they approved me with 6% interest which is much better than WF

Some dealerships will help you. Congrats, I hope you did not buy an expensive car.

Pay in time and next time you should get a better rate :)

brz09tls 02-24-2017 11:08 PM

Re: Daca-friendly banks for auto loan?
 
Third the motion for a Credit union. I can get a 1.99% loan for up to 65 months. My credit score is in the upper 700's though.

My recommendation is to wait a bit more to get your credit score at least in the 720's so you can get a better interest rate. In the meantime, save more for a bigger downpayment. You will not be getting good rates if you have scores less than 700.

g33k 02-24-2017 11:09 PM

Re: Daca-friendly banks for auto loan?
 
Just save some money and get a used car. There are decent cars for $6000

JohannBernoulli1667 02-25-2017 12:45 AM

Re: Daca-friendly banks for auto loan?
 
Quote:

Originally Posted by g33k (Post 606277)
Just save some money and get a used car. There are decent cars for $6000

This ^^^^^

I have a 2006 VW jetta. I paid 5000 dollars for it.

No interest, no payments, no issues. Only 52k miles

natalia1 02-25-2017 01:16 AM

Re: Daca-friendly banks for auto loan?
 
Quote:

Originally Posted by JohannBernoulli1667 (Post 606288)
This ^^^^^

I have a 2006 VW jetta. I paid 5000 dollars for it.

No interest, no payments, no issues. Only 52k miles

I only work part-time since I go to school full-time and it would take me forever to save enough to buy a decent car. I found a 2014 hyundai sonata for $220 a month..


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