I know that you have to have a decent credit score, employment, and income to be pre approved for a car loan, but I am also wondering do loan officers take in account how much mooney you have available in your savings/checking account when approved for a loan? Also, how do they come up with the pre approval amount? Are there any stipulations with a pre approval car loan??|||Money in checking accounts, savings accounts, investments usually are not considered when applying for a loan. The money says nothing about your history of paying off loans. Furthermore, you could wipe out the accounts the day after you get approved for a loan.
The amount for which you are approved is dependent on three things: 1) your income, 2) your outstanding debts, and 3) your current credit limits and the percentage of those limits that you are currently using.|||How much you have in savings does not usually matter although if you've had it there for years it might make a small impact.
the preapproval amount is usually related to how much they figure you can comfortably afford to pay.
The stipulations might be related to their estimate of value.
My credit union says: Maximum used car loan advance is NADA "Retail Value" or 80% of the purchase price where NADA "Retail Value" is not available.
On a related note, my credit union TURNED ME DOWN for a cash back credit card despite the fact that I had over $30,0000 in CDs.
I tried again about a year later and they approved it with a $1000 limit. Later, when I had some big purchases pending, they upped it to $5000 after pleading with them but by then I had over $70,000 in CDs.
A month or so ago, they changed a rule that said they can raid your other accounts with them if you fail to pay back any loan. Apparently it wasn't always the case.|||HI ,my names is Joy Rose.i saw your question in yahoo answer .i decide to referred anybody who is dire in need of loan to this God fearing man because i have been SCAMMED twice by this fake lenders.when i have bad credit is this man that gave me{ $60,000] .you can get to him via Email james.wood8483@yahoo.com. tell him joy rose referred you to him who he gave a loan to.Goodluck
thanks,from joy Rose|||My name is Ken Lee i am the managing director of Ken lee loan firm I assist people financially who are desperate need of a loan, because I think enough is enough I want to prove myself to everyone.
TYPE OF LOAN
business loan, company loan, personal loan, housing loan, student loan etc.
I assure you 100% guaranty your problem will be solved. So hurry now by sending us your details Hope to see your response via this link.
kenleeloanfirm@ymail.com , kenleeloanfirm@live.com|||I am just whyte, i had issues getting a loan of 150k until i met Henry Smith. do contact him at henrysmith612@gmail.com All thanks goes to my friends Lissa for introducing me to him. I am doing like wise here.....Congratulations as you contact him....
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