Regular financing approvals

[Jherna15]

Has anyone gotten any luck getting financed via non military or non credit union financial institutions (regular personal or business auto loan banks)? I’m striking out everywhere with proposing 10% down, they’re all countering with requesting 30-35% down which is insane. Bank of America came back with a business auto loan of 36 months, 30% down, and 7.3% interest lmao. I have an 820 credit score and more than enough proveable income to afford it. Wondering if they’re reluctant to finance Cybertrucks… If anyone has any other experiences please let me know who you used. I’m not willing to pay that high a down payment or even pay cash. I want it, just not THAT bad lol. I just got assigned my vin sooooo any tips are appreciated. Thanks all.

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[Gigahorse]

Has anyone gotten any luck getting financed via non military or non credit union financial institutions (regular personal or business auto loan banks)? I’m striking out everywhere with proposing 10% down, they’re all countering with requesting 30-35% down which is insane. Bank of America came back with a business auto loan of 36 months, 30% down, and 7.3% interest lmao. I have an 820 credit score and more than enough proveable income to afford it. Wondering if they’re reluctant to finance Cybertrucks… If anyone has any other experiences please let me know who you used. I’m not willing to pay that high a down payment or even pay cash. I want it, just not THAT bad lol. I just got assigned my vin sooooo any tips are appreciated. Thanks all.

Getting my financing together and ran into the same issue. When I pressed the local bank loan officer why they wanted such a high down payment he said it was because the underwriting department had concerns about depreciation on the vehicle. When I brought up that they are still selling for more used than new he said they had taken that into account.

 

[Jherna15]

Update: Bank of America business auto loan officer called me out of the blue after applying and came back with a much better deal than initially offered (6.4% Apr 72 months 1600ish/ month $3,600 down (including deposits) vs initial offer of 8% interest 36 months $2400ish/month $25k down).

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