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Low Rate Auto Loan For Mike In Farmville, North Carolina

$147000 Auto Loan – Farmville North Carolina, Credit Score Of 560

  • Experian: 573 – The client had a fair Experian score
  • Transunion: 547 – Mike had a fair credit score with Transunion.
  • Equifax: Mike’s Experian score was 560, which is a fair credit score using the Experian scale.

Mike has a very low current total income, but has several of prospects

Mike has always wanted to be a musical instrument tuner, but would have to attend Miami Dade College again to become one. Mike has other possibilities as well, including insulation installer, speech pathologist, and community health nurse, which pay $54,000 through to $92,000 per year, on average. Because of this, we think that Mike can pay for this auto loan of $147000.

When Mike was 23, they tried to obtain a student loan from 5 alternate banks, which damaged their credit score. Below is a chronology of Mike’s previous attempts at finding a student loan:

  • Attempt 1) Loan for $28,000.00 on December 28, 2009
  • Attempt 2) Loan for $39,000.00 on December 4, 2012
  • Attempt 3) Loan for $20,000.00 on December 3, 2011
  • Attempt 4) Loan for $28,000.00 on March 31, 2013
  • Attempt 5) Loan for $26,000.00 on July 24, 2012
Client Profile: Mike Janik of Farmville, North Carolina
  • Full name (Changed if requested): Mike Janik
  • Current Credit: loans.hit.utils.Fico@277050dc
  • Current City: Farmville
  • State: North Carolina
  • Zip code: 27833
  • Yearly income: $67,000
  • Current Job: technical illustrator
  • Current County: Pitt
  • Goal Yearly Income: $110,000
  • Debt (Personal Loan, Credit Card, Payday Loan, etc): $2000

Debt Consolidation Will Help Any Deeply Indebted Borrower to Escape Bad Debts like Credit Card Debt

Normal debt consolidation loans vary from $38,000.00 to $59,000.00. They are normally used to pay off existing high interest loans like credit cards. Mike required a debt consolidation loan to pay for their existing auto loan and their payday loan. Mike was able to find a auto loan in the end. Debt consolidation, or just consolidation, is a tactic in the strategic borrowing method which transfers your bad, high interest loans to one lower interest loan. Debt consolidation loans generally have interest rates that are low, like 4.0%.

Fast Loans for Mike in Farmville, North Carolina to prevent bankruptcy or harm from debt collectors.

Fast loans in Farmville, North Carolina aren’t actually that difficult to obtain, particularly if you have some gumption like Mike. Mike was able to find a fast loan for $147000 from Nationsbank of North Carolina, National Association and Stokesdale Commercial Bank, but turned down both offers in favor of their auto loan from The Bank of Farmville. The difference with a fast loan over a debt consolidation loan is in speed. Fast loans usually are processed within 1 – 3 weeks, versus up to 6 weeks for personal loans. Much better in the case that a client is on the go.

Mike was not approved by Communityone Bank, National Association 4 times prior to being accepted by The Bank of Farmville at Main Street

On August 1, 2009, Mike inquired about borrowing $43,000 from Central Carolina Bank and Trust Company with Helene, their friend from just outside Farmville, and even with the co-signer, Mike was rejected for this auto loan. With fair credit, it can be very hard to procure financing, even with collateral and a co-signer.

Personal Loan for a technical illustrator named Mike in Farmville, North Carolina to Pay Off Canandaigua National Bank & Trust Secured Visa Card

Mike had a tonne of credit card debt on their Philadelphia Phillies BankAmericard Cash Rewards MasterCard and their WalMart Business Card, and they were starting to get in over their heads. Despite Mike’s job as a technical illustrator, they struggled to make payments on the $21,000.00 credit card balance, badly needing assistance in the form of a personal loan.

Mike’s Overall FICO score at the time of acceptance for an auto loan, taking into account their technical illustrator job and their future job as a musical instrument tuner

Fico Score: 560

Installment loan for Mike, a graduate of Miami Dade College and a technical illustrator working for over $64,000 per year

Mike, an alumnus at Miami Dade College and a technical illustrator in Farmville, North Carolina wants an auto loan to purchase a car. Mike has instead decided to obtain an installment loan for $21,000 and is at present seeking lenders like The Bank of Currituck to process their request.

Contact Details for The Bank of Farmville, the provider of this auto loan

  • The Bank of Farmville
  • City: Farmville
  • State: North Carolina
  • Address: Main Street
  • County: Pitt
  • Zip code: 27828

Mike’s Transunion score was altered by the auto loan loan, changing to 547 from 560, which is normal in our experience.

Transunion Score: 547

Signature Loan acquired in Farmville, North Carolina for $147000 with fair credit by Mike

Many clients struggle with finding signature loans in Farmville, North Carolina, and Mike is no exception. Mike went to 7 lending institutions or more before settling on The Bank of Farmville, who offered Mike a signature loan for $147000. Most signature loans simply need a client, like Mike’s signature to get them, up to $32,000 in some cases. Mike was able to get $147000 as a auto loan, which is very high for an auto loan. Since signature loans do not require collateral, they tend to need higher credit, as high as 798

Multiple previous requests for credit have been made by Mike in the past, including one from First American Bank in Farmville, North Carolina before Mike was approved for the $147000 by The Bank of Farmville

Mike made 9 prior attempts to obtain an auto loan, 2 of which were with First American Bank, a lender in Farmville, North Carolina known to specialize in auto loans specifically. Prior to finding The Bank of Farmville, Mike was concerned due to their inexperience and fair credit score.

Before applying for this auto loan, Mike had an Experian score of 573, which is fair, so The Bank of Farmville probably cannot provide Mike an auto loan

Experian Score: 573

Paraphrased and Standardized Quote from Mike for this auto loan of $147000, provided by The Bank of Farmville

Hi, I am Mike and I am from Farmville in North Carolina. Pitt, county is where I grew up, and now I need a auto loan in North Carolina for $147000 to buy a big ticket item. It wasn’t easy, but The Bank of Farmville really came through for me with this loan for 7.8% interest APR and a term of 24 years. I will repay the loan over the 24 year term, including interest. A big thanks to The Bank of Farmville for trusting me and my fair credit. It look me 8 years to create my credit to 560, and I won’t harm it any more. I am happy with Find Texas Loans for helping me this far.

9 Months Ago, Mike Attempted Finding a High Risk Loan for $23,000.00, and it was Easy

It is an well known struggle for borrowers to get high risk loans in a non-harmful manner. Many high risk loans end up coming from loan sharks or similar lenders, which can be physically harmful to borrowers like Mike. Mike decided not to get a high risk loan this time. High Risk loans are generally given by lenders to bad credit clients. Individuals with credit scores as low as 420 can inquire for a high risk loan and have a chance to be approved.

Previous requests on Mike’s credit

Principle in USD Term Length in Years Annual Percentage Rate Monthly Payment Lender’s Branch Name Date of Request
$130200.00 10 5.4% $1406.57 The Farmers Bank of Seaboard December 21, 2013
$129530.00 3 9.4% $4143.18 The Bank of Raeford February 13, 2015
$130180.00 9 6.1% $1569.35 The Bank of Coleridge June 24, 2015
$130430.00 10 9.6% $1694.88 Farmers Bank of Sunbury September 4, 2015

Conclusion of Mike’s auto loan

In the end, Mike was able to find an auto loan for $147000 with an interest rate of 6.3% interest APR from The Bank of Farmville in Farmville, North Carolina repayable over 24 years from today.

Will Alexander

Will Alexander has over 10 years of experience as a financial expert and writer. The goal of his work is to assist the people of Texas in finding loans for lower interest rates than they thought were possible. Will specializes in bad credit loans.

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