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1- You should start building arelationship with NFCI now, that involves setting up some kind of a direct deposit into your account. Although not that important it does help those who have creditissues.
2- NFCU will not finance anyone with less then a year left in their enlisted contract, or less then a year on their current job.
3- The Chevy Volt is currrently a 40K+ vehicle. As long as you have the income to pay the note it should not be a problem....BUT
Currently dealerships are puting a "premium' on the Volts, that is they are charging more then sticker for the vehicle because they can. Banks extend loans based on a loan to value, that is how much they are lending as a percentage of what the vehicle is worth. Adding taxes and fees on top of the dealer premium you may need to come to the table with money down to get under a LTV.
@Anonymous wrote:1- You should start building arelationship with NFCI now, that involves setting up some kind of a direct deposit into your account. Although not that important it does help those who have creditissues.
2- NFCU will not finance anyone with less then a year left in their enlisted contract, or less then a year on their current job.
3- The Chevy Volt is currrently a 40K+ vehicle. As long as you have the income to pay the note it should not be a problem....BUT
Currently dealerships are puting a "premium' on the Volts, that is they are charging more then sticker for the vehicle because they can. Banks extend loans based on a loan to value, that is how much they are lending as a percentage of what the vehicle is worth. Adding taxes and fees on top of the dealer premium you may need to come to the table with money down to get under a LTV.
I heard about this before, but spoke to a Rep a couple days ago and they told me that this would not be the only reason for an auto loan denial. Can anyone clarify?
@JagerBombs89 wrote:
@Anonymous wrote:1- You should start building arelationship with NFCI now, that involves setting up some kind of a direct deposit into your account. Although not that important it does help those who have creditissues.
2- NFCU will not finance anyone with less then a year left in their enlisted contract, or less then a year on their current job.
3- The Chevy Volt is currrently a 40K+ vehicle. As long as you have the income to pay the note it should not be a problem....BUT
Currently dealerships are puting a "premium' on the Volts, that is they are charging more then sticker for the vehicle because they can. Banks extend loans based on a loan to value, that is how much they are lending as a percentage of what the vehicle is worth. Adding taxes and fees on top of the dealer premium you may need to come to the table with money down to get under a LTV.
I heard about this before, but spoke to a Rep a couple days ago and they told me that this would not be the only reason for an auto loan denial. Can anyone clarify?
Ok well, what did they say? What parameters did they put on it?
My information comes from personal experience in 2004/2005 Things do change.
But if they are saying it is no longer that way what way is it now?- were you able to find that out?