Buying a used car

[Anonymous]

Looking to pick up a used car soon about 1 week-10 days from now maybe sooner if we find the deal we want. Looking for 2014 Jeep Grand cherokee limited under 65k miles.

My Yearly income is 65k. My Budget is 25K for the new car. I sold my past vehicle two weeks ago willing to put large down 12-14k The term I'm looking for is 36m maybe 48. Yes is big down but wife does not want to have a huge bill on our head we usually buy our cars straigh cash. But this time arround wanted something nicer newerr and not willing to dump 25k cash into a car all in one shot.  Figured we try financinig a bit. 

My Credit card utilization currently is 11% will go down to about  6% begining of Next motnh when I pay off some work relelated reimbursementsfor a trip.

I was looking to trying out capital on auto Nav but allot of the Vehicles im looking at are not part of the participating delaers in their network. My other choice was maybe to Penfed as is the only other credti union I seem to  be able to qualify by joining their other category and getting a memebeship for some other Charity I belive.  Only issue is in NYC they dont have a single branch incase any issues would arrise.  and  they use some NEXt gen score that is rearely available to us.

One thing trying to avioid is multiple hard pulls on a my credit during the buying process. Already hate dealing with dealeras with bait and switch tacktick to get you to come in.

I had one Car loan with Lincoln/ford about 3-4 years ago around 19k loan paid always on time and paid off in about 18 months ( sold car to another delaer they did pay off the loan balance around 12k)

Any tips suggestions anyone might have are greatly appriciated. 

Thanks.

Current my Ficoscores:

EQ: fico8 (692) auto Score 8 (709) 

TU: fico8 (696) Auto Score 8 (700)

Ex: Fico8 (700) Auto Score 9 (710)

[Anonymous]

You will have no problem getting approved.  I strongly suggest Penfed, DCU or NFCU, credit unions consistantly have great interest rates and great service.  Get preapproved for the amount you want, they send you a check and your negotiation with the dealer is much easier and you don't have to worry about the dealer marking up interest on you.  Let us know how it goes.

[Anonymous]

If you can get in with them I'd recommend Alliant. I got preapproved for $15k for 2.99% / 60 months with scores in the 670s (plus one 30-day late). That was much lower than what I was expecting, so I was pretty happy - plus they have great customer service and processed everything really quickly.

[Anonymous]

Thanks for the advise.  Do you know what is the time line with Pendfed from signing up to be a member to getting approved and a check in the Mail? 

[Anonymous]

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@Anonymous wrote:

Thanks for the advise.  Do you know what is the time line with Pendfed from signing up to be a member to getting approved and a check in the Mail? 

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They are super quick, I was approved late tuesday and the check arrived Friday, it was mailed on Tuesday.  I understand they will fedex the check overnight if you pay a fee, I wasn't in a hurry because I already owned the car so I didn't bother.  You should be able to do all of it very quickly.