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Bought my truck, used Silverado 2006 at the beginning of January, applied for an auto loan from DCU and got approved 36 month at 2.74%, will be saving about $37 a month, a total of about $444 a year! Before my loan was with Huntington and the interest rate was 12.64%! Ouch!
Surprised too they offered me 36 or 48 months because (after I applied online) I was reading DCU only refinances vehicles less then 12 years old, and if under 12 years old they want it paid off by the time it's 12 years old, and my Truck is 10 years old, but nope they first offered me a 48 month loan and I told them I currently have a 36 month loan and would like that instead and they happily gave me a 36 month loan.
Good thing I read about the supposedly 12 year old thing after I applied, or else if I read it before, I probably wouldn't of applied and saved the hard pull, and still have the 12.64% interest loan with Huntington.
My goodness. 12.64. Great job.
Thank you!
My scores are around 670-680. When I was at the dealer beginning of January whatever they pulled my score was 675 and said something like with that kind of credit score you're not going to be finding a better interest rate, which was a huge lie.
Stumbled upon DCU thanks to this forum! When I applied for my membership it said I was prepapproved for up to $20,000.00 but waited a week to apply for the auto loan.
Yeah. flat out lied. my situation was similar. Dealer through inquiries all over on my behalf(how nice of them). They told me 17% was the best, i literally stood up said i cant afford that and was walking out, they said .."...wellllllll, this CU also approved you, but it's pending" i was so mad, they were holding out on me because of that. on TOP of that, the rate they told me was 8.4, which i was excited about, going from 17%. Come to find out from the CU it should have been 5.4, the dealer marked it up to get a larger profit.
Do you know if they used the same pull for your membership?
Pesonally i would have gone with 48 month term if it was the same interest rate, just so i could keep the required payments lower(could always overpay), but hey, do your thing, youre obviously way better off now and can't go wrong with that.