I think i need 2 auto loans from navyfed totaling about 65-70k.. thoughts?

[kabal57]

anyone have 2 new auto loans though navyfed at the same time?
I'd like to trade my 15 tacoma in for a 16 tundra, and also get the wife a new 15 rav4.

my current auto loan is through navy, was pre approved for 40k last year for it (used 33k) @ 3.75 with my overall credit utilization sky high.
wife had a lease on a mazda 3 that i just paid off and sold the car, so she's carless at the moment.

income around 80k, available credit is 40k with about 5% utilization (everything is paid off)
no lates, no collections, current vechicle will be traded in.
overall cs is only 704-725 across all 3 cbs.. however auto enhanced is only 680. will they do 2 loans at once or am Iworrying about nothing?

[takeshi74]

Even with as much info as possible it would be difficult to say since we're not NFCU underwriters.

Not finding much with a quick site restricted Google search either but maybe tweaking the keywords could help:

https://www.google.com/search?q=NFCU+multiple+auto+loans+site%3Aficoforums.myfico.com&oq=NFCU+multip...

[Hoya08]

Are you dual income at 80k, or is that just from you?  Your DTI (with the car loans) may potentially be an issue. 

I've had 3 concurrent auto loans with NFCU (2014): 1-new, and 2-refi's, totaling about 80k.  Mind you, when we did this (and still do), the wife and I have excellent credit scores and DTI (not including the car loans) around 5%. 

[kabal57]

that income is just me. My dti is basically zero for revolving accounts. I have 51k in available credit, (cc's, 2x navy, citi, b of a, usaa amex and cap1)  and have a balance of about 4k on that 51k

I had 2 auto loans previously, my current one (tacoma through navy) and my wife's lease (mazda financial) totaling about $820 monthly.

I paid off the mazda earlier this month and have the title for it already, although it isn't showing up as paid off on my cr's yet, probably won't until next month. my fico scores are, eq 717, tu 705, and ex 717. no lates, no bk, no collections, one paid tax lien from 2012 (interstate tax screwup on my part)

thanks for the replies so far guys, they're appreciated!

[kabal57]

update.. I talked with navy today and I was approved for both loans over the phone,

one for 48k and the 2nd I only asked for 25k and that was approved as well.

2.79% for 72 months on both loans, which could have been slightly lower but i'm happy with the rate for the term length.

usaa only offers 2.49 for 72, so not too far off from what navy has.

looks like I need to get serious about car shopping!

[Hoya08]

Congrats on the approvals!  Now the car-buying fun begins