Missed the best rate by 1 point.

[masscredit]

I applied for a car loan today. My EQ 04 score is 699. 700 needed for the best rate. That cost me .75%. Funny thing is, I was told that my last auto loan with them was at the best rate and I had the same score. Maybe their criteria changed over the course of a few months. Sometimes one point can cost you some $. 

[Anonymous]

Was this through DCU? I was told one week ago by them that its stil 675 EQ for the best rate.

[masscredit]

Yes it is. What rate did they give you? I was told 2.74% for 72 months. Best rate is 1.99%. I even called back because I got the best rate with 699 before,

[dabrian]

I think you have to finance under 65 months to get 1.99%.

[masscredit]

I wonder if the person might have got her info crossed. I just pulled my paperwork from the other laon. I also did that one for 72 months. It was at 2.49% - .25% because it's a hybrid. So the rate will be the same as the last lone. Plus, it will go down by .25% after 3-4 months of ontime payments. 

[Ragelog]

I had a 683 EQ 04 score at time of approval I got 48 months for 1.49% it was 1.99%-.50% reduction for getting direct deposit sent to them. This was on August 12th. Last I heard 675 was the required score for their best rate.

[masscredit]

I'm here now so I'll get the scoop. 

[masscredit]

Ok, here's the deal. 675 gets the best rate for an auto loan. 700 gets personal loans to the next level. That's where I'm one point off.  The person on the phone must have confused the rates.

Overall, another very good experience there!