NFCU PAL Recon?

[Anonymous]

Hey all,

I'm currently searching for a new car. I've recently applied to several CU/Banks and got back from a few through the Pre-approval process.  I am surprised to say that Captial One seems to be the one giving me the best rate. They are giving me up to $35k at about 3.9%. Navy Federal on the other hand is looking to give me up to $24k at 8.5% (ouch!).

Now some of the questions between the two were different for the pre-qual, but would NFCU reconsider better rates? When I did my application, since it was a PAL, they didn't ask for the car information or downpayment or such while Capital One did. If I give them the info, would that help?

Thanks!

[undrtkr65]

I think if the car is newer they will give you a better rate or if the car is older the rate may be higher. I would give them a call to find out for sure. navy federal is a good credit union.

[Anonymous]

Agreed, let NFCU know whether it's new, used or older used...there are different rates based on auto age.

I just got 4.9 last month but I bought an 04 which gets a higher rate than a 13 due to age where a 15 or 16 would get the new rate

Also, with Navy they sent me a check to be used at any dealer I saw fit, no down payment required....the auto info isn't required as long as you buy within reason (meaning no 20k loan on a car worth 8) and they'll run values for you 24/7 on cars you're shopping.

They use NADA, which you can Google yourself if you want, they lend up to 125% of book value to cover tax title & extras but with check hand I shopped ad a CASH buyer, as I was able to tell the dealer I'm paying TODAY....got a great deal

[bsal]

You got a 4.9 rate on a 04 ?or did you mean 14 and can I ask what were your scores and who did they pull