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thoroughlyridiculous
Posts: 27
Registered: ‎11-20-2012
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Navy Federal Maximum Loan

I have been with Navy Federal for a little while now and they have been really great. The customer service is especially fantastic! In the future I plan on buying a Jeep and I will be putting a lot of money into it. Does Navy Federal have a maximum amount they will give for an auto loan? I would be looking for around $50,000. The earliest I could see taking out such a loan would be Christmas of 2014.

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Dustink
Posts: 2,980
Registered: ‎10-02-2012
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Re: Navy Federal Maximum Loan

[ Edited ]

$50,000 seems like a pretty standard ceiling for auto loans. If your income and credit support it, navy fed will have no issue granting the loan.

 

Thanks for supporting the US auto industry, but I think you can find much better options for half the money.

 

I could see an SRT-8 being worth about 30k, but no way would it or any other jeep be worth $50k.

 

I see the Nissan Xterra as a good alternative to a Jeep. It will hold its value much better, it will last longer, it will tow better, and it will do better offroad.

 

Good luck with your auto purchase no matter what route you take.

 

If you want to check out an xterra, here is a link to one on auto trader. http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?zip=94121&endYear=2014&modelCode1=XTERR...

 

If I was going to drop $50k on a mommy mobile. I would probably go with something like this http://www.autotrader.com/cars-for-sale/vehicledetails.xhtml?zip=94121&endYear=2014&modelCode1=ML63A... Seems like a better value than the jeep.

 

Haha, not trying to sound to harsh...guess I'm just not a jeep fan. Just for kicks I ran an auto quote on that ML63 and my insurance only goes up $50 per month.

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Creditaddict
Posts: 20,187
Registered: ‎10-23-2007
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Re: Navy Federal Maximum Loan


thoroughlyridiculous wrote:

I have been with Navy Federal for a little while now and they have been really great. The customer service is especially fantastic! In the future I plan on buying a Jeep and I will be putting a lot of money into it. Does Navy Federal have a maximum amount they will give for an auto loan? I would be looking for around $50,000. The earliest I could see taking out such a loan would be Christmas of 2014.


I don't know if you are talking about like a vintage collectable Army Jeep or like a 2013 Jeep Wrangler and then you want to go have it lifted, have HUGE mud tires put on, roll cauge and all that jazz... Either way I don't think it's usually possible to purchase a car and then turn around and ask for a 2nd auto (not like a house) to do "Upgrades"

If you wanted to buy a $50k vehichle and it's $50k with no upgrades it's not an issue at all.  I know that Navy will do at least $50k, but I wanted to say it's closer or over the $100k mark.

 

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Established Member
thoroughlyridiculous
Posts: 27
Registered: ‎11-20-2012
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Re: Navy Federal Maximum Loan

A 2015 Jeep Wrangler is the goal. It comes to just under $41,000 when priced on their website. 

 

Yes, I will be adding after-market upgrades, but that will all be paid for with cash.

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ImprovingYouth
Posts: 154
Registered: ‎09-21-2012
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Re: Navy Federal Maximum Loan

[ Edited ]

I would venture to say that Navy may have a standard limit on vehicle loans, BUT I guarantee that they make exceptions. I work for a much smaller credit union than Navy and even with standard preset limits of 60k for car loans, I have seen loans given in excess of 150k. Exceptions are made in every aspect of finacial institutions and the focus here should be your creditworthiness, value of the car (depends on the valuation method of the credit union, but usually NADA) and income. Just call in and ask to get specifics for the vehicle you were looking to purchase.

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Regular Contributor
cableguy123
Posts: 230
Registered: ‎11-05-2011
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Re: Navy Federal Maximum Loan

i dont think there is a cap as long as income is there... me and my wife got a loan back aug 1 for 76k from them for a nissan gtr and my and my wife the other day got approved for a 40k loan but we might not use at 1.79% we where thinking about getting a crossover but not sure if i want to take that extra debt out right atm!

Regular Contributor
cableguy123
Posts: 230
Registered: ‎11-05-2011
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Re: Navy Federal Maximum Loan

also navy has a ltv of 125% they told me the other night btw!

Valued Member
blackie1
Posts: 36
Registered: ‎06-26-2012
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Re: Navy Federal Maximum Loan

According to some of your recent posts y"ou have a credit card with Navy with a 1000 credit line and were declined for a CLI, so getting a 50000 loan to buy a jeep IMHO is thoroughlyridiculous!!

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