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I'm a member at both and I'd like to use either the USAA car buying service and loan or NFCU car buying service and loan. I'd prefer to avoid too many HP on my credit so I'd like to just use one service and app for one loan...especially given that it sounds like I may end up getting a HP at whatever dealership I get the car from (which is fine...assuming they give a lower rate.)
Looking for advice on who is the better selection given my choice of vehicles, credit profile, etc.
I'm looking to get either a new or slightly used Audi Q5 Hybrid or 3.0TPremium or a BMW X3.
Income before bonuses and stock: $144k
Income w/bonus/stock: $211k
Will probably put down $10-$15 k plus trade in (maybe worth $3k) and finance around $30-$35k
Credit profile:
EQ:
717 FICO
1 (bogus) CA account from 2008 which I will hopefully get deleted soon
5 Tax liens, all paid, most recent from 2 years ago
2 revolving CCs
BofA Car Loan - All positive, paid on time, DOLA Jul, 2003
TU:
686 FICO
1 (bogus) CA account from 2008 which I will hopefully get deleted soon
5 Tax liens, all paid, most recent from 2 years ago
2 revolving CCs
BofA Car Loan - All positive, paid on time, DOLA Jul, 2003
EX:
771 USAA FAKO
No collections
1 paid tax lien
2 revolving CCs
BofA Car Loan - All positive, paid on time, DOLA Jul, 2003
I used navy for my loan. Told them the amount and they sent the check. I bought using overseas delivery program a new volvo with no trade in. They required no documents and the loan check was good for up to 125% of the nada value of the car. I received one HP on EQ. They pulled a 694 and I got 1.79% for 5 yrs. I did not use their car buying service. The dealership did not pull my credit. Transaction went super smooth. The check was good for 60 days. I submitted the check to the dealership on day 55 and they did not repull. Very pleasant experience. I put down 3800 on the car for my own peace of mind (it wasn't required)
The check took 2 days to show up in my mailbox. They could probably overnight it if asked.I noticed that slightly used cars were just as pricey as new cars when I was car shopping.
The X3 is one of USAA's preferred vehicles. You would be getting a pretty good deal on a new one. Plus, the price that you get through USAA is not always the lowest the dealer will go. The X3 looks pretty well priced vs the audi.
Just something to think about. New vs used. Plus, you would have a hard time finding a used audi hybrid. That awesome fuel mileage would be nice, but is it worth 50k?
I like USAA more than NFCU.
"I used navy for my loan. Told them the amount and they sent the check. I bought using overseas delivery program a new volvo with no trade in. They required no documents and the loan check was good for up to 125% of the nada value of the car. I received one HP on EQ. They pulled a 694 and I got 1.79% for 5 yrs. I did not use their car buying service. The dealership did not pull my credit. Transaction went super smooth. The check was good for 60 days. I submitted the check to the dealership on day 55 and they did not repull. Very pleasant experience. I put down 3800 on the car for my own peace of mind (it wasn't required)
The check took 2 days to show up in my mailbox. They could probably overnight it if asked."
Same rate and term from NFCU. 2014 Jeep Grand Cherokee, put down $10k to keep the payment lower. Took all of 5 minutes for pre-approval. I also bought from Overseas Car Sales www.encs.com It won't be delivered until August when I get back on vacation.
I don't even have a VIN yet, the vehicle isn't built. But ENCS is licensed to operate on military bases, so they have dealt with NFCU thousands of times.