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Valued Contributor
Posts: 2,344
Registered: ‎08-25-2016
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Nephew is looking for a vehicle, thun file, best CU

I know some of his information and can estimate the rest. Trying to see if NFCU, DCU, or Penfed would be better for him.

AAoA 15 months
Fico 08 Scores 750 range
No inquiries
No derogs of any kind
No bills

Income 2500-3500 monthly
About 2-3k for a down payment

No specific vehicle in mind, would prefer a truck, but basically wants a dependable one.
Valued Contributor
Posts: 1,304
Registered: ‎01-31-2008
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Re: Nephew is looking for a vehicle, thun file, best CU

You also may want to research 'First time auto buyer'.

Many manufacturers have programs to help first time buyers with good credit (check), income (check) but little history (check).

There are usually limits on amount etc but it is another option.


PenFed is a fairly safe option as it will only be one Equifax pull for him to open a checking account and any other products he might need. Even adding a car loan will not result in another HP.


The thing that may hold him back is the range of income listed. If he is a W2 employee that is often easiest to prove income with. If he is self employed or has variable income it may present an additional challenge.


Good luck and let us know how he does...

Valued Contributor
Posts: 2,344
Registered: ‎08-25-2016
0 Kudos

Re: Nephew is looking for a vehicle, thun file, best CU

He's a W-2 employee. I'm estimating the income based and the average starting pay in the area for his job and the hours he's working. Should be fairly close.

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