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Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Ordering a Volvo from Dealership....

[ Edited ]

I'm going to be ordering a Volvo from the Dealership for purchase....  I know I probably qualify for Volvo financing, but I want to use NFCU.  Should I get pre-approved for the loan before I order the car?

 

I already talked to NFCU asking questions about the loan, they said I wouldn't have any problems when it was time. I plan on applying as primary, my husband will be secondary on the loan.  NFCU will use the primary applicant's score to base the APR off of.

 

I'm closing on a mortgage Refi on Oct 16.   I want to order the car on Oct 17.

 

Will I be ok if I wait to apply for the loan, I wont need the loan for another 6 weeks after today? 

 

I'm taking overseas delivery, and I will need to turn in the funds to the dealership at least 30 days before I leave on my trip to Europe.

 

 

I currently have a LOC with NFCU for 15k

 

and a Visa Signature with them for 22k at 12.65%

 

Our combined income is 180k

 

We pay 2 mortgages....   1st mortgage is for 1430.89    2nd mortgage is for rental property, the new note will be $950, it used to be $1465.  Only other bills are truck note of $550 and student loan $189.

 

I owe $500 on the credit card at this moment, but it will be paid in full by the 15th.

 

 

 

 


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Frequent Contributor
germaine47
Posts: 305
Registered: ‎07-05-2011

Re: Ordering a Volvo from Dealership....

Congratulations on the Refinance.  My sister did the same in purchasing her car while in Japan and took delivery for the car once she arrived in the U.S.  The process was painless, she was approved several weeks prior to her arriving home.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Ordering a Volvo from Dealership....

So should I wait tip late November to apply for the loan or should I do it before I order the car?

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Ordering a Volvo from Dealership....

Did your sister use navy federal?

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Ordering a Volvo from Dealership....

Update:  Preapproved for loan through NFCU, 1.79%  45k

 

:smileyhappy:


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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MyFICO Fitness Goal: 800s Club!



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Frequent Contributor
germaine47
Posts: 305
Registered: ‎07-05-2011

Re: Ordering a Volvo from Dealership....

She is Navy, but I am not sure where she financed.  She had the car delivered to Alabama, site unseen and walked into the dealership in less than 30 minutes and was on the road.  It amazes me how true Credit Diligence pays off.  I am genuinely happy for you.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Ordering a Volvo from Dealership....

[ Edited ]

Thank you Germaine! I bought my last three vehicles there and I really trust their finance and service department. The finance manager; who I will nickname Bob; goes out of his way to make me feel comfortable. My first transaction happened after I had walked away from the dealership to at least look at other cars. When I came back it was because there was no pressure and I was sure that the car was a great deal. He got me set up with volvo financing even though my credit wasn't great. The next car he got it for 7.5% in 2011 with a credit union. Ford would have done 13.5% but I told him I needed something better than that. So he made calls to a local credit union and got me hooked up. At least this time I already have my financing :smileyhappy:


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Ordering a Volvo from Dealership....

Bob was the one who told me about overseas delivery. I found out later that the dealership doesn't even make money from the overseas delivery program. Its basically volvo factory pricing.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Valued Contributor
trumpet-205
Posts: 2,177
Registered: ‎11-11-2010

Re: Ordering a Volvo from Dealership....

[ Edited ]

Dealership makes money even when they sell it at invoice price (facotry price). Factory will give them additional bonus for each car that is sold. Salesperson just don't want you to know it. Beside, you pay for destination fee, not dealership.

 

What Volvo did you order?

In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Ordering a Volvo from Dealership....

[ Edited ]

Haven't ordered yet but I will order one that is xc 90 r design. Platinum plus package with AWD. Caspian blue metallic exterior and two toned beige and black leather interior. We are getting climate package; the nav package. BLIS and back up cam. I cant live without booty warmers lol


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge

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