Reply
Community Leader
Valued Contributor
Posts: 2,777
Registered: ‎07-12-2012
0

NFCU auto loan question..

Does anyone have any experience with obtaining an auto loan through NFCU after a bankruptcy? I was planning on waiting 1yr post bk7 to apply and was just wondering. Thanks!

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
721 EQ FICO 06/2015
720 TU FICO 06/2015
727 EX FICO 06/2015
$14k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $5.4k Cap1 Quicksilver | $6k Amazon Store | $11k Cap1 VentureOne | $5k Barclay US Airways | $500 Chase Freedom
Frequent Contributor
Posts: 401
Registered: ‎03-01-2012
0

Re: NFCU auto loan question..

Not through NFCU, however I was just approved at 10.99% through Wells Fargo - discharged on Oct 31 of last year.......

Filed BK7: 7/12 (discharge 10/12) 5/12- EQ FICO - 508 / TU FICO - 490
EQ FICO: 677 (02/15)
TU FICO: 651 (02/15)
EX FICO: 671 (02/15)
NFCU cashRewards $18k - NFCU Flagship Visa $18k - First Tech C.U. Cash Rewards $5k - Cap1 Venture - $10k - Barclays Apple Card $2k - Discover $1,000 - JCrew $4650
Community Leader
Valued Contributor
Posts: 2,777
Registered: ‎07-12-2012
0

Re: NFCU auto loan question..


grassfeeder wrote:

Not through NFCU, however I was just approved at 10.99% through Wells Fargo - discharged on Oct 31 of last year.......



Wow! Congrats on the approval, not a bad rate to be so fresh out of BK. My BK was discharge 10/2012 as well Smiley Happy  I included a Wells Fargo cc in my BK so I am not too sure how that will go :/

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
721 EQ FICO 06/2015
720 TU FICO 06/2015
727 EX FICO 06/2015
$14k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $5.4k Cap1 Quicksilver | $6k Amazon Store | $11k Cap1 VentureOne | $5k Barclay US Airways | $500 Chase Freedom
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: NFCU auto loan question..

Prestige Financial is a subprime lender that offers auto loans to those whose bankruptcy has been discharged. Their website is www.gopfs.com
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Community Leader
Valued Contributor
Posts: 2,777
Registered: ‎07-12-2012
0

Re: NFCU auto loan question..


MovingForward_2012 wrote:
Prestige Financial is a subprime lender that offers auto loans to those whose bankruptcy has been discharged. Their website is www.gopfs.com

I will look into that when the time comes! I would really prefer to aquire the loan through NFCU though. I want to establish as much of a relationship with them as I can haha.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
721 EQ FICO 06/2015
720 TU FICO 06/2015
727 EX FICO 06/2015
$14k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $5.4k Cap1 Quicksilver | $6k Amazon Store | $11k Cap1 VentureOne | $5k Barclay US Airways | $500 Chase Freedom
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: NFCU auto loan question..

I agree that applying with NFCU should be first and then try subprime lenders as a backup. Prestige is a good first lender to try if NFCU falls through. Good Luck! :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Highlighted
Community Leader
Valued Contributor
Posts: 2,777
Registered: ‎07-12-2012
0

Re: NFCU auto loan question..

Awesome! I am going to wait until I have a one year relationship built up with NFCU before applying for the loan. Hoping for the best! This Nov will be one year post NFCU secured card opening.
Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
721 EQ FICO 06/2015
720 TU FICO 06/2015
727 EX FICO 06/2015
$14k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $5.4k Cap1 Quicksilver | $6k Amazon Store | $11k Cap1 VentureOne | $5k Barclay US Airways | $500 Chase Freedom
Established Member
Posts: 50
Registered: ‎11-06-2012
0

Re: NFCU auto loan question..

NFCU wants to see 6 months auto history usually before granting an auto loan after BK, however an installment loan may help with that - such as a secured share loan.  IF you get a subprime auto loan now, and try refinancing with NFCU after 6 payments have posted - that is almost a guaranteed approval.

Filed BK 7: 2/28/2012 | Discharged: 7/24/2012
POST BK APPROVALS:
NFCU nRewards Secured Visa: $1000 7/12| Apple FCU Secured Visa: $1000 9/12
Toyota Finance Lease: 0% | 0.0008 MF 10/12
Barclay Apple Finance Visa: $2200 1/13
NFCU cashRewards Visa: $2500 3/13

Community Leader
Valued Contributor
Posts: 2,777
Registered: ‎07-12-2012
0

Re: NFCU auto loan question..

Thank you very much for that info. I have two paid perfect history auto loans on my credit, BUT I also included a desert schools auto loan in BK. Wonder if that would help.. I will still try them first while shopping. Smiley Happy
Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
721 EQ FICO 06/2015
720 TU FICO 06/2015
727 EX FICO 06/2015
$14k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $9k Barclay Arrival WEMC | $5.4k Cap1 Quicksilver | $6k Amazon Store | $11k Cap1 VentureOne | $5k Barclay US Airways | $500 Chase Freedom
Established Member
Posts: 50
Registered: ‎11-06-2012
0

Re: NFCU auto loan question..

Post Bankruptcy, if the two were before it won't matter to NFCU since they do not use auto-enhanced scores for auto loans.

 

Now on the other hand, those two if before the BK will help your score when a dealer runs it.  

 

For example: NFCU turned me down 3 months post-bk with a 600 score an told me, 6 months post-bk auto history.  Now, the same day I went to Toyota, and they pulled 650 auto-enhanced score, because I had 3 perfect paid auto loans before bankruptcy.  Walked away with 0% on a 2013 Toyota and my BK was barely 3 months old - they didn't even flinch or ask about it, it was like the BK wasn't even there.  Good luck Smiley Happy

Filed BK 7: 2/28/2012 | Discharged: 7/24/2012
POST BK APPROVALS:
NFCU nRewards Secured Visa: $1000 7/12| Apple FCU Secured Visa: $1000 9/12
Toyota Finance Lease: 0% | 0.0008 MF 10/12
Barclay Apple Finance Visa: $2200 1/13
NFCU cashRewards Visa: $2500 3/13

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.