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NFCU auto loan question..

Community Leader
Senior Contributor

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
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 1 of 15
14 REPLIES
Frequent Contributor

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.......

Message 2 of 15
Community Leader
Senior Contributor

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
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 3 of 15
Valued Contributor

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
Message 4 of 15
Community Leader
Senior Contributor

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
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 5 of 15
Valued Contributor

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
Message 6 of 15
Community Leader
Senior Contributor

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
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 7 of 15
Established Member

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

Message 8 of 15
Highlighted
Community Leader
Senior Contributor

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
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 9 of 15
Established Member

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

Message 10 of 15