Re: Should I apply for an auto loan yet? NFCU
09-25-2012 09:43 AM
I don't need a car right now, but my current car (we only have one) is having mechanical problems to the point where I can see within the next 6 months it will need to be replaced. I own it outright and it is worth around $8,000. My reason for posting is to see if I would get a favorable loan through NFCU with the open collections so I can avoid the maintenance issues, or if I would benefit from paying the collections. Basically, if a higher down payment but old open collections or a lower down payment and paid collections (not deleted) would offer a better chance of getting a loan.