topic Re: NFCU approval in Auto Loans

NFCU approval

RobynJ — Mon, 10 Oct 2022 02:20:23 GMT

So our car took a turn for the worse and Navy helped us out. TU 9 779 loan for 40k.

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Re: NFCU approval

pizzadude — Mon, 10 Oct 2022 16:07:24 GMT

Congrats on the approval and new ride ! What terms / interest rate did they offer ?

Re: NFCU approval

RobynJ — Mon, 10 Oct 2022 16:15:39 GMT

@pizzadude wrote:
Congrats on the approval and new ride ! What terms / interest rate did they offer ?

I only have a 8 month old credit file and they gave me 72 months @ 6.29% not the best but I am happy with it considering I was even able to borrow 40k in the first place.

Re: NFCU approval

pizzadude — Mon, 10 Oct 2022 16:34:08 GMT

@RobynJ wrote:
@pizzadude wrote:
Congrats on the approval and new ride ! What terms / interest rate did they offer ?

I only have a 8 month old credit file and they gave me 72 months @ 6.29% not the best but I am happy with it considering I was even able to borrow 40k in the first place.

Agree, It's not their lowest rate but you can always refinance in the future if you find a better deal. Also it's been reported that NFCU will refinance their own auto loans so you can potentially drop your rate in the future with them.

Re: NFCU approval

FireMedic1 — Mon, 10 Oct 2022 22:36:25 GMT

Congrats on the new ride!

Re: NFCU approval

Mdowning30 — Tue, 11 Oct 2022 12:26:09 GMT

@RobynJ That is a decent deal but with your scores i think you could have scored a 3-4% APR. Not a big difference though.

Re: NFCU approval

babygirl1256 — Fri, 21 Oct 2022 07:30:27 GMT

Congats on the new loan . . . nice ride!!!

Re: NFCU approval

Gladius — Fri, 21 Oct 2022 13:56:53 GMT

@Mdowning30 wrote:
@RobynJ That is a decent deal but with your scores i think you could have scored a 3-4% APR. Not a big difference though.

3-4% vs. 6% is a big difference to some. NFCU "best" rate now for 72 months is 5.04%. I have seen some 2-3% rates for some credit unions but you have to be a resident of that state. It's gonna be awhile till we see rates below 3% across the board. Some auto manufacturers still have 0-2% rates but it is usually for bare basic models that are currenly on the dealer's lot that nobody wants.

Re: NFCU approval

MySunrise271 — Fri, 21 Oct 2022 13:53:09 GMT

Congratulations on your loan approval and new ride🎉🎉🎉

Re: NFCU approval

darkknight59 — Mon, 24 Oct 2022 16:30:01 GMT

@Gladius wrote:
@Mdowning30 wrote:
@RobynJ That is a decent deal but with your scores i think you could have scored a 3-4% APR. Not a big difference though.
3-4% vs. 6% is a big difference to some. NFCU "best" rate now for 72 months is 5.04%. I have seen some 2-3% rates for some credit unions but you have to be a resident of that state. It's gonna be awhile till we see rates below 3% across the board. Some auto manufacturers still have 0-2% rates but it is usually for bare basic models that are currenly on the dealer's lot that nobody wants.

Correct...5.04% is their best rate on 72 months