topic Re: Navy Federal Auto Loan 7 months post discharge in Bankruptcy

Navy Federal Auto Loan 7 months post discharge

southernblueeyes — Thu, 22 Oct 2020 09:20:20 GMT

Navy Federal is amazing!! Bk7 discharged just 7 months ago in March 2020. I thought no way I would get approved for an auto loan already. Approved instantly for the full amount I requested. My original plan was to wait til Spring and get a 2021 Acura TLX Type S but with the economy the way it is I didn't want to get stuck with a high car payment. Found a 2016 Honda Accord EX-L V6 with only 38,500 miles. 48 month loan @ 8.49%. I can't remember the last time I had a $400 car payment. Lol! My last car was $1100 a month @ 6% interest. I'll be paying extra monthly to pay off earlier. So very happy with the deal!! And thankful for interest rates in the single digits!! Could not be happier with NFCU!!

Re: Navy Federal Auto Loan 7 months post discharge

Shooting-For-800 — Thu, 22 Oct 2020 11:47:03 GMT

Navy can be very generous.

Congrats!

Re: Navy Federal Auto Loan 7 months post discharge

Anonymous — Thu, 22 Oct 2020 11:56:05 GMT

Congrats on your approval!

Re: Navy Federal Auto Loan 7 months post discharge

LakeLife — Thu, 22 Oct 2020 13:02:28 GMT

Hard work pays off! Congrats! Honda's are great little cars. You made a wise financial decision.

Re: Navy Federal Auto Loan 7 months post discharge

AllZero — Thu, 22 Oct 2020 15:27:35 GMT

Congratulations on your approval! Enjoy your new ride.

Re: Navy Federal Auto Loan 7 months post discharge

tywonagain — Fri, 23 Oct 2020 11:51:58 GMT

Congrats on the approval, what were your scores?

Re: Navy Federal Auto Loan 7 months post discharge

coreyb80 — Fri, 23 Oct 2020 12:45:55 GMT

Congrats on the approval!

Re: Navy Federal Auto Loan 7 months post discharge

Gr4bGames — Fri, 23 Oct 2020 13:37:32 GMT

Were you a member of Navy Federal when you applied? I have not used NF but have heard a lot about them recently. I am in the filing process now and would like to have something to look forward to. Do they require membership for their loans or are they available to non-members?

Re: Navy Federal Auto Loan 7 months post discharge

southernblueeyes — Sat, 24 Oct 2020 00:21:17 GMT

@tywonagain wrote:
Congrats on the approval, what were your scores?

622 EX8

647 EQ8

607 TU8

694 EQ9

Thank you!

Re: Navy Federal Auto Loan 7 months post discharge

southernblueeyes — Sat, 24 Oct 2020 00:23:02 GMT

@Gr4bGames wrote:
Were you a member of Navy Federal when you applied? I have not used NF but have heard a lot about them recently. I am in the filing process now and would like to have something to look forward to. Do they require membership for their loans or are they available to non-members?

They require membership. I got my membership through both my grandfathers being Navy veterans.

Re: Navy Federal Auto Loan 7 months post discharge

Honeykissez — Sat, 24 Oct 2020 01:45:45 GMT

Congratulations!!!! And thank you for this because I want to apply for an auto loan with Navy but didn't know if they would approve with a bk. I only discharged in August so I'm trying to wait as long as I could. How much of a loan did they approve you for?

Re: Navy Federal Auto Loan 7 months post discharge

southernblueeyes — Sat, 24 Oct 2020 22:49:25 GMT

@Honeykissez wrote:
Congratulations!!!! And thank you for this because I want to apply for an auto loan with Navy but didn't know if they would approve with a bk. I only discharged in August so I'm trying to wait as long as I could. How much of a loan did they approve you for?

Did not do a pre-approval so not sure how much they would preapprove. I wanted to put $5000 down so I only asked for the difference which was about $17,500. They gave me the option for four, five or six year loan. I chose 4 years but will probably pay off in three years.