topic Re: Another Luv NFCU thread in Credit Cards

Another Luv NFCU thread

smallfry — Thu, 25 Sep 2008 22:51:48 GMT

The old clunker decided to die yesterday. Got my approval on the phone for the new car loan before the tow truck arrived. Dealer was kind enough to drive me to the local NFCU branch here in NJ to pick up the bank draft to pay for the car. Drove out with the new car by early afternoon. Navy makes days like that almost bearable.

Re: Another Luv NFCU thread

2009 — Thu, 25 Sep 2008 23:03:56 GMT

Congratulations!!!! If you don't mind me asking how much were you approved for? What rate? What were your credit scores?? That's great that you can just call up the bank and get approved right away to go and buy new vehicle. By the way what type of car did you purchase?

Thanks,

2009

Re: Another Luv NFCU thread

smallfry — Thu, 25 Sep 2008 23:12:02 GMT

I was approved for 36K spent 24K Toyota Camry. Guessing EQ in the neighborhood of 696. He said they pull the Beacon score. That the score we pull here at FICO? 6.25% 60 months 0 down. GAP $249. Dealer offered (no pull) Toyota Vehicle at 4.9%. Difference was $15 per month but no GAP. That close and I give my CU the biz. Since I had refi'd with NFCU June 2007 and paid virtually the entire loan off in 13 months I thought they would do better than the 6.25% but considering the lowest rate offered on the website is 5.25% I guess I can't kick too much about it. Nice getting the car with just 1 Equifax pull.

Re: Another Luv NFCU thread

haulingthescoreup — Fri, 26 Sep 2008 11:32:52 GMT

Ah, that's great! Getting the loan before the clunker went on the hook; that's perfect. They need to put you in a commercial!

Yes, myFICO uses the EQ Beacon 5.0 (pretty sure that's the version number.)

Re: Another Luv NFCU thread

Anonymous — Fri, 26 Sep 2008 15:34:12 GMT

Okay, it's confirmed. I definitely getting in w/ Navy while I can.

Congrats and thanks for sharing!!!!!!!!

Re: Another Luv NFCU thread

Anonymous — Fri, 26 Sep 2008 17:05:19 GMT

Congrats on the car approval!

I did the preapproval for an auto loan on their website last week to see what rates they would offer. I asked for $25,000 and got the need more time message.

I then went to the dealer and they agreed to give me the "Well qualified buyer" financing, 2.9 percent for life of the loan. I took that, assuming it would beat any other loan offer.

Re: Another Luv NFCU thread

Anonymous — Sat, 27 Sep 2008 11:29:47 GMT

Super Congrats smallfry!!!

I agree with HTSU. Navy Fed should put you in a commercial

cuz that level of service is above and beyond the call of duty.

And you made the right call. A new car loan with GAP beats

another loan without it every time. If anything happens, you pick

up the phone and call the same folks who gave you the loan in

the first place. That's neat, clean and easy.

Once again, Congratulations on the new car loan. Enjoy!!!!!

CanDo

"The right attitude is everything"

Re: Another Luv NFCU thread

moondog7324 — Wed, 28 Jan 2009 23:25:00 GMT

Another nice thing about NFCU- they let you make bi-weekly payments- if you do that- your true interest rate will be reduced even more- and you can shave about 8 months off a 60 month loan. NFCU has a calculator to figure it out.

Re: Another Luv NFCU thread

preci0uz — Thu, 29 Jan 2009 00:17:06 GMT

omg that is amazing, congrats!!! I hope you like your new car!!! Speedy business!

I can't wait to apply for a CC at NFCU, one more month, just one more month.

Re: Another Luv NFCU thread

oracles — Thu, 29 Jan 2009 05:57:12 GMT

@smallfry wrote:
I was approved for 36K spent 24K Toyota Camry. Guessing EQ in the neighborhood of 696. He said they pull the Beacon score. That the score we pull here at FICO? 6.25% 60 months 0 down. GAP $249. Dealer offered (no pull) Toyota Vehicle at 4.9%. Difference was $15 per month but no GAP. That close and I give my CU the biz. Since I had refi'd with NFCU June 2007 and paid virtually the entire loan off in 13 months I thought they would do better than the 6.25% but considering the lowest rate offered on the website is 5.25% I guess I can't kick too much about it. Nice getting the car with just 1 Equifax pull.

Sorry for the ignorance lol but what is GAP?

BTW, Major Congrats Smallfry

Someone please help me to get into NFCU PLEASE

Message Edited by oracles on 01-29-2009 12:57 AM

Re: Another Luv NFCU thread

smallfry — Thu, 29 Jan 2009 10:37:26 GMT

GAP is best described as the insurance company will pay the balance of the loan off if your wife or girlfriend totals the car. LOL.

Re: Another Luv NFCU thread

haulingthescoreup — Fri, 30 Jan 2009 01:01:29 GMT

smallfry wrote:
GAP is best described as the insurance company will pay the balance of the loan off if your wife or girlfriend totals the car. LOL.

Hey, now. Or son or DH or BF or...

Gap insurance will pay off the loan even if you've gone upside down on the value of the car, which on a new car without a large down payment happens the moment you drive off the lot.

Liz Pulliam Weston on gap insurance