Hello Everyone,
I found out earlier this afternoon that NFCU approved me for
a new car loan! $20,000 for 6 years @ 6.25%. Payments are
about $334 a month and the APR range is 5% to 12.25%, so
I got in towards the low end.
My Equifax Auto Industry FICO was 678 at approval. The traditional
score (one we can buy here) was 671.
I'm buying a 2009 Hyundai Sonata and the dealership I'm buying
it from is delivering it right to my front door. How's that for service??!!
Navy Fed is mailing out the documents and check to me tomorrow
via Overnite FedEx and I'll get them Friday morning. I had to pay extra
for overnite delivery. Price: $3.50 . And no, that's not a mistake.
The guy in the loan department told me that they use NFCU's
3 million-plus members to drive down the price. For you and me,
overnighting something via FedEx runs about $15-20 depending
on final destination. For NFCU, it's $3.50. Pretty sweet, huh?
One last thing: I decided to get some quotes for some other vehicles just
for comparison's sake. The person I spoke to quoted me prices for "average credit".
When I asked what that meant, he said it ranges from 660-719. So for all
of you NFCU members out there, you now know what Navy Fed considers
average FICO scores. In other words, the "new 620" isn't just 660.
It's 660-719. So please keep this in mind as you apply for NFCU products.
Have a great night!!!!
CanDo
"The right attitude is everything"