Auto Loan

[SSH0126]

Which credit unions are most likely to approve my application? It's important to note that I don't have a formal relationship with any credit unions. NFCU I am an auth user on a credit card.

Here are my credit scores:

Experian 

FICO 8 (665)

Auto Score 9(672) 

Mortgage 724 

Transunion

FICO 8 (679)

Auto Score 9(685)

Mortgage (699)

Equifax

FICO 8 (698)

Auto Score 9(733)

Mortgage (696) 

Debt-to-Income Ratio (DTI) is 1%(waiting on CBs to catch up showing 22%)

Household Income is $185,000

Considering Tesla Y @65k or Porsche Cayenne $85k

Derogatory marks:

(BK) from 2016, which is reported on Experian and TransUnion but not on Equifax.

One late payment on a Discover card in April 2022 30 days late

Account #2 has late payments in January 2018 and September 2018.

Given this information, which credit union(s) would most likely approve my application?

[CreditCuriosity]

Hit or miss.  Can you become a member of NFCU?  do you have installment/auto loan history at all on your CRA's?  Reason I ask is even though income is sufficient if never have had a big car payment likely could get turned down for that amount of payment alone called "sticker" shock.  Doubt you will get best rates from any Bank or CU with current scores and economic conditions and UW for auto loans are tigther.  I would speculate a 8-12% rate.  NFCU best teir is 5.1x apr for 72 months and 4.8 for 60 months, but as mentioned won't obtain that with scores.  I think you will get approved, but things to consider is auto loan history and amounts before and what you are willing to pay APR wise and possible down payment.

[SSH0126]

Once my utilization reports I will be over 700 across the board. I am a member with NFCU and Penfed. Auth user on NFCU 16k limit. Have not had a car loan that high before. 

[lashaun3]

Hey there, if you're a member at Penfed, you can use their pre-qual tool. It's a soft pull. 

[CreditCuriosity]

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@SSH0126 wrote:

Once my utilization reports I will be over 700 across the board. I am a member with NFCU and Penfed. Auth user on NFCU 16k limit. Have not had a car loan that high before. 

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if never had an auto loan before you might have trouble getting approved mainly for sticker shock being high payment unless you can put a decent amount down as usually auto loans they want you to start say at 30k then 50k then 80k etc..  Things could of changed, but that is how it use to be 10-15 years ago, but with defaults way up and not perfect credit i doubt you will get financed for a full 50-90k car without cash down, but I could be wrong and as mentioned you will not get the best rate with scores.  Let me know how it works out though.

[SSH0126]

I am a member. I have never used them for anything just a savings account that I do not use. Do you know which CB they use by chance? @lashaun3 

[lashaun3]

In April shortly after joining , I got a credit card with them and they pulled Equifax. I too have a savings with them that I don't use. Their pre-qualification is only a soft pull, which allows you to choose different options and see the proposed payment terms, etc.

[SSH0126]

I'll take a look. I don't have perfect credit and I've heard they are strict in the past.

[SSH0126]

Updated scores. 

Equifax

FICO 8 (698) 

Mortgage 5 (696)

Auto Score 9(733) 

Auto Score 8(724)

Transunion

FICO 8 (700)

Mortgage 4 (709)

Auto Score 9(720) 

Auto Score 8(723)

Experian 

FICO 8 (690)

Mortgage 2: (742)

Auto Score 9(719) 

Auto Score 8(719)