Auto Refi @ NFCU

[Anonymous]

Greetings to All,

This is my first post but I have read quite a bit of the helpful information you all have been writing.  I am in the garden and working on improving my scores across the board. My scores range from 595 to 623. I have had one 30 day late in 24 months that I have had my car loan due to a lay-off.

Question: what do you think my chances of approval for a refi with NFCU with this information that I have provided? I am currently with Cap One with 18% interest. Any feedback that you can provide will be helpful.

Thank you to Myfico family members!

[Anonymous]

you should be fine depending if you're financing under 125%. they're lenient on autos

[Anonymous]

I will give you my dealings with NFCU so far.  I refinanced my vehicle 4/15 for a little over 29k @ 2.99 with NFCU, at the time my EQ was 669 according to them, slightly higher than yours. However, I had two 30 days lates that were about 19 months old and a foreclosure from Jan. 2012 showing. My util. was less than 10% at the time.  Today I was approved (didn't even know they worked over the weekend, gotta love em) by Navy FCU for another used car loan for 24k at 3.29%, same lates listed above just aged to just over 24 mos and the foreclosure showing.  According to CCT, my current Fico 8 is 685; I am unsure of my EQ 05 score which I believe NFCU uses.  Today's loan, I added my son who is a full time student with basically no income and less than a year of credit history, but better scores than mine, go figure lol. They have been great for me and I have more baddies than you, still YMMV, I say go for it.

[Anonymous]

Thank you for your response. This has been very helpful.