cancel
Showing results for 
Search instead for 
Did you mean: 

CUs

onmyway80
Valued Member

CUs

Does anyone know what type of things Credit Unions look for when dealling with auto loan approvals? I've read here that scores do not matter very much but what about having one item in collections.
Message 1 of 3
2 REPLIES 2
cobra19
Valued Contributor

Re: CUs

I got an auto lease with NFCU a few weeks ago. CSR told me my rate was based solely on my EQ credit score.  But (althought the csr didn't say this) I suspect they also looked at my  income.
 
 
New York Yankees - 2009 World Series Champions. 27... and counting.....
Message 2 of 3
Bran9192
Frequent Contributor

Re: CUs

My CU pulls EQ and rates are based on that score. However, my CU also requires a minimum income of 25K for any loan and if you have multiple loans, income must be higher. For example I had 1 auto note of 25K a year later my DH wanted a truck but didn't have any score because he never applied for credit and always paid cash so I financed the 30K truck note in my name and the minimum income required was 40K per year. Check the CU website it may have loan requirements on there. Hope that helps you & good luck!
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.