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Hey guys so I am looking to get a car but I heard credit unions give the best APRs. I have an EXP of 679, TU and EQ of 630ish
Should I sign up for PenFed and get a checking account so I build a relationship until I am ready to purchase? OR
Try and strengthen my score THEN apply for a checking account that way 1 HP gets me the auto loan and a nice CC?
I see some 5ish% with the Capital One Auto Loan site so idk what to do.
Thanks.
For the best rate on the car loan and 1 HP (1 for membership, checking and auto loan), I would wait until your EQ is a little higher. Also you may want to look into DCU as well.
Thank you for the response, I always heard PenFeds the way to go. Yeah my EQ and TU are miserable, just paid down ALL CC debt down to $0 except one card reporting sub 10%.
I just wish there was a CU that pulled EX, then maybe I'd be finally be loved
PenFed is not always the lowest for auto loans.
I got apporved for 2.74% but dealer financing offered 1.9%.
Godo to have a pre approved auto loan before walking in to dealer to have options though and gives dealer financing something to beat.
They haven't updated yet. Sounds good Tiger, thanks again and the rest of you fantastic peeps!
And to add DCU uses fico 04 and PenFed uses Next gen. so with out knowing your EQ 04 score cant really give advice and u cant get your Next gen score nowhere Penfed is the only one that uses it so it would have to come from them.