Carvana pre qualified

[Roadgeek395]

So I got pre qualified from carvana at 12-13% APR. I honestly think that APR is ridiculous! I have good credit but have never had an auto loan before. Is a high APR common with carvana? 

Where else can I pre qualify online? I haven't pre qualified for capital one yet but will get the ball rolling with them and see what they offer. 

I meet the terms for a 3.625% APR auto loan through my local credit union but I wanna see if anyone can beat that.

Thanks in advance for any help and advice 

[dunn2500]

its tough to beat credit unions....what are your auto scores?

[Roadgeek395]

Thanks for the reply, my FICO auto score 2 is 723 and auto score 8 is 721

[dunn2500]

i would take the credit union deal or shop more credit unions.....i used Pen Fed because they use my highest score out of all my scores ( F9), it helps to know which lenders pull from where but auto 8 is a very popular one..

navy, dcu, pen fed and few others consistently give low rates but have seen people beat them with local smaller ones at times......

[Roadgeek395]

Thanks for the advice. I'm pretty sure I'll use my local credit union unless I can find something better.  

[DebtStinks]

@Roadgeek395 I'd say go with your credit union where you meet the terms for 3.625%. That's a great rate considering you have no auto credit.

Best of luck!

[Roadgeek395]

Thank you! That gives me peace of mind. I hope to buy a truck in the next couple of weeks so I will keep you posted on the final outcome. 

[Brian_Earl_Spilner]

Captive financing beat nfcu for me

[Roadgeek395]

That's interesting, I will definitely do my research before I make my final decision. Thanks for the response!

[dunn2500]

my auto score for pen fed is around 737 with perfect auto history last 2 years and I just got 3.39% for 72/mo...... so 3.69% seems pretty good (obviously longer the term the higher the rate and you didnt say the term but still)

i just bought a new truck yesterday funny enough......flew to Arizona at 2pm and got back to LA at 10pm, lol......it was 4-5k cheaper (than local) and cost me a plane ticket for $47 and long drive....totally worth it and research really paid off........good luck on your new truck bro