Applied for DW auto loan
Capital One Prequal - Approved but no apr in the letter. DW has Checking/Saving a/c with Capital one.
DCU - Approved with 4.24%. Asking for PO docs to upload
Penfed - rejected due to some vague reasons- Unable to approve due to some lack of loan information. CSR not saying what is being missing. I dont know how to deal with them. DW infact have a penfed card as AU from my credit card. Still missing info?
Local CU - Submitted the app, put the $5 for membership. Uploaded some docs they asked for. Still waiting.
Is DCU rate good to move on? Yet to go to Subaru dealer finance team.
DW scores are around 760's across 3 BRs.
Inq TU-3, EQ-0, Ex - more than 6. 2 HPs recent on EX
@Anonymous wrote:DCU uses Equifax mortgage score which may be different than the score you are looking at.
The 4.24% is not listed on their rate site and is 1/2 point higher than up to 65 month rate listed on their site.
Did they say she qualifies for their best rate?
Also if you go with DCU seriously consider the GAP insurance even if putting money down. For a 1 time $299 fee in the event of a total loss they cover the loan, reimburse your insurance deductible and give you $1,000 if you finance a new loan with them.
DCU also offers a .25% discount if you have a checking account with direct deposit and may still be running the same promo where first payment not due for 60 days.
Yes, We spoke to DCU. They pulled her EQ -741.
They said they can give 3.74% if I open a free checking a/c for DW. But only catch is they are asking to get entire paycheck deposited in order to get that 0.50% discount. I am confused. Is that true? or I can do the partial direct deposit of around $1000 per month? DW already has DD in two other banks Checking a/c.
I would check Cap One prequal online.
I got 2.49% for 72 months with no uploads.
Could not have been easier at dealership.
I had lower scores than you but use Cap One cards a lot.
GL!
@Shooting-For-800 wrote:I would check Cap One prequal online.
I got 2.49% for 72 months with no uploads.
Could not have been easier at dealership.
I had lower scores than you but use Cap One cards a lot.
GL!
U must have got your loan some time ago with the Fed rate hikes money is costing more to borrow looks like Cap 1 lowest rate is 3.99%.
@bigpoppa09 wrote:
@Shooting-For-800 wrote:I would check Cap One prequal online.
I got 2.49% for 72 months with no uploads.
Could not have been easier at dealership.
I had lower scores than you but use Cap One cards a lot.
GL!
U must have got your loan some time ago with the Fed rate hikes money is costing more to borrow looks like Cap 1 lowest rate is 3.99%.
Good point.
2 years ago.
Although my Venture only went up .75% from 13.99% to 14.74%
@bigpoppa09 wrote:
@Shooting-For-800 wrote:I would check Cap One prequal online.
I got 2.49% for 72 months with no uploads.
Could not have been easier at dealership.
I had lower scores than you but use Cap One cards a lot.
GL!
U must have got your loan some time ago with the Fed rate hikes money is costing more to borrow looks like Cap 1 lowest rate is 3.99%.
Yes, this is correct. DW got the cap1 auto loan rate as 3.99%.
I also applied in the local credit union . they said they will offer based on down payments. for our case, they said they will give 3.49%
BOFA approved her for 3.59%
Got the call from Local CU that they approved DW auto loan for 3.49%. I think this is the lowest rate I have got. Plus they are also asking for $75 as VSI fees. Not heard about this before when I took the penfed auto loan.
Buying the GAP from them. Options
- Can pay onetime $299
- Can pay $5 per month for 60 months.
Which one is a good idea? one time Gap or month-on-month, Provided if I plan to do the refi later?