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Did my homework. Do I pass the test?


Did my homework. Do I pass the test?

FICO 8 Scores: 

692 (Eq) 709 (Trans) 677 (Exp) 


FICO Auto (5,4,2) 

679, 700, 702 


(2 past thirty mortgage pmts from 6 years ago, high revolving credit usage versus avail credit, but DTI around 26%.)


Buying a 2022 Chevy Silverado RST  (refresh) 

MSRP $57k 

Out the door for $54k (due to GM employee discount). 

Putting $7k down 

Financing $47k  


Gave the dealer my scores and Approx rate they told me was 4-6%. (Ouch)


Cap One didn't have the VIN in their system, but dealer does participate in their program. Pre approved for same model truck at near the same price at 3.13% for 72 mos. 
Called dealer and gave them the approval number and filled out an app online with a hard pull. Dealer called me back and said they can't do any better and they'll honor the 3.13%. 

Then did an app at NavyFed with a hard pull and they came back at 3.99% . Just in case the dealer tries to pull any funny stuff, I'll swing by the branch and pick up the check in the morning before driving 2 hours to get the truck. 


Anywhere else I should check for a better rate? 



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Re: Did my homework. Do I pass the test?

Check PenFed, it's a soft pull and they'll offer various rates and term lengths. 

PenFed gap is $449 and you can buy it after a few days of the loan being on your account.


You will have to pay it with a debit/credit card, can't roll it into your loan. 


Post pictures of the new ride!!

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