OK, so I was about to give up and take a really nasty loan until I could refinance in a year once I had credit. I did a search on first time car buyers and came across HUGHES FEDERAL CREDIT UNION in Tucson, AZ.
I applied online but then called them before they even had achance to look at it. I spoke with a rep and she was extremely nice.
I was approved for a $23K loan with taxes and everything at 4.5% with 15% down. Bought a 2012 Dodge Journey with 8K miles loaded to the max. They originally preapproved me for $15,600 but said I could go a little higher but not much more than $10,000 over that. That was a lot to work with!
The only quirk was I have to be a member and deposit $50 to open an account. And to qualify I had to donate $10 to the Tucson library! No probalem! I am now an honorable member of the Tucson library.
I was about to take a 24% loan from CarMax so this was a huge blessing. I drove the car off Friday night and this morning we had a couple changes to the contract but signed and it's mine.
Now its time to start planning for my home loan. This is the credit I will need to get that going in 6 months to a year.
Thanks everyone who posts here on the forums. I could not have done it without your advice.
Congratulaions! You did the right thing by going to a CU. Sounds like you got a great deal on the financing.
Thanks, if anyone wants to try Hughes Credit Union in the future feel free to message me and Ill send contact info to the lady I was dealing with.
Thanks for your support too.
Hughes is FANTASTIC with car loans. I love them. Congrats on the approval. Keep in mind that they will use the same hard pull from joining for 90 days on any credit product that you apply for.
My credit score at the time was:
Experian (Does not show up for FICO) because of lack of history
Transunion (Does not show up for FICO) because of lack of history
There is no way I would have got the loan if I did not call in and speak to a person and explain my situation. They gave me a first time buyers loan.
If I get a non Fico score pulled my TU is about 665 and my EX is about 670 and my EQ is about 702.