So NFCU pre-approved us for 16,000 for a new car at 3.99% APR at 250.42 for 72 months. I was really aiming for 2.29% APR, their lowest rate for a new car. I really thought we were at a good standing. I have credit score of about 776 and my husband has a score around 779. Gonna see if our dealer can give us something better. I'm pretty dissapointed because I wanted the lowest rate possible but what do you think? Is this a good rate for a car loan?
Navy is awesome but not necessarily the lowest auto rates......DCU or pen fed, maybe even a small local CU, or yeah if captive lender at dealer can beat it why not.....
NFCU has their own score. I recently purchased a vehicle and the dealer pulled an 842 as compared to 754 with NFCU. This did qualify me for their 2.29% rate.
NFCU should send you the score they utilized in approving your loan. Remember, NFCU looks at a number of factors in addition to a credit score.
It's my guess that the rate you received is higher than the lowest because you have a 72 mos loan. When you look at the rate information for auto loans the lowest rate only appears to be possible with loans up to 36 mos.