Got Pre-approved for and NFCU Auto Loan and Not Impressed

[Anonymous]

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? 

[dunn2500]

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.....

[Appleman]

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.

[Loquat]

I agree with others that have posted. NFCU is great for a lot of things but in my experience, they've never been able to beat PenFed for me as it relates to auto loan rates.

[Anonymous]

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. 

https://www.navyfederal.org/loans-cards/auto-loans/auto-rates.html#rates