Looking to get a 2nd NFCU auto loan, keeping existing auto loan too

[FirstAscent]

Hey everyone,

I recently ordered a new truck which won’t be arriving for approx 2 months so starting to plan for the auto loan.

I currently have an auto loan with NFCU that I’ve had just over a year, about 55k remaining. All in good standing.

I also just last week got approved for an NFCU platinum card I wanted to do a balance transfer of my other 3 cc’s.

My EQ at the time of my current auto loan was around 675 and I was approved at their lowest rate at the time, it’s a little lower right now solely due to higher utilization but I fully expect it to be similar or a little higher when I apply for this 2nd auto loan.

I’ll be putting a good chunk down but will still need to finance $45k.

My current DTI is about 26%, this new loan would take me to about 32%.

I’ll be keeping both vehicles, I’ve never had two auto loans at once and would like to stay with NFCU for this loan as well.

Does anyone know how NFCU handles multiple auto loans? Is it any different than just one loan? Will they ask if I’m replacing my existing loan? Which I’m not.

Thanks for any info you all may have as always much appreciated!

[TattnallTrio]

NFCU wouldn’t do a second auto loan for my ex. But Capital One had no problem with it.

[FirstAscent]

Interesting, thanks for your input!

[Gladius]

I didn't realize you could order a vehicle from the factory without having financing already in place (unless you paid cash).

[FirstAscent]

Yeah it changes slightly from different manufacturers and dealers but in my experience, more often than not, it’s super easy to do a factory order. A lot of times they don’t even require a deposit.

[RCFL]

I got my second auto loan from NFCU with no issue. Currently paying 2 loans ...