My 2-cents on NFCU auto loan w/ BK

[pizza1]

I just wanted to post my very positive experience with NavyFCU.  Now, granted this experience was June 2014, and 3rd time applying ended up being a charm, lol. So, Ive had this loan now for like 15 months.

Anyway..Mine was for a refinance, not upside on the laon, matter of fact, my car was worth MORE than the loan amount i was asking for to refinace. I also had put down a big chunk initally, so already had equity. 

From the moment I was approved on the phone, I had all the info right there to give them to get pay off amount. They put me on hold, called Santander to verify PO amount, got pay off amount, got back on phone with me, told me the amount the new loan would be, and my payment/terms, and that was that!! 

Got the paperwork in the mail a few days later to sign, mailed them off, and the entire process took like a week. It was fast and painless, and Im SO happy to be with them. They gave me a great rate for at the time I was only 10mo post a BK discharge, of 3.75%...not bad.

I will definitely have them with my next loan, and I think now that theres a lot of history there the last 2 yrs with them for various credit products, I should  be approved 1st try.  

[pizza1]

UGH...accidentally post in student loans, LMAO!! Mods please move to Auto, thanks

[Anonymous]

I have had similar, excellent experiences with NFCU also, I have been rebuilding for a year and with NFCU for six months, they refinanced my Santander 12.57% loan to 4.29% for 72 months when my scores were upper 500's and lower 600's.  Anyone who can qualify for NFCU membership should really consider joining.  The three or four times I have called them their customer service has been fantastic.

[pizza1]

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@Anonymous wrote:

I have had similar, excellent experiences with NFCU also, I have been rebuilding for a year and with NFCU for six months, they refinanced my Santander 12.57% loan to 4.29% for 72 months when my scores were upper 500's and lower 600's.  Anyone who can qualify for NFCU membership should really consider joining.  The three or four times I have called them their customer service has been fantastic.

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Yes, NFCU is great. They have been nothing but fantastic with me. I have a CC and an Auto loan with them. Hoping to have my Mortgage with them as well in a few years. Glad you had success as well. 

[Cjinpink]

This is just the news I was hoping for! I am a member with NFCU and I am looking to get an auto loan in December. Can hardly wait

[pizza1]

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@Cjinpink wrote:

This is just the news I was hoping for! I am a member with NFCU and I am looking to get an auto loan in December. Can hardly wait

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I wish you luck!! Lets us know how it turns out.

[Anonymous]

My son, who was in the Navy, bought 2 cars last year @ 1.9 % a 2014 Charger, and 2014 Challenger, and he's only 25 with low 600 scores.  Also, he's a full-time student now.

I joined last year, I too was in the Navy 25 years ago...I still had my old account with them.  So they re-opened it...I just came off a BK.  I put 800 into their secured card.  12mos later they approved me for a car loan, personal loan, Navy visa sig 5k card, and 15k loc, which I didnt have my 2014 taxes completed, so I couldn't complete loan.

Navy Federal has alot of money to loan at low rates...and because they can only work with members, they are probably cash deposit heavy.

good luck.

[Anonymous]

I agree, I was just approved for my second auto loan with them within the past 6 mos. today @3.29%. They are truly the best, after dealing with Wells Fargo's crap for over 20 yrs. I closed all my accounts with WF and began using NFCU for my primary banking needs. I don't know why I didn't do it sooner.