NAVY ROCKS ( Again )

[Creditwiser]

Last month Navy Federal approved me for a used auto loan @ 3.5%  I thought I got away with murder since Im only a few months post disch BK7. So I finally found a car ( Infinity Q50 ).  Its a 2013 with less than 7500 miles so Navy qualified it as a NEW car and lowered my rate to 2.79%   Once again this institution has exceeded all expectations.  NAVY ROCKS 

Anyway, just thought I would share that as it wasnt expected and someone may have a similar situation in their hunt for a car.

[Anonymous]

Awesome to hear. Did they require a co signer?

[Creditwiser]

No. No cosigner.

[0REDSOX7]

I've come to the conclusion that credit unions are the only way to bank. I got a refinance of 2.69% after my initial auto loan right after BK.

Congrats to you!

[DaUsMsB]

Congrats!  I cant get NFCU to give me a loan for some reason.  I've been with them for over 5yrs, no bounce checks or in the red ever.  I discharged march 2014 and tried to get a loan in may...couldn't get much to start rebuilding.  I even offered them a few thousand to get a 20k car just to rebuild...but they denied me.  Couldn't get a real credit card either...I ended up getting a secured card.  I'm just trying to keep everything clean and rebuild where I can.  I like NFCU, but may end up changing banks eventually to feel more like a customer.  I'll wait a few more months...maybe end of Jan try again...if I cant then, I'll have to leave NFCU

[DaUsMsB]

What a difference a week makes...all my disputes started coming in and our reports looked pretty clean...well...relatively speaking.   I'm going to cancel my secured card as for my wife and I we got 7 cards between us to garden with.  All with decent limits...so we will cancel NFCU secured and pay off our current car loan in Jan...then ask NFCU again.  Hopefully they say yes this time.   I will report then.  So hopefully...I too can be on board with NAVY ROCKS!!!!!!!!!!!

[raydmercer2345]

Does anyone know if you can buy a car from a private seller or at an auction with a navy federal loan? Or does it have to be from a dealer?

[DaUsMsB]

If those are your latest scores in your siggy then you will probably not have an issue with NFCU.  I know you can talk to them and get preapproved and just go searching for whatever you want...basically like you had cash because NFCU is already backing you.  So for you, it'll probably be easy to just ask them and I don't see why it would be an issue buying from an individual.  I've done that in the past through another CU, when I had good credit lol.