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NAVY instant approval

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New Member

NAVY instant approval

Just want to share my experience because I literally look to this forum for others advice and experiences before I app for any of Navy's products.

 

In market to purchase a new truck so three days ago I pull the trigger and applied for an auto loan with Navy. I was instantly approved for $33k with 3.89% interest. I originally asked for used (and only $30k) but called to see if I could use it in on a new vehicle and if yes what would interest be. Told yes and if new interest is 2.19%. They hard pull Equifax and my current score is 643. Been banking with Navy for two years. Two credit cards with Navy. Had a shared loan they was actually PIF in same day I app for auto. 

So excited. And since I travel for my job I was concerned about how long I had to use my loan and lady said 90 days due to COVID-19. 

Hope this information helps somebody else. 

8 REPLIES 8
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Regular Contributor

Re: NAVY instant approval

WoooHooo, congratulations and excited for you!! 🚘 💙🛳

Profile: Clean/Thin/Young ish/New Account

Scores as of 05/2020
EX FICO - no score young
TU FICO - no score young
EQ FICO 09 - 755 aged ish



Message 2 of 9
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Super Contributor

Re: NAVY instant approval

Congratulations on your approval!
Message 3 of 9
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Established Member

Re: NAVY instant approval


@Believe863 wrote:

Just want to share my experience because I literally look to this forum for others advice and experiences before I app for any of Navy's products.

 

In market to purchase a new truck so three days ago I pull the trigger and applied for an auto loan with Navy. I was instantly approved for $33k with 3.89% interest. I originally asked for used (and only $30k) but called to see if I could use it in on a new vehicle and if yes what would interest be. Told yes and if new interest is 2.19%. They hard pull Equifax and my current score is 643. Been banking with Navy for two years. Two credit cards with Navy. Had a shared loan they was actually PIF in same day I app for auto. 

So excited. And since I travel for my job I was concerned about how long I had to use my loan and lady said 90 days due to COVID-19. 

Hope this information helps somebody else. 


Oh man does this help a lot! I have just about all the same data points you do and I am looking at getting a loan though NFCU. Been with Navy a little more than two years and I also have two cards with them. With the 90 days to actually use the loan, I might apply on the 1st. 

Message 4 of 9
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New Visitor

Re: NAVY instant approval

Congrats on your approval! This info is very helpful, I am in the process of gearing up to purchase a new car and will be applying to NFCU for an autoloan as well. My credit score is a 678 , but waiting to pay off my current lease with Audi (have 2 more months) before I apply for the loan.

Message 5 of 9
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Established Contributor

Re: NAVY instant approval

@Believe863 

 

Congrats on the approval!!!



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Message 6 of 9
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New Member

Re: NAVY instant approval

I look forward to seeing your approval post in the next few weeks. @Broadwayblues good luck!

Message 7 of 9
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New Member

Re: NAVY instant approval

I'm sure in the next two months I will see your approval post because Navy is the best. Good luck hunting for your new ride @Allure23 

Message 8 of 9
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Established Member

Re: NAVY instant approval


@Believe863 wrote:

I look forward to seeing your approval post in the next few weeks. @Broadwayblues good luck!


@Believe863 I just went ahead and applied just now through the app. (It's amazing that it's possible to apply for a car loan through my iPhone) and I got approved for $34,000 for 72 months at 3.99%. Super happy! Now I get to see what Hyundai is going to offer. 

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