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NEED QUICK ADVICE! DCU? WELLS FARGO?

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NEED QUICK ADVICE! DCU? WELLS FARGO?

Hello everyone,

 

I am currently in the proccess of buying a used car. The car is more than likely going to be through a private seller rather than a dealership, the car is worth roughly around $17k. I am planning on taking out a $12k loan and using $5k of my own money to purchase the vehicle. Now, I have good credit 725 but my account is only 9mo old. I am a full time student but I also have a very steady income of $30k yearly. I have always had a great relationship with my bank wells fargo. I currently have a credit card with less than 30% utilization at a limit at $1500. Now my question is if I should seek a loan directly from my bank or seek out options such as DCU? I really do not want any hard inquiries on my credit. 

3 REPLIES 3
Established Contributor

Re: NEED QUICK ADVICE! DCU? WELLS FARGO?


@MariaCT wrote:

Hello everyone,

 

I am currently in the proccess of buying a used car. The car is more than likely going to be through a private seller rathern than the bank, the car is worth roughly around $17k. I am planning on taking out a $12k loan and using $5k of my own money to purchase the vehicle. Now, I have good credit 725 but my account is only 9mo old. I am a full time student but I also have a very steady income of $30k yearly. I have always had a great relationship with my bank wells fargo. I currently have a credit card with less than 30% utilization at a limit at $1500. Now my question is if I should seek a loan directly from my bank or seek out options such as DCU? I really do not want any hard inquiries on my credit. 


With CU like DCU you will definitely get great rates VS regular banks despite of you having an account with them.

 

As for Hard Inquiries.. You can't escape that when applying for anything other than some banks do Soft Inquiries for CLI.

________________________________________________________________________________________
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Current FICO 8 Scores as of 05/03/18: TU: 724 - EQ: 735 - EX: 711

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Message 2 of 4
New Visitor

Re: NEED QUICK ADVICE! DCU? WELLS FARGO?

Thanks for the info! Would you happen to know if DCU offers loans for purchase through a private seller.

Message 3 of 4
New Visitor

Re: NEED QUICK ADVICE! DCU? WELLS FARGO?

Please ignore the post above. I just confirmed they do offer loans for a private party purchase. I will most likely be going with that route.

Message 4 of 4
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