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NFCU AUTO LOAN

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Valued Member

NFCU AUTO LOAN

Hi... so I am interested in getting a car loan... my first installment ever. Here’s a bit of my credit background:

I started with an Openskycc $200 last March kept that for a year before applying for a cap1 and was approved for $400 in April. June I joined NFCU and was immediately approved for a cash rewards $500 and in July, I applied for Barclaycard Apple and was approved for $250 😩 yesterday I applied for the NFCU Cloc and was approved for 2k. I had applied back in June and was denied but I cleaned up my credit a lot. I wanted the cloc to help with UTILIZATION since I have these low limit cards.

My scores are
Ex 701, TU 690, EQ 670
Inquiries: Ex 2, TU 4, EQ 3
Average age is 6 months

Because I had a hard pull yesterday for the cloc I wanted to use that same pull to apply for auto loan. What’s a suggested amount I should go for? I don’t want to exceed 17k but not sure if that’s too high? What are chances of me getting approved?
Message 1 of 10
9 REPLIES 9
Super Contributor

Re: NFCU AUTO LOAN

Ideally you want to have a car in mind when you call them. You dont have to buy that one, just have one. Also, make sure you clarify that you want to use the same pull. I applied for cloc and auto loan 10 hours apart and they hit me with a 2nd HP. The rep thought they wouldn't, but they did.








***AD SPACE AVAILABLE***
Message 2 of 10
Regular Contributor

Re: NFCU AUTO LOAN

+1 Ask for them to use same but expect another HP. I apped for cloc approved requested use of same HP and got hit with another for auto loan pre approval.
Cards I currently have and their CL.
Cap1 Quicksilver $2,100 | Amex BCE $15,000 | Discover It $14,000 | Discover It Chrome $6,000 | Chase Freedom $1,500 | Citi DC $1,000 | PenFed PCR $6,000 | NFCU $13,500 | NFCU(CLOC) $15,000 | PenFed(PLOC) $2,000 | DCU Platinum $10,000 | VS $1,250 | Marvel Mastercard $2,000 | Citizens Bank $2,300 | Lowes $20,000 | Home Depot $1,250 | Gamestop $500 | Target $800 | PayPal Extras $5,000 | PayPal Credit $3,000
Scores as of 4/24/19
(FICO 8)
TU: 727 INQ: 11

EQ: 696 INQ: 17

EX: 696 INQ: 15


AoOA 4yr 2mo
AAoA 1 yr
Gardening until Sept 1st 2019
Business Credit
Amex Amazon Prime Business $20,000
Message 3 of 10
Super Contributor

Re: NFCU AUTO LOAN

NFCU has been wonderful to me, and I am NOT complaining...but if you call them on the telephone and ask how the weather is, expect an HP somewhere.  Smiley Tongue

 

They'll approve you for an auto loan.  It'll be an HP on TU or EQ.  (EQ, I think...)

10/01/19 Fico 8: EX 717, EQ 721, TU 742.

Zero percent financing is where the devil lives...
Message 4 of 10
Contributor

Re: NFCU AUTO LOAN


@tcbofade

They'll approve you for an auto loan.  It'll be an HP on TU or EQ.  (EQ, I think...)

EQ Most likely on the auto loan. They seem to be pulling TU for CC's, and EQ for CLOC/Auto these days 

Message 5 of 10
Regular Contributor

Re: NFCU AUTO LOAN

Always expect a hard-pull with NFCU.  I just got approved for a 30K auto loan today and it resulted in a hard pull from Equifax. I went via the online application and input all the info and took a guess on amount required and expected to go down to the branch to provide POI.  Rec'd a call within 30 minutes with a conditional approval.  Conditional meaning dealer must fax over purchase agreement in order for them to give final approval.  No down payment required....approved for 30K...anything over that amount is my responsibility.  I will put 5K down to be safe.  Hope all works out with you.

Chapter 7 Disc 03/2015 As of 09/02/18 **FICO 8 - EQ 658 / TRANS 658 / EXP 687 **FICO 9 - EQ 697 / TRANS 680 / EXP 711
UTL 1% ...TTL CL's $98,500
Message 6 of 10
Valued Member

Re: NFCU AUTO LOAN

Do you have to show POI? How long have you been with Navy? They denied me unfortunately
Message 7 of 10
Regular Contributor

Re: NFCU AUTO LOAN

 


@Sher86 wrote:
Do you have to show POI? How long have you been with Navy? They denied me unfortunately

 

 Picked up by 2018 Jeep Wrangler late last night from dealer.  Very smooth process...I received a conditional appoval (meaning had to have dealer send buyer agreement, but did that from home...never signed any paperwork)....once the dealer sent in...called about 30 mins later and approved.  Picked up check from branch within that hour.  I asked multiple times...if I need to send POI...said no approved based on credit.  They pull Equifax hard pull....FICO 8 is 678 and FICO 9 721.  Still not sure what version of FICO EQ used.  Sorry about the decline...wait for the letter to see why they denied.  Alos, member since 06/17.


 

Chapter 7 Disc 03/2015 As of 09/02/18 **FICO 8 - EQ 658 / TRANS 658 / EXP 687 **FICO 9 - EQ 697 / TRANS 680 / EXP 711
UTL 1% ...TTL CL's $98,500
Message 8 of 10
Contributor

Re: NFCU AUTO LOAN


@Sher86 wrote:
Do you have to show POI? How long have you been with Navy? They denied me unfortunately

@I applied today. The HP'ed both TU and EQ.  Approved for $44k for 72mo @ 3.59%. Took about 3 hours start to finish, I had to supply last two paychecks for POI.  

Message 9 of 10
Valued Member

Re: NFCU AUTO LOAN

Congratulations to you !!!’
Message 10 of 10
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