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NFCU Approved Auto Loan Refinance

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Member

NFCU Approved Auto Loan Refinance

**Update, They pulled Transunion, with a score of 583**

 

I am a new member of NFCU. Joined a little under 2 weeks ago, my direct deposit hasn't even started yet! (Will this week) NFCU already approved me for a CashRewards CC SL$3,200. So I figured why not try to see what they would do on my horrible 21.97% interest rate auto loan, and if I could get a better rate refinancing with them. 

 

Current Loan: Opened 10/2017: Go Financial(Carvana) 21.97%apr, $23,853.65 financed, 71 month loan. $599/mo payment

 

NFCU Refi instant approval: 6.39%apr, $23,771.16 payoff, 48 months, $569/mo payment

 

Will save over $15,000 over the life of the loan! Unbelieveable! 

 

My goal was to lessen the term length, and decrease interest. When they called to confirm the rep asked if I wanted to stretch the loan out to reduce monthly payment amount, but I was comfortable with those payments. 

 

A check will be at my local branch to pick up and send over to GoFinancial for payoff. 

 

NFCU has been VERY good to me! 

 

Data points: 60k income 

(Not true FICO) CreditKarma scores:

TU:570

EQ: 570 

100% payment history

4 inquiries

Opensky CC: opened 3/2018: 18% utilization. $200 limit 

Fingerhut freshstart: 2/2018: $124 balance

 

3 baddies/collections- 1 of which is medical

10 TLs of default student loans (in process of rehabbing)

 

I have learned so much by lurking on these forums, and now I'm on my way to setting up a great credit profile. I am done app'ing for now, in growth stage. 

Current Score: EQ 715 | TU 687 | EX 723
Starting Score : EQ 547 | TU 519 | EX 521 (02/18/2017)

CreditOne: $450
OpenSky: $200
NFCU CashRewards: $4,500
NFCU CLOC: $11,000


Scores were really low due to my student loans being in default, they were removed from default 12/2018. Scores jumped.


Message 1 of 11
10 REPLIES 10
Frequent Contributor

Re: NFCU Approved Auto Loan Refinance

Congrats on those approvals! They are my favorite bank right now, plus they are soooo polite on the phone. You will see some nice boosts over the next year.


Starting Score-(01/2017): FICO ||EX:575--EQ:549--TU:588||
Current Score--(04/2018): FICO ||EX:686--EQ:697--TU:715||




Message 2 of 11
Super Contributor

Re: NFCU Approved Auto Loan Refinance

Congrats on the approval.  Enjoy your new rate..

Message 3 of 11
Regular Contributor

Re: NFCU Approved Auto Loan Refinance

Awesome win! If you find out what they pulled and the actual score post it up =)

Current Score: EQ 617 | TU 640 | EX 644
Score before losing job: EQ 675 | TU 674 | EX 678 (02/2019)
Starting Score: EQ 616 | TU 614 | EX 585 (02/18/2018)
Goal Score: 700
Message 4 of 11
Member

Re: NFCU Approved Auto Loan Refinance


@FirstAscent wrote:

Awesome win! If you find out what they pulled and the actual score post it up =)


 They pulled Transunion, with a score of 583. 

Current Score: EQ 715 | TU 687 | EX 723
Starting Score : EQ 547 | TU 519 | EX 521 (02/18/2017)

CreditOne: $450
OpenSky: $200
NFCU CashRewards: $4,500
NFCU CLOC: $11,000


Scores were really low due to my student loans being in default, they were removed from default 12/2018. Scores jumped.


Message 5 of 11
New Member

Re: NFCU Approved Auto Loan Refinance

I really wish I could get them to refinance my horribly high interest auto loan Smiley Sad Congrats to you! Have any pointers?!?
Message 6 of 11
New Visitor

Re: NFCU Approved Auto Loan Refinance

I’m anxiously waiting! I applied today and they actually pulled from Equifax. Which I was hoping they wouldn’t as they’re my worst! Equifax -628 Experian - 653 Trans Union - 703.
I was told that they always use Equifax unless more information is needed. 😒 but can do any bureau.
Message 7 of 11
Contributor

Re: NFCU Approved Auto Loan Refinance

good for you.. congrats!!!
11/2016 - EQ(575)/TU(550)/EX(565) Current - EQ(675)/TU(680)/EX(678) Goal – 700


Message 8 of 11
Established Member

Re: NFCU Approved Auto Loan Refinance

This is so amazing!!! This inspires me to believe that I will be able to get out of my 17% rate!!!! 


Message 9 of 11
New Contributor

Re: NFCU Approved Auto Loan Refinance

I just joined NFCU the other day.  I applied for their cc and got approved for an SL of $700.  By far my lowest.

The next day I went into the branch and the lady I spoke to hit a few buttons, asked a couple questions and refi'd my car for $26,000 with NO hardpull.

 

I'm so confused!!!!!

**trying to garden**
Current scores EQ 661 TU 655 EX 666
AMEX PRG
Chase Southwest $8500
Venture $8200
Wayfair $8000
Care Credit $7500
Overstock $6000
VS $5800
NFCU $700 (very disappointed in this SL)
Message 10 of 11
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