NFCU Approved!!!

[Anonymous]

A few Navy Fed questions......My husband and I were approved for a loan through NFCU for their lowest interest rate on a late model vehicle. The rep told us that if we decided to go new, then they would change the interest rate once the loan documents are received, is this true? Also by having the blank check, can we negotiate the vehicle price as if we are paying cash? We're newbies!!! I would love feedback/suggestions from experienced buyers. We have a vehicle in mind.

Thanks in advance.

[Anonymous]

Bump

[Anonymous]

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@Keisha2BCreditGuru wrote:

A few Navy Fed questions......My husband and I were approved for a loan through NFCU for their lowest interest rate on a late model vehicle. The rep told us that if we decided to go new, then they would change the interest rate once the loan documents are received, is this true? Also by having the blank check, can we negotiate the vehicle price as if we are paying cash? We're newbies!!! I would love feedback/suggestions from experienced buyers. We have a vehicle in mind.

Thanks in advance.

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That is true, new car loans are lower interest so if you decide to go new they will lower the APR a bit.   NFCU is great to work with.

[SgtT77]

Just bought my second vehicle through Navy about three weeks ago.  Yes you should negoiate the lowest price possible which in turn will lower the amount you finance.  As far as changing the terms, they will if the car is newer but you have to know the cutoff years which currently is 2014-2016.  I just bought a 2013 altima but didn't get the new car rate because it's not in that year range.  I asked specifically how do they determine and they said beginning every January of every year is when they add the new current year and the last year drops off.  I applied for a 72 month loan but decided if I went with 60 months I would get a better interest rate so I called to have the request changed but unfornately I guess it didn't go through  because after the check was finally cashed and it showed up on my account page, I looked and it still had the original terms.  Oh well still cheap payments and I will still pay if off early anyways. 

[Anonymous]

Thank you for the feedback!! We ended up getting a CPO.