Woke up a one morning a couple of weeks ago and decided it is time to replace our 11 year old Honda. I got pre-qualified for Cap1 Auto Navigator at 3.27%, and got approved for Chrysler Capital for a mystery APR, both soft pulls.
I started the NFCU loan app online, and it came up with an error message toward the end, so I didn't call or anything. The more I thought about it, the more I realized I would always wonder what terms they would have offered if I didn't find out. Did the app again tonight, the first time it was processing so long that I got timed out. Tried again, and got approved for 2.69% for 72 months!!!! Was trying to decide whether to pay for expedited mailing since I don't live near a branch, and something happened again and the session failed, good grief!
I finally called, and a super nice rep went over the terms. I didn't dream it, it was real! So glad I called because they are sending the papers out tomorrow via Fed Ex and they will be here Friday!!!
Hello Grand Cherokee. 
@Anonymous wrote:Congrats! Might be time to get CLI love from NFCU?
Thanks, tydawg! My third Cash Rewards statement cuts next month. 
@Loquat wrote:Congrats on the approval...and nice choice on the Grand Cherokee. My friend has the Overland edition and that's one sweet ride. Enjoy it! Hope to see pictures!
Thanks, Loquat! The Overland is a little out of my range, but they are definitely nice! I am looking to get the Laredo E with the All Weather Trail Rated package. I want the Quadra-Trac II 4wd system.
@Justagirl73 wrote:Congrats Bella!
Thanks, Justa! I know I'm not getting a Wrangler, but at least it's a Jeep!
@Anonymous wrote:Congrats on the approval but be cautious borrowing more than 80% LTV even at a low interest rate. A lot of folks will max out their approved amount and get 100-120% LTV on a car and years later, when it's time to trade-in or upgrade, they're stuck being upside down.
Thanks for the advice, ABCD!
Just some general info about my vehicle habits: I've kept my last two cars 12 and 11 years, and I plan on keeping this one for that long. I am putting $8000 down. And the selling price of the one I'm looking at is way below invoice. Do you think I will have a problem? Even if my loan is upside down, I will get GAP through my auto insurance, as it is way lower than buying it from the dealer. I paid just a couple hundred below invoice for my last car, put only $500 down, and I carried GAP through my insurance company until I knew the loan balance was below the car's value. I don't think I will need GAP this time, but will have my insurance guy figure that out.
But let me ask you this. Where do they place the new car's "value" before you buy it? Is it invoice? Is it KBB fair purchase price? Or something different? I've been wondering this the last couple of days. While I know my insurance guy can figure this for me, I always like to crunch numbers myself. I am a nerd.