NFCU Auto Loan Draft Question

[MrCredit]

Do you know if NFCU draft gives you the option to select your term? When I applied I selected 72 months but it all depends on the rate of the loan. Thanks.

[j_casteel]

Doubtful it can be changed because the term can also determine the rate.

[Creditaddict]

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@MrCredit wrote:

Do you know if NFCU draft gives you the option to select your term? When I applied I selected 72 months but it all depends on the rate of the loan. Thanks.

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once it's approved you can call in and ask for shorter and it will most likely make your apr lower.... 36,60,72,84 i believe navy drops rate

[madmann26]

It depends on your bucket.

If you get X rate at 60 months and later want 84 months, your rate may not change because you could be on the upper end of the bucket already.

Edit:

Yes, the term can change but you need to wait until the draft has been cashed/posted. Then call in ask about the term change.

[Creditaddict]

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@madmann26 wrote:

It depends on your bucket.

If you get X rate at 60 months and later want 84 months, your rate may not change because you could be on the upper end of the bucket already.

Edit:

Yes, the term can change but you need to wait until the draft has been cashed/posted. Then call in ask about the term change.

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why would you use the check before you get the terms you want?

[madmann26]

That's the way NFCU does it.

Point in case,

If you apply for the loan online and it's approved with 60 months, then those are the terms, if you want new terms before the check has been cashed, it's a new application.

(trust me, already went through this)

After the check has been cashed, you can call NFCU and ask to change the terms.