NFCU approval

[RobynJ]

So our car took a turn for the worse and Navy helped us out. TU 9 779 loan for 40k. 

[pizzadude]

Congrats on the approval and new ride  !  What terms / interest rate did they offer ?

[RobynJ]

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@pizzadude wrote:

Congrats on the approval and new ride  !  What terms / interest rate did they offer ?

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I only have a 8 month old credit file and they gave me 72 months @ 6.29% not the best but I am happy with it considering I was even able to borrow 40k in the first place. 

[pizzadude]

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@RobynJ wrote:

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@pizzadude wrote:

Congrats on the approval and new ride  !  What terms / interest rate did they offer ?

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I only have a 8 month old credit file and they gave me 72 months @ 6.29% not the best but I am happy with it considering I was even able to borrow 40k in the first place. 

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Agree, It's not their lowest rate but you can always refinance in the future if you find a better deal.   Also it's been reported that NFCU will refinance their own auto loans so you can potentially drop your rate in the future with them. 

[FireMedic1]

Congrats on the new ride!

[Mdowning30]

@RobynJ That is a decent deal but with your scores i think you could have scored a 3-4% APR. Not a big difference though.

[babygirl1256]

Congats on the new loan . . . nice ride!!!

[Gladius]

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@Mdowning30 wrote:

@RobynJ That is a decent deal but with your scores i think you could have scored a 3-4% APR. Not a big difference though.

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3-4% vs. 6% is a big difference to some.  NFCU "best" rate now for 72 months is 5.04%.  I have seen some 2-3% rates for some credit unions but you have to be a resident of that state.  It's gonna be awhile till we see rates below 3% across the board.  Some auto manufacturers still have 0-2% rates but it is usually for bare basic models that are currenly on the dealer's lot that nobody wants.

[MySunrise271]

Congratulations on your loan approval and new ride🎉🎉🎉

[darkknight59]

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@Gladius wrote:

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@Mdowning30 wrote:

@RobynJ That is a decent deal but with your scores i think you could have scored a 3-4% APR. Not a big difference though.

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3-4% vs. 6% is a big difference to some.  NFCU "best" rate now for 72 months is 5.04%.  I have seen some 2-3% rates for some credit unions but you have to be a resident of that state.  It's gonna be awhile till we see rates below 3% across the board.  Some auto manufacturers still have 0-2% rates but it is usually for bare basic models that are currenly on the dealer's lot that nobody wants.

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Correct...5.04% is their best rate on 72 months