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I recently joined NFCU so I don't have any account history with them. However, I applied for an auto loan - I just didn't read enough on the need for an established relationship. Several times the application was in pending and I'd call and they asked how I wanted to pay. I chose "pay myself" both times. Maybe I should've said "auto-pay". Regardless here are the stats below. Was it a stretch or is there a good reason to request a recon. If not, where would be a logical next place to look?
Purchase price: $76000
Annual Income: $215k
DTI: ~6%
Requested amount: $89k (~$10k in negative equity on trade)
Term: 72 months
They pulled: TU not sure which one but my scores are FICO4 - 677, FICO8 - 699, FICO9 - 661
AAoA: 4yr 1 month
Other: 1 auto loan late exactly 24 months ago from when I traded for my current car and the dealer took forever to pay off previous loan. Disputes and letters couldn't get this removed.
- Auto loan history is limited, this is only my second loan. The first one was only 2 months. So total 26 months total.
NFCU is known for being very generous, but they do like to build relationships first. Most new accounts are approved for lower limits, it seems you went too big, too soon. Open a card with them, and give it 3-6 months. But you definitely made them skittish with the big loan request off the bat.
That makes sense. Thanks, I think I saw an offer. I'll open a card and maybe refi down the line. I'll have to go through the dealer for now.
@rostrow416 wrote:NFCU is known for being very generous, but they do like to build relationships first. Most new accounts are approved for lower limits, it seems you went too big, too soon. Open a card with them, and give it 3-6 months. But you definitely made them skittish with the big loan request off the bat.
@Anonymous wrote:I recently joined NFCU so I don't have any account history with them. However, I applied for an auto loan - I just didn't read enough on the need for an established relationship. Several times the application was in pending and I'd call and they asked how I wanted to pay. I chose "pay myself" both times. Maybe I should've said "auto-pay". Regardless here are the stats below. Was it a stretch or is there a good reason to request a recon. If not, where would be a logical next place to look?
Purchase price: $76000
Annual Income: $215k
DTI: ~6%
Requested amount: $89k (~$10k in negative equity on trade)Term: 72 months
They pulled: TU not sure which one but my scores are FICO4 - 677, FICO8 - 699, FICO9 - 661
AAoA: 4yr 1 month
Other: 1 auto loan late exactly 24 months ago from when I traded for my current car and the dealer took forever to pay off previous loan. Disputes and letters couldn't get this removed.
- Auto loan history is limited, this is only my second loan. The first one was only 2 months. So total 26 months total.
May I ask what vehicle you are looking at? Looking to finance around the same amount next year with NFCU (maybe). I have one source of income going to a checking account and a Visa with them for a couple of years now. I heard they use EQ Auto 9.
@Anonymous wrote:That makes sense. Thanks, I think I saw an offer. I'll open a card and maybe refi down the line. I'll have to go through the dealer for now.
@rostrow416 wrote:NFCU is known for being very generous, but they do like to build relationships first. Most new accounts are approved for lower limits, it seems you went too big, too soon. Open a card with them, and give it 3-6 months. But you definitely made them skittish with the big loan request off the bat.
@rostrow416 Has it right. I waited 5 months before apping for an auto loan, They were really easy to work with.
Just try to build a little history with them and skies the limit!
@Gladius wrote:
@Anonymous wrote:I recently joined NFCU so I don't have any account history with them. However, I applied for an auto loan - I just didn't read enough on the need for an established relationship. Several times the application was in pending and I'd call and they asked how I wanted to pay. I chose "pay myself" both times. Maybe I should've said "auto-pay". Regardless here are the stats below. Was it a stretch or is there a good reason to request a recon. If not, where would be a logical next place to look?
Purchase price: $76000
Annual Income: $215k
DTI: ~6%
Requested amount: $89k (~$10k in negative equity on trade)Term: 72 months
They pulled: TU not sure which one but my scores are FICO4 - 677, FICO8 - 699, FICO9 - 661
AAoA: 4yr 1 month
Other: 1 auto loan late exactly 24 months ago from when I traded for my current car and the dealer took forever to pay off previous loan. Disputes and letters couldn't get this removed.
- Auto loan history is limited, this is only my second loan. The first one was only 2 months. So total 26 months total.
May I ask what vehicle you are looking at? Looking to finance around the same amount next year with NFCU (maybe). I have one source of income going to a checking account and a Visa with them for a couple of years now. I heard they use EQ Auto 9.
I thought they were gonna pull EQ 9 as well. For me it it turned out to be EQ 5!
@Gladius wrote:
@Anonymous wrote:I recently joined NFCU so I don't have any account history with them. However, I applied for an auto loan - I just didn't read enough on the need for an established relationship. Several times the application was in pending and I'd call and they asked how I wanted to pay. I chose "pay myself" both times. Maybe I should've said "auto-pay". Regardless here are the stats below. Was it a stretch or is there a good reason to request a recon. If not, where would be a logical next place to look?
Purchase price: $76000
Annual Income: $215k
DTI: ~6%
Requested amount: $89k (~$10k in negative equity on trade)Term: 72 months
They pulled: TU not sure which one but my scores are FICO4 - 677, FICO8 - 699, FICO9 - 661
AAoA: 4yr 1 month
Other: 1 auto loan late exactly 24 months ago from when I traded for my current car and the dealer took forever to pay off previous loan. Disputes and letters couldn't get this removed.
- Auto loan history is limited, this is only my second loan. The first one was only 2 months. So total 26 months total.
May I ask what vehicle you are looking at? Looking to finance around the same amount next year with NFCU (maybe). I have one source of income going to a checking account and a Visa with them for a couple of years now. I heard they use EQ Auto 9.
BMW M5