NFCU---refy..HELP PLEASE

[Anonymous]

I joined NFCU two weeks ago...exciting credit union. Was approved for 15k CLOC...2900 CC. Anyone had any experience with them on auto loans?...I am wanting to refy my 2013 F150 that I purchased 4 months ago thru Santander...72 months @ 15% =675.00 month. I did not have to provide any POI, No down pymt etc...just financed 30k plus Tax. NFCU says they will finance up to 39k for this vehicle--up to 72 mos with interest from 5.99-18%......I am curious what DOC's they require...my payoff today was 29,345.00.   Also, would it be safe to assume if I pay like 3-5 more pymts, or get a year of pymnt history with Santander, that it would make it a smoother experience, as I will also have that much time in with these guys on my CC and The CLOC..........PLEASE HELP me here, I am looking for some real time experience from you credit experts that have been at this game and are very wise to how things work, with this credit game...I have learne d alot in the past 8 mos or so since being a member here...you are some very knowledgable folks and I am willing to learn.....I humbly need your help

[Anonymous]

NFCU approved me for a refinance on my car loan before they were willing to give me unsecured credit so I am pretty sure your in good shape.  I don't believe they asked for proof of income as I was preapproved as soon as I joined, it was a couple of years ago so I can't recall exactly.  My scores were low 600's at the time and they gave me 72 months at 4.29%.  I don't think waiting for a couple more payments will make a difference, you don't want to waste anymore money on that high interest loan then you have too so I would go for it. NFCU takes great care of their members, I also have a car loan with Penfed who is great also and an option but I do all of my banking with NFCU because they are my favorite.

[Anonymous]

Also if they gave you 15k on your CLOC they clearly see you as a low risk as that is an unsecured line of credit which is harder to get than a car loan.  

Go for it and let us know how it works out.

[Anonymous]

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@Anonymous wrote:

Also if they gave you 15k on your CLOC they clearly see you as a low risk as that is an unsecured line of credit which is harder to get than a car loan.  

Go for it and let us know how it works out.

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Thanks workingfor850........they didn't require any DOC's from you on your auto loan?

[Anonymous]

As I said in my response it was two years ago so I don't recall exactly. I don't think so but cannot say for sure.  

[ls2016]

I refinanced my 2013 Kia Optima with NFCU in Jan, immediately after joining. My loan is under water due to an underwater trade-in: owe $18,000, valued at $11,000. Originally financed through Santander. Payments were $562, now $357 for 60 months. APR was 14%, now 5.19%. Poor credit at time 5ish
Was approved for refi and $14,300 cash rewards card with a 640 TU score. $50,000 annual income. No POI requested or any other documents for that matter. Not instantly approved, but approved within 24-48 hours. Needless to say, I was very shocked at the refi approval and the cc approval with SL. BEST WISHES!!!

[Anonymous]

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@ls2016 wrote:
I refinanced my 2013 Kia Optima with NFCU in Jan, immediately after joining. My loan is under water due to an underwater trade-in: owe $18,000, valued at $11,000. Originally financed through Santander. Payments were $562, now $357 for 60 months. APR was 14%, now 5.19%. Poor credit at time 5ish
Was approved for refi and $14,300 cash rewards card with a 640 TU score. $50,000 annual income. No POI requested or any other documents for that matter. Not instantly approved, but approved within 24-48 hours. Needless to say, I was very shocked at the refi approval and the cc approval with SL. BEST WISHES!!!

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Congrats on your re-fy..thats a heck of a difference AND a heck of a loan by NFCU. I spoke to them and they will finance up to 125% of NADA...So I am  in good shape there...I am with Santander too with a 15% interest rate. I am grateful they booked my auto loan but a payment of $675 can be reduced in the hi 400's or low to mid 500's...I will be applying soon. I was approved for the 15k CLOC first then applied for the cash rewards card 2nd which came back with a 2900 limit. 14,300 is a NICE limit. I am grateful to be in with them..thanks to this forum.