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Navy Federal Auto Refinance APPROVED

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collics
Established Contributor

Navy Federal Auto Refinance APPROVED

So excited right now 

I have a rebuild thread if anyone is interested: https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Credit-Scores-in-the-400s-Reality-check/td-p...

 

I'm tightening up my budget and it just hit me how much my car pmt is in relation to my income. 

Credit Acceptance loan from 2017. I had a fresh repo and they were the only ones to approve me w 22.99% interest.

Been paying for 3.5 years. I was going to let it ride out this last 1.5 yrs but said it's worth a shot.

It went into review and 3 hours later I got the text that I was approved.

Pmt is now down by over $200/m.

I will pay over the amount due but the simple fact that I don't HAVE to makes me feel so good. 

The money I'm now saving can go towards other debt pmts.

 

FEA75A0F-149F-4552-B3DE-DA1189A62E03.jpeg

 

BK 7 Discharged May 2014. Removal Feb 2024! Let the countdown begin!!
Last App: Apr 2023
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FICO8s Dec 2019

FICO8s Oct 31 2023
Message 1 of 13
12 REPLIES 12
AllZero
Mega Contributor

Re: Navy Federal Auto Refinance APPROVED

Congratulations on your refinance! Very nicely done.

Message 2 of 13
collics
Established Contributor

Re: Navy Federal Auto Refinance APPROVED

Thank you @AllZero !

 

 

BK 7 Discharged May 2014. Removal Feb 2024! Let the countdown begin!!
Last App: Apr 2023
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FICO8s Dec 2019

FICO8s Oct 31 2023
Message 3 of 13
collics
Established Contributor

Re: Navy Federal Auto Refinance APPROVED

Hi @AllZero @can you answer this for me please

 

the amount Navy approved me for is actually higher than the payoff amount. I think I misread or mistyped but it's only about a $300 difference. 

navy is sending a check. Will it be made out to me or to the old lender? Will the old lender have to send me a refund for the difference? 

I'll cal navy in the morning but thought I'd ask. Hope I don't have to reapply. 

 

BK 7 Discharged May 2014. Removal Feb 2024! Let the countdown begin!!
Last App: Apr 2023
Newest to Oldest:


FICO8s Dec 2019

FICO8s Oct 31 2023
Message 4 of 13
AllZero
Mega Contributor

Re: Navy Federal Auto Refinance APPROVED


@collics wrote:

Hi @AllZero @can you answer this for me please

 

the amount Navy approved me for is actually higher than the payoff amount. I think I misread or mistyped but it's only about a $300 difference. 

navy is sending a check. Will it be made out to me or to the old lender? Will the old lender have to send me a refund for the difference? 

I'll cal navy in the morning but thought I'd ask. Hope I don't have to reapply.


@collics  I do not know. I have not done any auto loans with NFCU. CSR is open 24/7/365. Perhaps, call and see if CSR can answer your question?

Message 5 of 13
collics
Established Contributor

Re: Navy Federal Auto Refinance APPROVED

@AllZero  doh! I always forget they are open 24/7. Thanks. 

BK 7 Discharged May 2014. Removal Feb 2024! Let the countdown begin!!
Last App: Apr 2023
Newest to Oldest:


FICO8s Dec 2019

FICO8s Oct 31 2023
Message 6 of 13
AllZero
Mega Contributor

Re: Navy Federal Auto Refinance APPROVED


@collics wrote:

@AllZero  doh! I always forget they are open 24/7. Thanks. 


Good luck. 888-842-6328 Smiley Wink

Message 7 of 13
Shooting-For-800
Senior Contributor

Re: Navy Federal Auto Refinance APPROVED

Awesome!

Congrats!

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 8 of 13
collics
Established Contributor

Re: Navy Federal Auto Refinance APPROVED


@AllZero wrote:

@collics wrote:

@AllZero  doh! I always forget they are open 24/7. Thanks. 


Good luck. 888-842-6328 Smiley Wink


Haha they told me. I forgot I added GAP 

BK 7 Discharged May 2014. Removal Feb 2024! Let the countdown begin!!
Last App: Apr 2023
Newest to Oldest:


FICO8s Dec 2019

FICO8s Oct 31 2023
Message 9 of 13
Anonymous
Not applicable

Re: Navy Federal Auto Refinance APPROVED

Excellent! 18 months with a $200 drop is $3600 - not a small sum. Very nicely done - you're making some great moves lately. Keep it up Smiley Happy

Message 10 of 13
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