Hi all. I just want to first start by saying how grateful I am for all the information I've been able to use on this forum! After an embarrassing experience at a car dealer last year, I got serious about repairing my own credit. In just about 10 months I have raised my Fico scores over 120 points, landing me currently between 680 and 710, so a few days ago I decided to take a shot at financing my long-time, within-reason dream car: A Subaru WRX.
Here's my problem: I was approved through PenFed for $33,000 at 8.7%. Initially it sounded good because it's a lot less than the 10.9% I'm paying on my current loan (which I got when my credit wasn't that great, but never got around to refinancing). They mailed me a check which is due to arrive today, but then my current credit union came through the next day and approved me for the same amount at 5.39%. Armed with some financing options, I headed to a couple Subaru dealers yesterday looking for the best deal... only to have them tell me that they could beat both offers at 4.49% through Subaru Financing, and because my TU Fico auto 9 score is a 697, maybe even get me to Tier 1 which is 1.9% (for people with 700+ scores). Since I'm almost certain I won't be taking either CU offers, I'm just wondering now what to do with this check when it gets here. Has anyone had experience with a similar situation?
