PenFed Used Auto 3.8%

[Anonymous]

Just wanted to share. I have less than stellar credit. No lates though. My utilization is around 58%. My scores on CL are in the 660's. I know that's not what they use. But just to give you a idea. 

But penfed approved me for a 3.8% used auto loan for 72 months.  Even if I finance it that long. My lowest rate yet. 

[Anonymous]

Congrats!

[AllZero]

Congratulations on your approval!

[Anonymous]

Congrats on the Refi approval. Smart move!

[Anonymous]

What credit bureau did they pull?

[AllZero]

@Anonymous .PenFed usually pulls EQ.

[Anonymous]

FWIW my wife saw her TU Vantage 3.0 shoot up from a 682 to 822 after reducing *** only *** utilization, down to 0%. If that's not motivation, I don't know what is. We did a lump sum payoff, and saw this change in 1 month that it took for balance to be updated in her report. 

[Hut1]

[CivalV]

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@Anonymous wrote:

Just wanted to share. I have less than stellar credit. No lates though. My utilization is around 58%. My scores on CL are in the 660's. I know that's not what they use. But just to give you a idea. 

But penfed approved me for a 3.8% used auto loan for 72 months.  Even if I finance it that long. My lowest rate yet. 

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My scores are in the high 600's as well and I was denied by NFCU. I also have Penfed but I am dreading another HP.  How much did you ask for? I want a late model used vehicle with 60 months. Cap 1 prequalified me for $35k at 4-7% for 60 months depending on which vehicle I choose. 

[Superduper2014]

Penfed approved my gf for 18k 4.74% for 72 months. 

No proof of income. 

Her equifax fico was around 730. So based on score alone, she got a worse rate than OP. 

What gives?

Now, when she buys the car with the check she can call penfed and choose a 60 month term and the rate will be a little better, but still I am comparing 72 months from op with lower score and she is worse off.