I am gearing up to finally pull the trigger on an auto loan refiance later this month but I can't decide which credit union to choose from. I will have the option of joing NFCU, PENFED, or just apping at my local credit union. I am attempting to lessen the amount of EQ inquires since all 3 pull from them while attempting to get the best rate. My current fico scores are EQ 671 fico 9 and 662 fico 8. Any suggestions? My EQ score rose roughly 30 pts this month after resolving some issues with my credit report and I expect it to rise a little bit more after this next cycle.
***Gardening 3/29/2018 until 9/25/2018***
@Anonymous wrote:
@A1Credit wrote:I am gearing up to finally pull the trigger on an auto loan refiance later this month but I can't decide which credit union to choose from. I will have the option of joing NFCU, PENFED, or just apping at my local credit union. I am attempting to lessen the amount of EQ inquires since all 3 pull from them while attempting to get the best rate. My current fico scores are EQ 671 fico 9 and 662 fico 8. Any suggestions? My EQ score rose roughly 30 pts this month after resolving some issues with my credit report and I expect it to rise a little bit more after this next cycle.
I'd join both NFCU and PenFed (both are great regardless of an auto loan) but would try PenFed first for the auto loan as they have the better rates. Good luck and enjoy your new ride whatever it might be.
Thanks Irish80! It's a refinance so it will be the same old ride but hopefully the payment and terms are new! 
@A1Credit wrote:
@Anonymous wrote:
@A1Credit wrote:I am gearing up to finally pull the trigger on an auto loan refiance later this month but I can't decide which credit union to choose from. I will have the option of joing NFCU, PENFED, or just apping at my local credit union. I am attempting to lessen the amount of EQ inquires since all 3 pull from them while attempting to get the best rate. My current fico scores are EQ 671 fico 9 and 662 fico 8. Any suggestions? My EQ score rose roughly 30 pts this month after resolving some issues with my credit report and I expect it to rise a little bit more after this next cycle.
I'd join both NFCU and PenFed (both are great regardless of an auto loan) but would try PenFed first for the auto loan as they have the better rates. Good luck and enjoy your new ride whatever it might be.
Thanks Irish80! It's a refinance so it will be the same old ride but hopefully the payment and terms are new!
PenFed is great for refi's. I definitely would try them first. A new lower payment will make it seem like a new car
I agree. I am hoping I can get it low enough where I can still through extra money at it each month to pay it off even quicker.
@Anonymous wrote:
@A1Credit wrote:
@Anonymous wrote:
@A1Credit wrote:I am gearing up to finally pull the trigger on an auto loan refiance later this month but I can't decide which credit union to choose from. I will have the option of joing NFCU, PENFED, or just apping at my local credit union. I am attempting to lessen the amount of EQ inquires since all 3 pull from them while attempting to get the best rate. My current fico scores are EQ 671 fico 9 and 662 fico 8. Any suggestions? My EQ score rose roughly 30 pts this month after resolving some issues with my credit report and I expect it to rise a little bit more after this next cycle.
I'd join both NFCU and PenFed (both are great regardless of an auto loan) but would try PenFed first for the auto loan as they have the better rates. Good luck and enjoy your new ride whatever it might be.
Thanks Irish80! It's a refinance so it will be the same old ride but hopefully the payment and terms are new!
PenFed is great for refi's. I definitely would try them first. A new lower payment will make it seem like a new car
@Anonymous wrote:Just a thought... Irish is correct in theory, lowest refi rate at PF being 1.49. It's a great deal, but i have the feeling with your scores that Navy is actually going to be the better deal. Just a hunch, i think i would call with your specifics and see if you can nail down what your rate might be. I have a loan at navy and it was super easy, fast, and no complaints, easy to manage. I recently joined PF, and i can honestly say PF has not been the greatest so far. I am at 3 months so now they trust me to deposit mobile checks, but paying things there is still hampered. At 6 months i guess i am golden.
Also, since your scores are on the mend, you could perhaps (assuming a lower rate) get the loan at Navy, and when your scores improve, refi to PENFED.
Navy will be at least 2 pulls, penfed only one i should think.
Uh oh! Now I'm confused again. I thought about applying at all three and just seeing what each offered but that is just too many iquiries. Do you think I can speak with a loan officer about my profile, credit, etc and they can give me an idea before I take the plunge?
@A1Credit wrote:
@Anonymous wrote:Just a thought... Irish is correct in theory, lowest refi rate at PF being 1.49. It's a great deal, but i have the feeling with your scores that Navy is actually going to be the better deal. Just a hunch, i think i would call with your specifics and see if you can nail down what your rate might be. I have a loan at navy and it was super easy, fast, and no complaints, easy to manage. I recently joined PF, and i can honestly say PF has not been the greatest so far. I am at 3 months so now they trust me to deposit mobile checks, but paying things there is still hampered. At 6 months i guess i am golden.
Also, since your scores are on the mend, you could perhaps (assuming a lower rate) get the loan at Navy, and when your scores improve, refi to PENFED.
Navy will be at least 2 pulls, penfed only one i should think.
Uh oh! Now I'm confused again. I thought about applying at all three and just seeing what each offered but that is just too many iquiries. Do you think I can speak with a loan officer about my profile, credit, etc and they can give me an idea before I take the plunge?
Inqs mean nothing they are the cost of doing buisness 3 will not hurt u and u are trying to get the best rate .
@bigpoppa09 wrote:
@A1Credit wrote:
@Anonymous wrote:Just a thought... Irish is correct in theory, lowest refi rate at PF being 1.49. It's a great deal, but i have the feeling with your scores that Navy is actually going to be the better deal. Just a hunch, i think i would call with your specifics and see if you can nail down what your rate might be. I have a loan at navy and it was super easy, fast, and no complaints, easy to manage. I recently joined PF, and i can honestly say PF has not been the greatest so far. I am at 3 months so now they trust me to deposit mobile checks, but paying things there is still hampered. At 6 months i guess i am golden.
Also, since your scores are on the mend, you could perhaps (assuming a lower rate) get the loan at Navy, and when your scores improve, refi to PENFED.
Navy will be at least 2 pulls, penfed only one i should think.
Uh oh! Now I'm confused again. I thought about applying at all three and just seeing what each offered but that is just too many iquiries. Do you think I can speak with a loan officer about my profile, credit, etc and they can give me an idea before I take the plunge?
Inqs mean nothing they are the cost of doing buisness 3 will not hurt u and u are trying to get the best rate .
Fair enough. Thanks!
