NFCU auto refinance

[Anonymous]

I know everyone says how BK friendly they are with credit cards.  Does anyone have any experience of refinancing a car with them after discharge?

[Scupra]

I didnt refinance but I did buy a car with a loan from them 1 year post BK. I have previous auto history that was never bad and I don't know if that helped. I was able to walk away with 4% @ 60 months

[ezdriver]

Most lenders want to see about 12 months of positive tradeline use/payments before they'd approve your loan request. A ch13 may not be treated the same way as a ch7. NFCUis very easy to deal with and they can be reached 24x7x365. Just call and ask.

[DaUsMsB]

Yes we did.  They would not approve us initially (3 months) post BK 13. 

5/14 - NFCU would not give us a slightly used (2014) car loan, Cap 1 did 1k down @ 12%

1/15 - Cap 1 approved us for another auto loan (new 2014 leftover) 5k down @ 6% (we could have paid cash for the car flat out, but wanted the loan to build credit)

5/15 - NFCU refinanced our 1st cap 1 loan (the 12% one)  @ 13 % (higher rate, but took it to get in good graces with them and prove ourselves)

Shortly after approved for flagship @ 5k CLI after recon (secure message sent and then quickly approved)

To add to this and your options, CAP 1 has been great with us and others here for both auto and CCs.  Less than a year after getting multiple cards with  Cap1 we have limits of 9.5k, 4.5k, 3.5k, and 2.5k...and still paying on that loan @ 6%.

[Anonymous]

Thanks for the responses.  I didn't even think about cap 1...I paid my truck off with them before filing.  My car is currently financed with a local bank.  I've pad more than the monthly payment for 2.5 years now with a 9% interest rate (only got that rate because I had a co-signer).

[Anonymous]

I may try to see if NFCU will refinance ours after our 1yr discharge in March. We have 9.65% from Cap1, which in reality isn't all that bad. Good luck to you!

[DaUsMsB]

Also both NFCU and Cap one make it easy by having online payments.  Very flexible on how you can pay too.  I pay a fixed amount every week on both totalling more than my monthly payment.