@kendar1ous wrote:As of Today Aug 4th 2022
My Ficos are EX 728 EQ 711 TU 707
I have a overall credit limit of 2500
Overall Credit aged it a year and 4 months
Looking into a auto loan with NAVY FED SOMEONE HELP 😩
Not sure what you mean by "what should I apply for?" You say you're looking into an auto loan with NFCU. You shouldn't apply for anything else until the auto loan is obtained.
How soon are you looking to get the auto loan? Are you a member of Navy FCU? How much cash down do you have in reserve for the down payment? With Navy you need to have a decent internal score to get approved and believe it or not nobody here knows exactly how that algorithm works other than to say get a few products and build off of it. An auto loan is probably going to be out of reach at the moment since your file is so new and it looks from your DP's that you do not have any credit products from them yet. I would suggest to get a SSL "shared secured loan" with them and a credit card (if you have to get a secured one so be it as it will graduate) build the history up and in 9-12 months you will more than likely have a much better chance of approval. This is the exact same thing I am doing at the moment to eventually get an auto loan and then graduate to a mortgage through them. Like they say baby steps. Either way I wish you the best.
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@RobynJ wrote:How soon are you looking to get the auto loan? Are you a member of Navy FCU? How much cash down do you have in reserve for the down payment? With Navy you need to have a decent internal score to get approved and believe it or not nobody here knows exactly how that algorithm works other than to say get a few products and build off of it. An auto loan is probably going to be out of reach at the moment since your file is so new and it looks from your DP's that you do not have any credit products from them yet. I would suggest to get a SSL "shared secured loan" with them and a credit card (if you have to get a secured one so be it as it will graduate) build the history up and in 9-12 months you will more than likely have a much better chance of approval. This is the exact same thing I am doing at the moment to eventually get an auto loan and then graduate to a mortgage through them. Like they say baby steps. Either way I wish you the best.
My experience with credit unions is that they are always pushing auto loans. I have no real knowledge, but I have a gut feeling that an auto loan is actually a good way to get the relationship started.