Another Luv NFCU thread

[smallfry]

The old clunker decided to die yesterday. Got my approval on the phone for the new car loan before the tow truck arrived. Dealer was kind enough to drive me to the local NFCU branch here in NJ to pick up the bank draft to pay for the car. Drove out with the new car by early afternoon. Navy makes days like that almost bearable.

[2009]

Congratulations!!!! If you don't mind me asking how much were you approved for? What rate? What were your credit scores??  That's great that you can just call up the bank and get approved right away to go and buy new vehicle. By the way what type of car did you purchase?

Thanks,

2009

[smallfry]

I was approved for 36K spent 24K Toyota Camry. Guessing EQ in the neighborhood of 696. He said they pull the Beacon score. That the score we pull here at FICO? 6.25% 60 months 0 down. GAP $249. Dealer offered (no pull) Toyota Vehicle at 4.9%. Difference was $15 per month but no GAP. That close and I give my CU the biz. Since I had refi'd with NFCU June 2007 and paid virtually the entire loan off in 13 months I thought they would do better than the 6.25% but considering the lowest rate offered on the website is 5.25% I guess I can't kick too much about it. Nice getting the car with just 1 Equifax pull.

[haulingthescoreup]

Ah, that's great! Getting the loan before the clunker went on the hook; that's perfect. They need to put you in a commercial!

Yes, myFICO uses the EQ Beacon 5.0 (pretty sure that's the version number.)

[treski]

Okay, it's confirmed.  I definitely getting in w/ Navy while I can.

Congrats and thanks for sharing!!!!!!!!

[Anonymous]

Congrats on the car approval!

I did the preapproval for an auto loan on their website last week to see what rates they would offer. I asked for $25,000 and got the need more time message.

I then went to the dealer and they agreed to give me the "Well qualified buyer" financing, 2.9 percent for life of the loan. I took that, assuming it would beat any other loan offer.

[Anonymous]

Super Congrats smallfry!!!

I agree with HTSU. Navy Fed should put you in a commercial

cuz that level of service is above and beyond the call of duty.

And you made the right call. A new car loan with GAP beats

another loan without it every time. If anything happens, you pick

up the phone and call the same folks who gave you the loan in

the first place. That's neat, clean and easy.

Once again, Congratulations on the new car loan. Enjoy!!!!!

CanDo

"The right attitude is everything"

[moondog7324]

Another nice thing about NFCU- they let you make bi-weekly payments- if you do that- your true interest rate will be reduced even more- and you can shave about 8 months off a 60 month loan. NFCU has a calculator to figure it out.

[preci0uz]

omg that is amazing, congrats!!! I hope you like your new car!!! Speedy business!

I can't wait to apply for a CC at NFCU, one more month, just one more month.

[oracles]

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@smallfry wrote:
I was approved for 36K spent 24K Toyota Camry. Guessing EQ in the neighborhood of 696. He said they pull the Beacon score. That the score we pull here at FICO? 6.25% 60 months 0 down. GAP $249. Dealer offered (no pull) Toyota Vehicle at 4.9%. Difference was $15 per month but no GAP. That close and I give my CU the biz. Since I had refi'd with NFCU June 2007 and paid virtually the entire loan off in 13 months I thought they would do better than the 6.25% but considering the lowest rate offered on the website is 5.25% I guess I can't kick too much about it. Nice getting the car with just 1 Equifax pull.

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Sorry for the ignorance lol but what is GAP?

BTW, Major Congrats Smallfry

Someone please help me to get into NFCU PLEASE

Message Edited by oracles on 01-29-2009 12:57 AM