What other type of credit should I apply for?

[Anonymous]

Kinecta CU in CA gave me the best rate on my truck. Navy Fed wasn't even in the top 10 and there was a wide margin.

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@XxRaVeNxX1 wrote:

Navy Federal isn't a local credit Union...it's one of the largest in the world....You wont get better rates than them

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[DrZoidberg]

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@XxRaVeNxX1 wrote:

Navy Federal isn't a local credit Union...it's one of the largest in the world....You wont get better rates than them

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That is very much false. Hell, right now DCU has lower auto and home rates (certain products). 

[Anonymous]

Just for reference, my local credit union is growing at break neck speed. They are all over my state now, and started from a single location in my hometown 30 or 40 years ago. I'm also a member of a work based credit union that has 3 locations total, in essence, very small.

I talked to the large CU over a year ago about a mortgage on a new home I was looking to purchase. The best they could offer me was 5.5% on a 30 year fixed mortgage. 5.5%!!!!!! To me, that's higher than giraffe ears in today's inflated housing market.

The "small" CU offered me 3.75% for the same mortgage term.

My point is, just because a CU is large, doesn't mean they will give you the best rates and terms.

[RaeC]

Thanks for all the input. I didn't want to use an auto loan (got pre-qualified thru Cap1 for a larger one) because of the stricter guidelines. We wanted an older jeep to toy around in and found one relatively cheap, hence a smaller personal loan for like $5k, is what I was thinking. And yes the Jeep had over 150k miles.

[Anonymous]

yeah over 150k MOST places won't touch it unfortunately. if you know your score try searching for places that offer lower loan rates for the term your desire.