Another NFCU Story!!

[Darkknight59]

Chapter 13 was discharged on 3/25/13, Went to Carmax to trade in my 05 BMW clear title at $7,000. looking at 2011 BMW they had priced at $41900. Best offer was for 7.5% @ 72 months with $5,500 cash. Went home and applied to NFCU who I've been with for about 2 years, do 95% of banking with them with direct deposit and was approved for requested amount of $42,500. There is a 2012 MB SLK 250 at another dealership that I have my eye on with 5,900 miles and loaded at $43,950 that I will go look at today, will be great to walk into the dealership equiped with this approval!!! NFCU... You Rock!!

[MarvBear]

good for you.

[hrguy]

what rate did nfcu quote you?

[Hick]

Nice work! What rate, what terms, what were your scores?

[Darkknight59]

NFCU quoted me 2.99% @72 on a late model used (2012), or 1.99 on new.

My scores are TU 680 EQ 94 and was told yesterday EX was 740!! (Dealer with the SLK shared the EX score)

Early yesterday morning we went and traded in my wife's 2001 Subaru and were quoted 4%@72 through Chase on a 2013 CRV EX.

Said that with the recent 13 discharge was best they could do even with scores, so we took that deal.

In the afternoon, went to the dealership with the 2012 SLK and told them about my financing through NFCU, and they offered to match it through CHASE, and we took delivery.

Will call Honda dealer Monday to let them know that when my papers from NFCU arrive and will finance the CRV with my NFCU loan....let me see if he can suddenly get more competitive with this information.

And I love the SLK!!!

[MarvBear]

Usually when you get multiple approvals thru one back, there is always the stipulation; From the approving lender.

 

"Customer is car shopping, will only cash one contract"

 

Good luck with you efforts.

[Darkknight59]

Thankful that I still have the the NFCU that I can use on the other Chase loan! Will update as soon as I know.

[Darkknight59]

Hi Marv- question..

When I called the Honda Dealer, he said that the deal had been turned in and sent out.

I'm expecting my NFCU paperwork today, what would you suggest since my rate with NFCU would be lower?

Would appreciate your advice.

[MarvBear]

We don't allow consumer contracts to sit in a desk drawer. That contract equals cash. If approved, they are normally turned in just as soon as the internal F&I paperwork is finished. If the accounting office gets the deal before say 5 o'clock, then that contract is overnighted out to the lender.

Chase prime funds quickly, or if you did an E-Contract, it was funded more than likely the same day.

 

Perhaps you can refi when you receive the payment voucher that has the account number on it.

[Darkknight59]

Thanks Marv, I think I'll go that route!

[Darkknight59]

Hi Marv, as an update, we received the welcome packages from Chase with the account numbers and called NFCU. They said that they would cancel my request for the loan with them which would take about 72 hours to complete through the system.

They said to then request a refinance for my other Chase loan for the 2013 vehicle and deposit $250.00 into my checking for a refi!

Thanks again for your information!

[Jnavarro]

NFCU is awesome for the 250, I did bad in the car buying business when it came to IHF, I always sent my customers to NFCU!

[MarvBear]

Hi Marv, as an update, we received the welcome packages from Chase with the account numbers and called NFCU. They said that they would cancel my request for the loan with them which would take about 72 hours to complete through the system.

They said to then request a refinance for my other Chase loan for the 2013 vehicle and deposit $250.00 into my checking for a refi!

Thanks again for your information!

congrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrats!!!!!!!!!!!!!!!!!!!!!!!!!!