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bluduk15

TDECU or NFCU or both for $70k auto loan...details within

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Loan desired: $70,000 for 2016 or later Toyota Land Cruiser, 60 months. 

Credit: 741 EQ, 735 Trans

 

Texas Dow offers "as low as" 3.49% (with direct deposit) TDECU Rates

Navy Federal offers "as low as" 3.99% on their calculator with inputs of "used, 60 mth, $70k." NFCU Calculator

 

Should I apply to both?  I have to start an account with both and it seems like the TDEFCU "as low as" number on their website doesn't reveal the true rate once the fact that it's going to be a used vehicle for $70k over 60 months. I called and asked that very question and didn't get much in the way of explanation.  TDEFCU has a branch within blocks of my house, NFCU has a branch within 15 min of my house. 

 

Should I worry about hard pulls from both? Just looking for information to come up with a strategy if the pulls will affect the rate.  Also would like info on someone who might've been in a similar situation or any reviews of either CU. 

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In your opinion, which credit union has the best reputation.   I really know nothing other than what our members might offer.

 

That's too much money for a 2016 year model unless it's got a gold brick wedged up its tailpipe.

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Posted (edited)
6 minutes ago, MarvBear said:

In your opinion, which credit union has the best reputation.   I really know nothing other than what our members might offer.

 

That's too much money for a 2016 year model unless it's got a gold brick wedged up its tailpipe.

yes, that's too much for 2016, only plan on getting approved for that and spending that if I have to buy a 2018. The market on these cars is very tight, only 3-5 available nationwide at any one time with the color/mileage I want. 

 

TDECU seems very user friendly, just as NFCU.  Any worry on a credit hit if I apply to both? It's kind of a pain to open two accounts for applications, but I'll do it if it works out in the long run on the rate. 

Edited by bluduk15

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My opinion, since I don't believe inquiries matter is that "nothing ventured, nothing gained.

 

Good luck in your search.

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1 hour ago, MarvBear said:

My opinion, since I don't believe inquiries matter is that "nothing ventured, nothing gained.

 

Good luck in your search.

Good enough for me!  Thanks!  I'll report back with the results.../crossingfingers/

 

 

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Have you looked at the finance rate Toyota offers on new cars vs the finance rate on a used car?  Sometimes the monthly payment is very close due to the interest rate difference between new and used.  It's worth checking to see if there are any 0% offers on new vs the 3.9% offer on used combined with the new car warranty vs used car maintenance cost.  An $85,000 new vehicle can be slightly more than a $70,000 used vehicle when all things are considered.

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So I got approved from both NFCU an TDECU.  I ended up using NFCU because TDECU does not allow for purchases of vehicles out of state and the truck I found, of course, was out of state. 

 

The rate for a more than 2 year old vehicle is not great, 6.99%.  I'll see if a refinance is worth it in 3 months with TDECU, the rate there was 4.0%

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7 hours ago, bluduk15 said:

So I got approved from both NFCU an TDECU.  I ended up using NFCU because TDECU does not allow for purchases of vehicles out of state and the truck I found, of course, was out of state. 

 

The rate for a more than 2 year old vehicle is not great, 6.99%.  I'll see if a refinance is worth it in 3 months with TDECU, the rate there was 4.0%

USSFCU consistently offers among the lowest "as low as" rates for auto loans (currently 60 months on a used car = 2.49%).

 

https://www.ussfcu.org/resources/rates.html

 

IME they are lethargic and don't care whether they get your business or not (even by credit union standards), but on a refi you have the luxury of time.

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On 3/18/2019 at 5:33 PM, bluduk15 said:

Credit: 741 EQ, 735 Trans

 

Kredit Carma?

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