Purchased New Car 2+ years after BK 7 Info

[help1234]

We are about 2 1/2 years post BK. Did very little to re-establish credit. 1 secured card 6 months after, then 1 non secured at about 1 1/2 years after thru NFCU. Joined NFCU after reading posts on here.

We were pre-approved thru NFCU for up to $40,000 (that is what I asked for) at 1.79% for 60 months. It was approved immediately upon application. No stress, no negotiations or questions. Dealer was super impressed with the rate. Said the best rate he has seen in years was 1.9%.

I have been checking our credit score on Credit Karma (yes, I know it isn't a true score, but it is something and free) and both DH and I have been in the 680-695 range for the last year.

[tobee43]

congrats in order!!!!!




best of luck with your new car!

[SPalin]

Congrats on the new car loan! My CU told me no problem getting there 1.95% for 60 months since my BK was 3 years ago, 1.79% is a super rate! For me my TU FICO score is the same as Creditkarma and has been for over the three years I have used Creditkarma, and it's free!

[Epic]

Nice work!!! Did you simply apply online or over the phone? What CB did they pull from? Was it a hard or soft pull?

[help1234]

I applied over the phone... had never done the pre-approval thing before and called to ask how it worked. The rep said it was easier to apply over the phone, so I gave her the info and was approved immediately. We picked up the blank check the next morning. The original credit pull was on TransUnion and it was a hard pull. Within a couple of days the hard pull was on all 3 credit bureaus.

SUPER easy... no haggling with dealer. Simply told him "this is what we are willing to pay and I have the check in my purse". As a side note, we did not use the entire amount of the pre approval, so our payments were adjusted when the CU received all of the paperwork.

[Epic]

How long are NFCU's blank checks good for?

[help1234]

I don't really remember... 30 to 45 days, but it may have been longer.