I went to my CU about a possible auto loan after my October discharge. I was told the CH13 was no problem as long
as I had a decent score. They ran everything and told us they would give us a 8.9 on used and 7.9 on new.
This weekend we went shopping and found a new one but the price was really too high for our first loan after BK
so we went elsewhere and found a certified pre-owned we liked. Once everything was negotiated we were asked
about financing and I explained we have CU financing and less than stellar credit. They asked if we would allow them
to try and asked what our rate was. We decided to let them try but only using the brands financing - not blasting it
out to everyone and I honestly had a brain lapse and told them we were approved for 7.9. They came back later
saying they could not beat the rate but would match it. Fast forward to today - I talked to my CU and told them we
purchased this weekend at 7.9 and was told they would refinance us in 2 months beating it by 2 points. Luckily the
dealer called and forgot to get a copy of our residency proof so the deal was still waiting to be submitted.
I called the CU and was told to come pick up the check so no refinancing will be required and they gave us 5.9%
as I had a decent score. They ran everything and told us they would give us a 8.9 on used and 7.9 on new.
This weekend we went shopping and found a new one but the price was really too high for our first loan after BK
so we went elsewhere and found a certified pre-owned we liked. Once everything was negotiated we were asked
about financing and I explained we have CU financing and less than stellar credit. They asked if we would allow them
to try and asked what our rate was. We decided to let them try but only using the brands financing - not blasting it
out to everyone and I honestly had a brain lapse and told them we were approved for 7.9. They came back later
saying they could not beat the rate but would match it. Fast forward to today - I talked to my CU and told them we
purchased this weekend at 7.9 and was told they would refinance us in 2 months beating it by 2 points. Luckily the
dealer called and forgot to get a copy of our residency proof so the deal was still waiting to be submitted.
I called the CU and was told to come pick up the check so no refinancing will be required and they gave us 5.9%
Comment