Does navy fed approve a used car loan if you have bad credit ?

I have fair credit and the hubs has poor credit, would we get approved ? Does anyone know the min. score they will work with ? We don't want a long term and we do have a lil to put down.

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  • echo
    Lv 7
    1 decade ago
    Favorite Answer

    NFCU is pretty good about lending to those with low scores (low 600's/upper 500's).

    In fact there are people that could only qualify for vehicle loans with sub prime lenders who ended up qualifying through NFCU with excellent rates.

    But much depends on the reason why the scores are low.

    Even if you have "older" negatives reporting you may not have to many problems. (I've seen others with 2 year old repo's, charge offs, tax liens or bankruptcies, etc., get auto loans, other types of loans, credit cards, etc)

    If you had recent negatives you may have problems (such as had an account charge off in the past 6+ months, etc.)

    NFCU generally pulls Equifax when looking at apps.

    I would suggest that you and your hubby pull your credit reports from all three CRA's. Look them over carefully.

    You should compare "your" EQ report to your other two and your hubby should compare "his" EQ report to his other two.

    If one of the other credit reports (for you or for him) looks much better than the EQ report, you might request that they pull that report instead of the EQ report. (while they have done that for others, there is no guarantee that they will pull a different report, much really depends on the loan officer you are dealing with)

    NFCU has excellent products and customer service.

    (I'm jealous since I have no way to be a member, lol)

  • 4 years ago

    1

    Source(s): Bad Credit Auto Loans - http://CarLoan.trustdd.com/?YEEB
  • Anonymous
    4 years ago

    Navy Federal Car Loan

  • regula
    Lv 4
    4 years ago

    Navy Federal Auto Loan

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  • 5 years ago

    This Site Might Help You.

    RE:

    Does navy fed approve a used car loan if you have bad credit ?

    I have fair credit and the hubs has poor credit, would we get approved ? Does anyone know the min. score they will work with ? We don't want a long term and we do have a lil to put down.

    Source(s): navy fed approve car loan bad credit: https://bitly.im/ZeIh0
  • 6 years ago

    Does navy fed approve a used car loan if you have bad credit ?

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  • Annis
    Lv 5
    5 years ago

    Hope this helps!

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