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DAP Forums > DREAM Act > The Lounge

Where can I get auto loan in NYC?

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#1
05-23-2016, 05:09 PM
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halo5544
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I tried Chase it doesn't work (it required my working Visa because I am non-permanent resident/citizen), anyone tried other bank or credit union and succeeded?
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#2
05-23-2016, 07:44 PM
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Chyno
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Try PenFed.

I have 0.99% on a new car for 4 years.
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#3
05-23-2016, 07:51 PM
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halo5544
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Quote:
Originally Posted by Chyno View Post
Try PenFed.

I have 0.99% on a new car for 4 years.
Is the application completely online? Looks like they don't have an office in NYC.
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#4
05-23-2016, 07:53 PM
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Chyno
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Quote:
Originally Posted by halo5544 View Post
Is the application completely online? Looks like they don't have an office in NYC.
Correct completely online. Your laptop is in NY so it fits your criteria.

Give it a try. Remember to apply for loans during the same week so it doesn't take a big toll on your credit report.
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#5
05-23-2016, 07:55 PM
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Try local credit unions at your borough. They won't give you a hard about your status based on my experience.
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#6
05-23-2016, 07:57 PM
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Quote:
Originally Posted by Chyno View Post
Correct completely online. Your laptop is in NY so it fits your criteria.

Give it a try. Remember to apply for loans during the same week so it doesn't take a big toll on your credit report.
Can you please explain more what do you mean by big toll? and why same week?
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#7
05-23-2016, 08:07 PM
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Quote:
Originally Posted by halo5544 View Post
Can you please explain more what do you mean by big toll? and why same week?
According to several sources (Google) you want lenders to run your credit in a time period so it doesn't destroy your credit. Whenever you apply for a loan the lender leaves a hard mark on your report. This marks are bad. If you have too many of them it will lower score significantly.

Therefore you want to do it in a 1 week period. Some sources say 1 month too.
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#8
05-23-2016, 08:42 PM
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Quote:
Originally Posted by Chyno View Post
According to several sources (Google) you want lenders to run your credit in a time period so it doesn't destroy your credit. Whenever you apply for a loan the lender leaves a hard mark on your report. This marks are bad. If you have too many of them it will lower score significantly.

Therefore you want to do it in a 1 week period. Some sources say 1 month too.
Thanks, BTW, what kind of documents are needed for this credit union?
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#9
05-23-2016, 09:07 PM
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Adding to what Chyno said, when you are shopping around for credit, the credit agencies will look at that and only count it as a one time hit on your report. So if your looking for a loan and say get 10 inquiries on your credit report, they will only count it as one if it is done within 45 days
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#10
05-23-2016, 09:58 PM
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Quote:
Originally Posted by Malign0n View Post
Adding to what Chyno said, when you are shopping around for credit, the credit agencies will look at that and only count it as a one time hit on your report. So if your looking for a loan and say get 10 inquiries on your credit report, they will only count it as one if it is done within 45 days
Even with 10 different lenders looking at my credit report (if I tried apply auto loan from 10 different lenders to see which succeed), it counts as 1 ?
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