cancel
Showing results for 
Search instead for 
Did you mean: 

Auto Loan from Andrews FCU?

Established Contributor

Auto Loan from Andrews FCU?

Hey guys,

 

I have been trying to find some info on auto loans by Andrews FCU but haven't found much. Do any of you have any info on them? I know they are offering a very low 1.59% apr on used cars that I would def qualify for but im just wondering how their process works? I wonder if they issue a blank check like a lot of other banks? I don't know how much im needing just yet but it would def be nice to go ahead and get financing out of the way. Any info is greatly appreciated!



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 Smiley Wink
Message 1 of 8
7 REPLIES
Moderator Emeritus

Re: Auto Loan from Andrews FCU?

If you know your budget and terms... as in you know your Max amount you are willing to finance.. you can get preapproved up front.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 2 of 8
Established Contributor

Re: Auto Loan from Andrews FCU?


webhopper wrote:
If you know your budget and terms... as in you know your Max amount you are willing to finance.. you can get preapproved up front.

I think i pretty much know the max im willing to spend so how does the pre-approval work? Im new to auto loans so im not to familiar with anything lol. do i just apply for the max im willing to spend and apply for that amount? but lets say i apply for 20k but i find a car that i want thats only 15k, what happens then?



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 Smiley Wink
Message 3 of 8
Moderator Emeritus

Re: Auto Loan from Andrews FCU?

If you find a car that you want for 15k don't tell the dealership you're preapproved for 20k. When you agree on the price; call Andrews and tell them that the draft will be for 15k. The money is transferred via wire. The draft check is just an instrument to document the security instrument in the car.... my draft check has a place to write the VIN on it.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 4 of 8
Established Contributor

Re: Auto Loan from Andrews FCU?


webhopper wrote:
If you find a car that you want for 15k don't tell the dealership you're preapproved for 20k. When you agree on the price; call Andrews and tell them that the draft will be for 15k. The money is transferred via wire. The draft check is just an instrument to document the security instrument in the car.... my draft check has a place to write the VIN on it.

ahhh ok, starting to make more sense to me now, lol, Thanks Web!



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 Smiley Wink
Message 5 of 8
Established Contributor

Re: Auto Loan from Andrews FCU?

Well i just took the plunge and app'd! looks like i will know something tomorrow morning. Keeping my fingers crossed thati get approved and with the 1.59%, it wouldbe freakin awesome! This is my first-ever auto loan app, so i hope it turns out good lol im extremly nervous! The fact that i have to find a car ASAP doesnt help much haha but maybe all will be well! i will def come back and update once i find out something!



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 Smiley Wink
Message 6 of 8
Moderator Emeritus

Re: Auto Loan from Andrews FCU?

Good luck! !!!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 7 of 8
Moderator Emeritus

Re: Auto Loan from Andrews FCU?

Any news?

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 8 of 8