DCU Tag Tax Title

[Anonymous]

I was approved with DCU for up to a 40,000 auto loan up to 100% of a vehicles value but was told that I would have to pay the Tag Tax and Title. I thought that if I got a vehicle for a price less than the value and under 40000 I could include it in my loan, but no from my understand. Is everyone told this? Is this normal for DCU? Am I just misunderstanding the process?

[Kree]

When I applied to DCU, I was approved for up to 120% of the vehicles value. I bought used.

My understanding is that up to 120% of the value was standard, not just for DCU, but for most auto financers.

Is this your first auto loan?  Sometimes financers will want a consumer to have some sort of downpayment or buyin for their first vehicle purchase.

[Anonymous]

i would submit the purchase order to DCU and let them tell you we have to take TTL out? i doubt DCU will do it, but worth the try.

[Anonymous]

As they will only loan up to 100% of the vehicles value (negotiated purchase price or msrp/nada value, whichever is lower), they will not cover any additional fees or costs whether the car you choose is a $40k or a $12k car.

You can call them back and see what the reason was, and if they will negotiate on that point. But for my financial situation (not just my FICO EQ5) they said it was non-negotiable. I was given up to 80% value due to no previous statement loan.

[Anonymous]

i would go shop elsewhere?

give us your data points and someone will suggest a better option/deal for you.