DCU approved & auto-loan pre-approved

[agforfree5]

Hello,
First of thank you everyone on this form for mentioning DCU, or else I would have had no idea.

I just submitted my application online and was approved. I was also pre approved for a $25k auto loan.

I am looking to refinance my current auto loan which is about that much at much higher.
So, does anyone know if the pre approval are really legitimate and could it be used for a refi as well ? And can I process any of the refinance loan application online, until I receive the pin in the mail ?

Thanks in advance.

[Anonymous]

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@agforfree5 wrote:
Hello,
First of thank you everyone on this form for mentioning DCU, or else I would have had no idea.

I just submitted my application online and was approved. I was also pre approved for a $25k auto loan.

I am looking to refinance my current auto loan which is about that much at much higher.
So, does anyone know if the pre approval are really legitimate and could it be used for a refi as well ? And can I process any of the refinance loan application online, until I receive the pin in the mail ?

Thanks in advance.

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I'd call them tomorrow. I'm not entirely sure what you're trying to do (both new car and refi? or one or the other?) They're helpful on the phone, though when you don't have a member number yet, it's a little difficult to navigate the phone system. 

Congrats and GL! 

[Anonymous]

You SHOULD have gotten your member number in the welcome email or the confirmation page.  Give them a call and explain what you want to do or just go ahead and apply online.  If you are pre-approved you should be good.  You do not need the pin to request the loan, just to pay it when the time comes but you get 30 days from the funding date so you have plenty of time to get the pin in the mail.  I just went through the same process with them and it has been painless thus far.  Just got my first direct deposit from work and made my first loan payment today actually

[Anonymous]

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@Anonymous wrote:

You SHOULD have gotten your member number in the welcome email or the confirmation page.  Give them a call and explain what you want to do or just go ahead and apply online.  If you are pre-approved you should be good.  You do not need the pin to request the loan, just to pay it when the time comes but you get 30 days from the funding date so you have plenty of time to get the pin in the mail.  I just went through the same process with them and it has been painless thus far.  Just got my first direct deposit from work and made my first loan payment today actually

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I didn't think I got DH's member number yet EXCEPT that it shows on my account because I'm a joint holder on the checking and saving he opened. Maybe I just missed it. I'm still waiting on his welcome kit with the pin. That part was so odd to me, that you can't do anything online until you get something in the mail and you use your ATM pin as the initial password. I want to say they even asked for it on the phone system when I called in. Very odd. 

That being said, I'm super happy with them in the week+ I've had dealings with them. Nice to hear an update from you too wesleym. 

[agforfree5]

Thank you all for your response and assistance. I applied for the auto-loan refinance this morning and was approved right away. I have already signed the documents and the consumer lending should be cutting out a check any moment now :-)  

I was approved for 1.74% interest rate.. but if I don't set up direct deposit within 90 days, the interet rate will go up .05%... which is still fine!

[Anonymous]

Congrats!

[Anonymous]

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@agforfree5 wrote:

Thank you all for your response and assistance. I applied for the auto-loan refinance this morning and was approved right away. I have already signed the documents and the consumer lending should be cutting out a check any moment now :-)  

I was approved for 1.74% interest rate.. but if I don't set up direct deposit within 90 days, the interet rate will go up .05%... which is still fine!

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Congrats! (but I'm pretty sure it's 0.5% it goes up, not .05%) 

[Anonymous]

+1