NFCU Auto Loan Question

[paris75]

I just applied online for an auto loan with NFCU.  I was approved for $48,000 at 2.29%, but opted for the amount that I had requested.  In the middle of choosing the terms, a "session ended" screen popped up and I got kicked out.  I logged back in and there was no record of my loan!  I called in and she said I had to do it all over again.  After she submitted it, she said she'd call over to see if I was approved, but the wait time ended up being to long and she asked me to call back or check online.  Is it weird that I wasn't automatically approved the second time?  Am I going to get double pulled?  She asked me if anything on my report had changed in the last 30 days, so I'm not sure if they are using an old report or pulling a new one.  This was so frustrating!  And now I have to wait!  Has this happened to anyone else?

[Anonymous]

What happens when you apply for a auto loan with NFCU is halfway through it will tell you that you are pre-approved and will give you the amount you are pre-approved for and that's when you can pick if you want the amount they pre approved you for or the amount you requested. This is the Not the approval screen, this is just the preapproval screen.....

After doing that it will take you the next screen which will give you other options (like how do you want to the draft mailed, do you want to set up auto payment or pay through mail, etc) after that is when you officially submit your app. At that point you will be approved (instantly) or it will go into review. There are some people who were pre approved for a certain amount and term then at the very end their app went into review and then their amount and term changed. Or some people who was preapproved but at the end their app said 3-5 days and it was just because they wanted paystubs and other documents.

So getting the pre approval screen doesn't mean you are technically approved (If that make sense). I just completed a auto app in the middle of March and halfway through it said i was pre approved for a higher amount. I picked that amount and at the very end it said I was approved but some people have their app go into review after getting the Preapproval screen

Hopefully this makes sense. Just keep calling or checking online. You will get a answer soon enough.

[Anonymous]

You will most likely get double pulled as well because right before the pre approval screen is when they pull your credit and when filling out the app it states that if your credit is pulled and you don't finish the app you will have to apply again which will be a 2nd pull.

[Anonymous]

Most of the time though when you get the pre approval sceen you are technically approved (when it's a instant denial you won't get the preapproval screen) but after fully submitting your app is when it will tell you if you are officially approved or if it went into review. Most of the time when it goes into review they just need paystubs or other documents before approving it. Other times a underwriter will just look at it and approve it without anything. So like I said just keep checking or calling you will get a answer soon and I'm sure it's a approval.

[paris75]

Ahhhh!! Thank you for clearing that up. It's finally showing up as "in review", although I received a text saying aporoved. Not sure what to believe at this point.

I really hope they don't double pull, the whole purpose on me getting a pre approval from NFCU was to avoid the dealership double pulling! Crossing my fingers I get the same rate I was originally approved for.

[Anonymous]

I'll crossed my fingers that you don't get double pulled!! navy is known to be hardpull happy unfortunately. That is weird about getting the message approved and it still being under review. When I applied I was instantly approved and received a approval text asap and when I checked the app status it stated approved and I even got a email saying approved and a message in my navy account stating "based on your creditworthiness you have been approved....."

I would call back, maybe you are conditionally approved meaning that you are approved but they need paystubs or other documents first im keep my fingers crossed for you.

[Anonymous]

[Anonymous]

That is the final screen I got. I got the pre approval screen half way threw and thought like you I was approved but it was at the very end when I actually got approved. 

[paris75]

Thank you!!!! I called and it was approved! How long did it take for you to get the loan docs.?

They said I was approved for $48k though. I had asked to only be approved for $40k when I applied so I'm not sure why they still did it for 48. I don't want to get carried away. Lol

[Anonymous]

Congrats!! They normally FedEx it overnight for free!! But I applied on a Thursday and didn't get my docs in the mail till Monday it takes a day before they are mailed out. Like I said I applied on Thursday, then Friday around 2pm I called and got my tracking number and got the docs on Monday since it doesn't include Saturday delivery and bought my car on Tuesday. It's very very easy! You don't have to use the whole 46K