USAA Pre-Selected

[wreith]

I logged into my USAA account today to pay some bills and I noticed this in my offers.

My Offers

Welcome to the USAA Offers page. You can refer to this page anytime you want to see all the new discounts, promotions and product pre-approvals available to you as a member of USAA. You may also refer back to this page to review details and disclosures for active and completed offers.

  

Auto Loan — Pre-Selected up to $20,000.00Details Showing. Click to Hide.

USAA AUT

New

Expires on                  09/10/2013

Product Pre-Selected Up To Rate Expires

Auto Loan*

$20,000.00

6.79% Fixed

09/10/2013

     This offer may be the right choice if you want:

• To save money with low member-only rates.
• Up to 100% financing with no down payment.
• Flexible terms and payment options.

Limited Time Offer: Get an extra .25% to .50% discount1 off your auto loan rate when you purchase your vehicle through the USAA Car Buying Service.               Learn More    

Now does this mean I have been approved for sure, or if I apply for it they could say "you know maybe we'll only give you $10K instead"?  I've never had a pre-selection before and I am looking to trade in my car.  Thanks for any input.

*edit*

I just noticed that there is an accept now button.  I guess if I click that I'm good to go for the $20K?  Again any input would be greatly appreciated.

[john398]

to me that seems a little high % compared to Pen Fed

[ezdoesit]

I have the same pre approval in my offers but for 50k 2.49%.  I did apply a month ago when I had another auto preapproval was approved but decided against buying a car because I am waiting for some more 2014 models to come out.  So I guess I wasted a HP.

My point is when they approved me they also sent me an email that stated if I was at the dealership and got a better offer I could call them to see if they could match of beat the dealerships APR. 

From what I have read when you get a preapproval you have a very good chance of getting approved I know I did for both my CC and auto loan.  BTW my scores are pretty similar to yours.

[wreith]

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@john398 wrote:

to me that seems a little high % compared to Pen Fed

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Penfed doesn't like me too much.  I think I'm still too much of a risk for their conservative nature.  I have a share account with them but have twice been denied a CC with them.  I have never gotten any targeted offers from them either.

[Volpes]

There is a VERY good chance you are approved; I'm sure you realize this, but it does say "up to $20,000" so if you apply don't be surprised if they offer you thousands less on the final terms.

That rate seems a little high considering your scores; is your credit profile clean? sorry I asked It seems like USAA doesn't have the competetive interest rates they use to have (except for their full-member credit cards).

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@wreith wrote:

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@john398 wrote:

to me that seems a little high % compared to Pen Fed

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Penfed doesn't like me too much.  I think I'm still too much of a risk for their conservative nature.  I have a share account with them but have twice been denied a CC with them.  I have never gotten any targeted offers from them either.

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If Pen Fed relaxed just a little tad more on their lending I would have joined,  but instead I choose a different CU

[HoldingOntoHope]

USAA pre-selected offers as as good as guaranteed and I do believe that the up to $20,000 is only going to be dependent on the value of the car. So I think you can safely shop with this in mind. If I were going shopping I would simply keep this offer in mind and go to the dealer. Tell them you have financing at X% and let them try to beat it. They are not going to need to see your loan check from USAA. If they beat it you can take what they offer or if it's only by a slight bit you can put down a hold deposit and go fill out the USAA app and call them.