USAA Used Car Loan Approval

[Anonymous]

That and the blood of my first born child. Verification of identity shouldn't be this hard.

[Hoya08]

Proving your residence location can be very frustrating.  A utility bill is used to determine your "real" location and not a "dummy" location.  The reason?  If you're paying the electric, water, and gas bill, it's a very good chance you live there unless you're a very nice person who's willing to pay someone else's utility bill.

Tell the bank you live with your parents and thus do not have any utility bills in your name.  If you're phone bill is in your name, and the billing address is to your parent's home, ask if they will accept that for proof of residence location.

[Anonymous]

Heres an update. I provided a copy of my most recent bank statement and a copy of my of my most recent cell phone bill and they have responded by saying that I have to have a utility bill. I'm done with DCU. I've given them a passport, a drivers license, a social security card, a bank statement and a cell phone bill. Their verification is worse than the FBI when I first joined the army. Screw em. I'll take my money elsewhere.

[Anonymous]

Okay so I called in and asked to speak with a new accounts service manager and explained my situation. After reviewing the application and the submitted documents he explained that the reason for the stringent verification is because that my credit report is reporting an address in another state. It happened to be my father's address. After I identified this address he went ahead and approved the application. So now I'm a DCU member! I didn't have to submit the blood of my first born child afterall.

[pipeguy]

Sorry about your experience with DCU, but believe me it's worth it now that you are in. 

My wife's car was getting a bit long in the tooth and we were starting to look at some expensive issues that I could see coming, so I "pre-applied" with DCU for a used car loan in the area of what I thought I'd need. Approved in 24 hours, that was on the 19th. Today I picked up a 2013 Impala LTZ fully loaded with leather, sunroof, etc with 35k on it with an out the door price just under $16k. 

Submitted the sales contract to DCU and drove it home. Not only did my payment for her car go down $50 a month, but my interest rate is 1.49% with a total interest charge of just over $600 if I take all 60 months to pay it off - too easy and no dealer financing "hustle".

Add this to free checking and checks, plus an 8.5% APR Visa with no transfer or cash advance fees and I'm a real fan of DCU !

[Anonymous]

DCU approved me for 15k loan with 1.49% at 48 months repayment plan. I turned it down. I need 20k minimum. Waste of my time.