Auto Loans

[torndollar]

Hi!

I just checked "My Offers" on my USAA online account and it shows that I have a pre-approval for an auto loan of up to $50,000 with 4.29% interest. Does anyone know if this means that I am automatically approved or will I have to apply and get hit with inquiries and possibly not be approved?

Thanks for the help guys!!

[Creditaddict]

Your Approved from what I have read but you usually don't end up with the full 50k to shop, once you apply they will give you the highest you qualify for.

[torndollar]

Thanks for the reply, Creditaddict! I don't mind not getting the full $50k! I can't afford a $50k car anyway!

Do you know if they will hard or soft me?

[shirley88]

They will do a hard hit for the actual application. Your pre-approval was most likely granted from a soft hit.