topic Re: PenFed Auto Loan Approval Time? in Auto Loans

PenFed Auto Loan Approval Time?

ManmanV2 — Tue, 05 Mar 2024 19:43:07 GMT

I was Pre-Approved for a autoloan from PenFed Yesterday morning for 30k. I selected my rates and finished out the application where it said it was pending review. Today its still pending and i havnt recieved a call or email asking for any info. Does anyone know how long it takes for them to come back with a final approval or denial or to ask for any other info?

Re: PenFed Auto Loan Approval Time?

Traveler101 — Tue, 05 Mar 2024 20:28:28 GMT

Give them a call because many times the website can jack it up. When I did mine, the rep got an underwriter on phone and got an approval fast on the phone after info on specific vehicle was submitted. Then an email few hours later with the confirmation.

Re: PenFed Auto Loan Approval Time?

CorpCrMgr1 — Tue, 05 Mar 2024 21:54:02 GMT

I'd make a call. Good luck!

Re: PenFed Auto Loan Approval Time?

ManmanV2 — Tue, 05 Mar 2024 22:22:03 GMT

I just called in and spoke with a rep about it they told me that the app is still under review by a underwriter and that i cant speak with their underwriters. The rep still didnt say anything about uploading paystubs or any other stuff just told me to wait it out.

Re: PenFed Auto Loan Approval Time?

Traveler101 — Wed, 06 Mar 2024 00:54:40 GMT

They generally will not let you speak to them directly. When I did mine, I was put on hold while she got an answer. I wish you luck. One would think the turnaround still has to be pretty fast while a car is being considered.