topic Re: NFCU Auto Loan Question in Auto Loans

NFCU Auto Loan Question

paris75 — Fri, 03 Apr 2015 20:48:25 GMT

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?

Re: NFCU Auto Loan Question

Anonymous — Fri, 03 Apr 2015 21:13:49 GMT

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.

Re: NFCU Auto Loan Question

Anonymous — Fri, 03 Apr 2015 21:14:59 GMT

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.

Re: NFCU Auto Loan Question

Anonymous — Fri, 03 Apr 2015 21:23:35 GMT

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.

Re: NFCU Auto Loan Question

paris75 — Fri, 03 Apr 2015 21:41:44 GMT

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.

Re: NFCU Auto Loan Question

Anonymous — Fri, 03 Apr 2015 22:21:38 GMT

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.

Re: NFCU Auto Loan Question

Anonymous — Fri, 03 Apr 2015 22:22:16 GMT

Re: NFCU Auto Loan Question

Anonymous — Fri, 03 Apr 2015 22:23:07 GMT

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.

Re: NFCU Auto Loan Question

paris75 — Fri, 03 Apr 2015 22:52:05 GMT

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

Re: NFCU Auto Loan Question

Anonymous — Sat, 04 Apr 2015 00:57:12 GMT

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

Re: NFCU Auto Loan Question

Anonymous — Sat, 04 Apr 2015 01:01:11 GMT

Congrats again if you don't mind me asking what was your score and how long have you been with Navy just asking for future reference. I really want a new aHonda Oddessey in the future (after this car is paid off and doesn't run anymore) and want to keep my loans with Navy. A fully loaded Honda Oddessey is about 40K so that's whay I was asking. Congrats again

Re: NFCU Auto Loan Question

paris75 — Sat, 04 Apr 2015 20:57:16 GMT

Thanks for all your help!! My EQ score, from this site, is 738. I've been with Navy since 2012. Hope that helps!

Re: NFCU Auto Loan Question

paris75 — Sat, 04 Apr 2015 21:00:33 GMT

Sorry one more question, I asked for fedex overnight delivery, but when I check online it says the loan doc will be sent 5-7 days. Did yours say that too?

Re: NFCU Auto Loan Question

Anonymous — Sat, 04 Apr 2015 21:56:02 GMT

Thanks for sharing your stats Is this your first auto loan ever?

Also where online does it state 5-7 days? Does it say that in your message from NFCU (in your online account) that's starts with "based on your creditworthiness you been approved........"

What happened in my case was that I selected Overnight delivery with Saturday Delivery which would be that I would have my docs on the Saturday after I applied. I picked to have the $17 taken out of my NFCU savings. Soon after I read that approval message that I got that started with "based on your creditworthiness" in that message it stated that my docs would be ready at a branch to pick up as I requested!!!! I got worried because I picked to have them fedex'ed with Saturday delivery. I called about 2 times that day (Thursday when I applied) and both reps told me it must be a glitch and not to pay attention to it because on their end they can see I requested to have it sent through Fedex (with Sat delivery) they advised me that the money would come out after I took delivery of the docs and I would get them most likely that Saturday they told me that Friday around 1-2pm I would get a message with the tracking number and if I don't to call and ask for it.

I was nervous because I didn't want to be waiting for them to come in the mail when they would be sitting at a branch waiting for me. Friday came and I didn't get a message wih a tracking number so around 2-3pm I called and the lady said I did have a tracking number (it was just created) and gave it to me. She also stated I would most likely have the docs the next day on Saturday since I picked that.

I checked the tracking number and it said estimated delivery was Monday and it said "deliver on weekday only" I called back and told them about that! I told them I didn't want to be charged the 17 for Saturday delivery if it's not going to be delivered on Saturday. The rep told me to wait and see. If I got it Monday like it says and I get charged the $17 then to call back and they would refund it.

At this point I didnt understand why everything was so wrong. First the message said it would be at a branch, then they shipped it Fedex Overnight but without Saturday Delivery. Thats when I came on here and asked. Quite a few people said no matter what they picked they received it overnighted with a paper in it that stated "congrats on your new auto loan, your docs were sent out fedex overnight free of charge" (something along those lines) so I just waited to see what would happen. I got the docs on Monday and sure enough there was a note in my docs that said NFCU paid to have it overnighted free of charge which is why it was sent out without Saturday delivery. I never got charged anything.

My point is no matter what you will get your docs overnighted and it will be free of charge. Even people that picked to have it sent standard mail got their overnighted for free. Also if it's that message that's stating it will take 5-7 days disregard that. My approval message told me that my docs would be ready at a branch as I requested and when I called no one knew why it said that. It was fedex'ed as promised and even though I wanted to go car shopping Saturday, I couldn't be mad because it was pouring down rain on Saturday and I wasn't charged at all to have it overnighted.

Also, I'm not sure because it's a weekend but call them and ask if you have a tracking number yet. I was told I would receive a message with my tracking number and I never did (still haven't received one). I'm not sure if Fedex picks up on Saturday but one might be created already just waiting on pick up and when you get that you can track it and see your estimated delivery day.

Sorry it's a little long! Hope this helps

Re: NFCU Auto Loan Question

Anonymous — Sat, 04 Apr 2015 22:08:48 GMT

Re: NFCU Auto Loan Question

Anonymous — Sat, 04 Apr 2015 22:12:54 GMT

That's where it told me that my docs would be ready at a branch as requested even though I didn't request that so if that's where your 5-7 day message is I wouldn't pay attention to it. Like I said just call and ask for the tracking number. I was also told that I didn't have to be home or anyone had to be home for that matter that they would leave it in my mailbox. (I didn't know if it was going to just show up on Saturday and I had something very inportant come up last minute) but it came Monday and I did have to sign for it. So i don't think they would of left it if I wasn't home since I had to sign for it. I was waiting by the window all morning for Fedex on Monday lol and when they pulled up I ran to the door lol I was so excited. *its my first car loan

Re: NFCU Auto Loan Question

paris75 — Sat, 04 Apr 2015 23:44:33 GMT

I've had 2 paid auto loans previously, but all under $15k. This is my first time buying a new car and with a higher price tag.

The tracking won't be available until Monday. I guess it was approved too late yesterday. That's a bummer that it needs a signature. I specifically asked because there will be no one home during the day. I was originally going to change it to my work address, but since she said they would leave it at the front door I didn't. As soon as I get the tracking, I'm going to see if I can change the address.

Gotta play the waiting game...wish there was instant gratification where I could go buy my car TODAY!!!

Re: NFCU Auto Loan Question

Anonymous — Sun, 05 Apr 2015 00:52:58 GMT

It will be soon enough!! And it's def worth the wait! It was such a simple and quick process. I told the dealership that I wanted to stay with Navy....they never pulled my credit or even ask for my social but the dealer was also a preferred dealership with Navy (I didn't know till I got there because I hid the fact that I had my own financing till we said yes to the car) he said they get a lot of draft checks from Navy and USAA but they were really familiar with the way Navy works. At first when I told them I had my own financing with Navy they told me they would have to give me a buyers order to take back to Navy and pick up a check. I then said I already had the check (a blank draft) and then they said "oh wow your ready to go then" signed a few papers plus the check and that was it. I bought my car on 3/17 and the check cleared on 3/19-3/20 and the online account was listed when I logged in that following Saturday on 3/21 it was very quick. The F&I guy even agreed with me that I should stay with Navy to build a relationship because that's what he did with his CU and CUs will be there for you when no one else will.

This was my first car loan ever. I went used (large family and wanted to get use to the extra bill a month) but down the road I might look into buying new whih is why I wanted to build a relationship with navy.

I could be wrong. They might be able to leave it becausee he CSR I talked to said the same thing but the guy knocked on the door and when I opened it he was still standing there with a signature pad in his hand. When I got my Navy CC fedex'ed overnight. The delivery guy knocked and when I answered the envelope was sitting between my door and screen door and he was already walking back to his truck and I didn't have to sign. I know there are options on FedEx's website that allows you to reschedule delivery, pick it up, or change delivery address. Maybe when you get the tracking number call FedEx yourself and ask about them needing a signature and if they will just leave it. I would just call back on Monday and get the tracking number and go from there. Since it will shipped out on Monday you will get it Tuesday. They shipped mine out Friday and Saturday morning the tracking showed it was at my local FedEx facility but couldnt be delivered since it was a Saturday. Congrats again and thanks for sharing.