topic Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess? in Auto Loans

UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

Charger2014 — Tue, 27 Oct 2015 18:23:40 GMT

Hi All,

Well I am really excited, I bought a car in April 2014. Brand new Dodge Charger RT unfortunately my credit was horrendous, now fast forward to today and I got approved to refi with DCU from 17.99% down to 5.7! I literally wanted to reach over the phone and hug the girl taking my application info. I did not extend or shorten my loan payoff date. Its for 54 months. She told me now I have to wait 24-48 hours and I should receive an email from the main office with the documents they will need. I am in california so theres a 3 hour difference. I want to know how long it took you guys to finalize and close as well as what kind of documents you might have had to present.

DCU is Great, hopefully it all goes through, I have read some stories of people here getting approved then denied..

My Equifax was 632 thats what she pulled and loan amount was $26,719. Car value was $30k and some change.

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So excited right now, just signed the docuforms and sent everything over, DCU Should be sending out the check for delivery tomorrow to payoff current loan.

Went from 17.99% down to 5.7% for 54 months. I bit the bullet and paid the high interest for 18 months but I did it! Thank you ALLL!

Score went from 503 to 632 in 2 years! A lot had to do with util but now I see light and its bright! 700 here I come.

Re: DCU Question about proccess?

Charger2014 — Tue, 27 Oct 2015 16:54:07 GMT

Anybody? I still havent heard from them, I called back to say that I did want the GAP insurance but they told me it was still pending and I havent received the request for verification or anybody contacting me

Re: DCU Question about proccess?

EddieK — Tue, 27 Oct 2015 19:56:03 GMT

All you can do at this point is wait and see. Most likely, your loan went to the underwriters for final approval since you're at the low end for approved scores with them. Hope it works out for you, they're really easy to work with on their auto loans. Good luck.

Re: DCU Question about proccess?

EddieK — Tue, 27 Oct 2015 19:58:45 GMT

Oh, looks like you were finally asked to send in the documents...nice! Great job.

Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

StartingOver10 — Tue, 27 Oct 2015 20:03:40 GMT

Congratulations on getting a much better rate with your refi! What a wonderful feeling to get into the single digits after stuggling, congrats!

Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

Anonymous — Tue, 27 Oct 2015 21:36:02 GMT

Congrats!! Enjoy it.

Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

Anonymous — Tue, 27 Oct 2015 23:40:40 GMT

I did the same thing!

I am currently in love with DCU and making the process of making it my main bank.

Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

Charger2014 — Wed, 28 Oct 2015 16:31:40 GMT

Yes, Thank you All.

I wished I hadnt wasted a hard pull with Capital One, even then they declined me. Oh well, time to garden for 12 months

Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

bigpoppa09 — Thu, 29 Oct 2015 16:39:26 GMT

congrats on your approval but wat got the approval was your LTV u werent upside down. i am a member with DCU im not impressed i applied for a auto loan with them 680 EQ Fico denied me but i see people all the time with weak scores and a BK on there report they will give them a loan and i dont like the fact when u apply for a loan product they dont call u have to call them so unprofessiona. then when u call u get a regular CSR then they call the loan officer i didnt call to speak to the middle man. and im not say this just because they denied me a auto loan im just stating facts oh and they had the balls to send me a Email a week later do u need a auto loan.

Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

Charger2014 — Thu, 29 Oct 2015 16:47:37 GMT

Hi, well I actually had close to 2500 bucks in equity in my car, my util was 39% overall, my debt to income was really low like less than 15%. I had my subprime loan for 18 months plus I had already had an auto loan with no baddies. What reason are they giving you for denial? I had no issues with the processing I applied over the phone and got approved, got an email for the documents and then called after I sent them and closed. Also I forgot to add Gap so I called back and within 20 minutes it was taken care of.. I think they use a call center and that's why their is mixed reviews on their customer service.

Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

pipeguy — Thu, 29 Oct 2015 16:49:36 GMT

@bigpoppa09 wrote:
congrats on your approval but wat got the approval was your LTV u werent upside down. i am a member with DCU im not impressed i applied for a auto loan with them 680 EQ Fico denied me but i see people all the time with weak scores and a BK on there report they will give them a loan and i dont like the fact when u apply for a loan product they dont call u have to call them so unprofessiona. then when u call u get a regular CSR then they call the loan officer i didnt call to speak to the middle man. and im not say this just because they denied me a auto loan im just stating facts oh and they had the balls to send me a Email a week later do u need a auto loan.

@Not sure what is going on with your loan app and DCU, but my experience has been nothing but positive using DCU for a car loan (used car last december 1.49%) and a credit card which was issued last November at $6900 SL @ 11.99% and just got increased to $10,500 @ 9.5%. Their CSR are outstanding and any email I send gets answer quickly even on weekends.

My experience with DCU is outstanding, but I guess if you don't get approved for a loan through DCU your outlook is different.

Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

bigpoppa09 — Thu, 29 Oct 2015 18:43:32 GMT

no sir Pipe GUY im not basing wat i said cause they denied the loan thats over with and done with they not the only one that do loans and at the end of the day i still got my auto loan. i said wat i said because i didnt get no good service not because being denied for the loan. and to Charger2014 Congrats again the chargerRT has been my dream car for a long time when i refinance next year thats wat im gone get.

Re: UPDATE!!! JUMPING UP AND DOWN! lol DCU Question about proccess?

Charger2014 — Thu, 29 Oct 2015 18:50:39 GMT

Thanks, My rebuild proccess started when I purchased it with 10k down and a 508 score...so happy its finally refinanced and with a good CU, I honestly had no problems with DCU and loved their service!