topic Re: Pre-Approved for NFCU Auto Loan - will they ask for POI later? in Auto Loans

Pre-Approved for NFCU Auto Loan - will they ask for POI later?

Anonymous — Thu, 25 Jan 2018 21:52:26 GMT

I was approved for a NFCU auto loan with a 2.99 rate, and am waiting for the blank check/etc to arrive in the mail.

I have decent scores - they even offered higher than what I requested, but I decided to go with what I originally asked for.

What happens next? Would they have already asked for POI if they needed it, or will I be surprised after signing off and driving the new car off the lot? What is the likelihood of being asked for POI? I'm a contractor who is currently in the middle of being granted fulltime employment with the company I've worked with for years, so I won't have check stubs for another few weeks.

Thanks!

Re: Pre-Approved for NFCU Auto Loan - will they ask for POI later?

Jwagner — Thu, 25 Jan 2018 22:07:09 GMT

well, once you already have the money in hand, spent and taken possession of the car, it's a little late at that point. They can ASK, but there's no real AA they can do if you don't comply.

Close your accounts on you as punishment maybe? But as far as making you return the car, no, they don't posess that kind of power so long as you're current. You're approved and given the money in hand (per se). end of argument

Re: Pre-Approved for NFCU Auto Loan - will they ask for POI later?

Anonymous — Thu, 25 Jan 2018 22:19:55 GMT

Thank you so much! I've always used the dealership for lending in the past, so this is a first for me. The dealership actually has a decent finance rate offer going on right now, but I think I'd rather build my relationship with NCFU.