DCU Auto Loan

[Yoshi2015]

So last time I applied for DCU auto loan in 2016 I received a decision over the phone. I was approved and I used them to purchase the car I have now. After a year or so Capone offered me a better rate and I refinanced. No issues, lates or anything it was really just a better rate and shorter term. Well fast forward to today I apply as I'm heading to dealership thinking I'm going to get approval over the phone and BAM! I'm referred to UW for a decision at earliest Monday. That was a bummer knowing I couldn't show approval and get car today. According to rep, since Covid all of their applications are being sent to UW to approve. Does this mean I'm going to be denied? I have 693-730 FICO depending on the model. I don't have any lates or any baddies. My util is a little high at 32% but mainly on one card. Has anyone else been sent to review and received approval or should I look at penfed? I have a relationship with both. I wanted to do dcu bcuz of 84 mos financing. I am so afraid I'm going to get denied. Anyone been through similar and had positive outcome or is this a precursor before denial? 😫😫

[Brian_Earl_Spilner]

My last loan app with them was pre-approved. After I applied it went to UW. They needed paystubs so I uploaded. About a week later I still hasn't heard back so I called them and they processed while I was on the phone. They ended up doubling the original offer.

[Yoshi2015]

Ok well that makes me feel a little bit better. I didn't have pre approval but maybe it is just a necessary step! Thanks for sharing! 

[Anonymous]

I wouldn't worry.

The world has changed.

I just did a loan with DCU with similar numbers to yours and was approved but it did take a couple of days.

They said everything goes to underwritting now no approvals over the phone.

[Yoshi2015]

Awesome! Thanks for sharing that! It makes me feel better. Hopefully all will be well! Fingers crossed! 😊

[dunn2500]

there ya go!