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DCU auto loan help

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DCU auto loan help

hello everyone. my wife just recently got approved by dcu bank for a 25000 auto loan. they called yesterday said she had to make an account and fax or email in paystubs and normal stuff. they told her that her loan is approved but couldnt be processed until monday. we went today found her car and put a security deposit on it. we do have a copy of the purchase agreement to upload to them. my question is on monday will they directly pay the dealer or will they give us a blank check to give to them. 

thanks for any help im only worried because the dealership is a hr and half away and were suppose to pick up monday.

Message 1 of 4
3 REPLIES 3
Senior Contributor

Re: DCU auto loan help

Once your account is open and your auto loan is "funded" they'll send you a check for the amount on the sales contract- check will be made out to you and the dealership.

 

At least this is what they did to/for me on a recent auto loan.

Message 2 of 4
Frequent Contributor

Re: DCU auto loan help

Yes I had the same experience picked my vehicle on a Saturday evening called DCU on Monday morning and they charged me $15 and I received the check overnight. It was made out to me and the dealership as well.


@pipeguy wrote:

Once your account is open and your auto loan is "funded" they'll send you a check for the amount on the sales contract- check will be made out to you and the dealership.

 

At least this is what they did to/for me on a recent auto loan.


 

Message 3 of 4
Senior Contributor

Re: DCU auto loan help

Personally I did not pay the over night fee - I bought the car on New Years Eve (end of year, end of month, last chance at that bonus) and I had the check 3 days later counting the holiday.  The dealer will be glad to wait as long as they know the check is in the mail. You can have the dealer call and talk to DCU on the phone too.

Message 4 of 4
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