On Monday, I called ACFCU to check the status of my auto loan application ($30,000, unsure about new or used, 60-month term, long-time CU member with checking, savings, CD, and previous auto loan). I was told that we were approved, 1.99% for new, and 2.99% for used. I was shocked, ecstatic, happy... So I continued shopping and figuring out our price ranges, etc. Then today, I found out from a different rep, the one who is actually handling the loan, that our APR is 4.99% for 60 months. Yesterday, I withdrew my approved application from DCU at 4.24% for 60 months, with a 0.5% discount for direct deposit. I am soooooo mad right now!
I applied for membership with DCU the same day as the auto loan. How do I handle this? Can I continue with my loan from DCU (status: CANCELLED). ACFCU said they would match or beat DCU's rate. But I am so frustrated with them right now. I told them I was upset about it, and didn't even receive an apology. My loan officer even submitted an application to refi my current auto loan with me agreeing. I was just asking if I could apply without another hard pull.
Somebody tell me what to do!!!!
@Ravensfan2001 wrote:On Monday, I called ACFCU to check the status of my auto loan application ($30,000, unsure about new or used, 60-month term, long-time CU member with checking, savings, CD, and previous auto loan). I was told that we were approved, 1.99% for new, and 2.99% for used. I was shocked, ecstatic, happy... So I continued shopping and figuring out our price ranges, etc. Then today, I found out from a different rep, the one who is actually handling the loan, that our APR is 4.99% for 60 months. Yesterday, I withdrew my approved application from DCU at 4.24% for 60 months, with a 0.5% discount for direct deposit. I am soooooo mad right now!
I applied for membership with DCU the same day as the auto loan. How do I handle this? Can I continue with my loan from DCU (status: CANCELLED). ACFCU said they would match or beat DCU's rate. But I am so frustrated with them right now. I told them I was upset about it, and didn't even receive an apology. My loan officer even submitted an application to refi my current auto loan with me agreeing. I was just asking if I could apply without another hard pull.
Somebody tell me what to do!!!!
Call DCU. The hp is good for 30 days and if nothing has changed with your income, they will not re run your credit.
@09Lexie wrote:
@Ravensfan2001 wrote:On Monday, I called ACFCU to check the status of my auto loan application ($30,000, unsure about new or used, 60-month term, long-time CU member with checking, savings, CD, and previous auto loan). I was told that we were approved, 1.99% for new, and 2.99% for used. I was shocked, ecstatic, happy... So I continued shopping and figuring out our price ranges, etc. Then today, I found out from a different rep, the one who is actually handling the loan, that our APR is 4.99% for 60 months. Yesterday, I withdrew my approved application from DCU at 4.24% for 60 months, with a 0.5% discount for direct deposit. I am soooooo mad right now!
I applied for membership with DCU the same day as the auto loan. How do I handle this? Can I continue with my loan from DCU (status: CANCELLED). ACFCU said they would match or beat DCU's rate. But I am so frustrated with them right now. I told them I was upset about it, and didn't even receive an apology. My loan officer even submitted an application to refi my current auto loan with me agreeing. I was just asking if I could apply without another hard pull.
Somebody tell me what to do!!!!
Call DCU. The hp is good for 30 days and if nothing has changed with your income, they will not re run your credit.
Thanks 09Lexie.
I sent an email to the supervisor at ACFCU. I literally about to call DCU when my phone rang. It was the supervisor at ACFCU. She apologized for the miscommunication and offered to beat DCU by 1%. So I told her they offered me 3.74%, which wasn't totally wrong. I just needed to open an account with direct deposit. She offered 2.74% for used, which is better than the original offer! I had already told her we decided to buy used. Not bad!
She also told me my refi was approved for 5.49% (2007 Camry) for 36 months. Deferred payments until October. I have 31 months left on my loan with Toyota at 10.89%, paying $300/mo. It would lower my monthly payment by $50.
AND, she also told me I was approved for a debt consolidation loan. What? I was so confused because I didn't apply for that. She said I could consolidate all my "small" credit cards into one payment at around 10% for 48 months, if I remember correctly. I ran up my balances, and DH too, when DH wasn't working for more than 2 months (March to mid-May). I need to figure this one out first. DH hasn't gotten paid yet for his time off. We should be getting a huge check for that this month. Long story. But if his check is as big as I think it will be, then no need for this loan.
So I am taking the refi, and hopefully, buying another car today. 
@Ravensfan2001 wrote:
@09Lexie wrote:
@Ravensfan2001 wrote:On Monday, I called ACFCU to check the status of my auto loan application ($30,000, unsure about new or used, 60-month term, long-time CU member with checking, savings, CD, and previous auto loan). I was told that we were approved, 1.99% for new, and 2.99% for used. I was shocked, ecstatic, happy... So I continued shopping and figuring out our price ranges, etc. Then today, I found out from a different rep, the one who is actually handling the loan, that our APR is 4.99% for 60 months. Yesterday, I withdrew my approved application from DCU at 4.24% for 60 months, with a 0.5% discount for direct deposit. I am soooooo mad right now!
I applied for membership with DCU the same day as the auto loan. How do I handle this? Can I continue with my loan from DCU (status: CANCELLED). ACFCU said they would match or beat DCU's rate. But I am so frustrated with them right now. I told them I was upset about it, and didn't even receive an apology. My loan officer even submitted an application to refi my current auto loan with me agreeing. I was just asking if I could apply without another hard pull.
Somebody tell me what to do!!!!
Call DCU. The hp is good for 30 days and if nothing has changed with your income, they will not re run your credit.
Thanks 09Lexie.
I sent an email to the supervisor at ACFCU. I literally about to call DCU when my phone rang. It was the supervisor at ACFCU. She apologized for the miscommunication and offered to beat DCU by 1%. So I told her they offered me 3.74%, which wasn't totally wrong. I just needed to open an account with direct deposit. She offered 2.74% for used, which is better than the original offer! I had already told her we decided to buy used. Not bad!
She also told me my refi was approved for 5.49% (2007 Camry) for 36 months. Deferred payments until October. I have 31 months left on my loan with Toyota at 10.89%, paying $300/mo. It would lower my monthly payment by $50.
AND, she also told me I was approved for a debt consolidation loan. What? I was so confused because I didn't apply for that. She said I could consolidate all my "small" credit cards into one payment at around 10% for 48 months, if I remember correctly. I ran up my balances, and DH too, when DH wasn't working for more than 2 months (March to mid-May). I need to figure this one out first. DH hasn't gotten paid yet for his time off. We should be getting a huge check for that this month. Long story. But if his check is as big as I think it will be, then no need for this loan.
So I am taking the refi, and hopefully, buying another car today.
Wonderful! Good for you 
Just an update...
We bought the vehicle I wanted yesterday - 2011 Toyota Sienna LE, certified pre-owned, $19,776, with 44,800 miles, $4000 trade-in, NADA value $21,500. With tax an tags, we ended up financing $16,700, which comes to $138 bi-weekly. I'm soooooooooo relieved and soooooooo happy!
My Experian score was 605, and DH was 676.
Nice! Congrats on your new van and the terrific financing you ended up with during this process