Help with negotiation strategy

[ezdriver]

Wooooohhhhoooo! Received the approval from NFCU yesterday. It says that my paperwork can be picked up at the local brance which I identified at the beginning of the process. Had to send in my 2014 tax returns as my comission-based compensation structure is confusing to underwriters. Anyway, I went along not thinkingthat they'd approved my but they did. NFCU is awesome! To think that I only just opened the account two weeks ago with just $300 and they approved me for the amount that I requested with no fuss or drama. Wells Fargo is history in my book ... as I'm closing my account there tomorrow ... after twenty years of considering it my primary bank.

Also, as if that isn't sweet enough, I found the identical Porsche 911 S4 with only 16k miles and $5k less. I expect to close the deal and drive away with the car tomorrow.

[Anonymous]

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@ezdriver wrote:

Wooooohhhhoooo! Received the approval from NFCU yesterday. It says that my paperwork can be picked up at the local brance which I identified at the beginning of the process. Had to send in my 2014 tax returns as my comission-based compensation structure is confusing to underwriters. Anyway, I went along not thinkingthat they'd approved my but they did. NFCU is awesome! To think that I only just opened the account two weeks ago with just $300 and they approved me for the amount that I requested with no fuss or drama. Wells Fargo is history in my book ... as I'm closing my account there tomorrow ... after twenty years of considering it my primary bank.

Also, as if that isn't sweet enough, I found the identical Porsche 911 S4 with only 16k miles and $5k less. I expect to close the deal and drive away with the car tomorrow.

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@ezdriver,

Congrats..... We are eagerly awaiting pics. if you don't mind sharing.  You weren't expecting to enjoy this car alone, were you?

[Anonymous]

Double Post- Sorry.

[ezdriver]

Update...

When I called NFCU [just 10 mins ago ...today...Memorial day!] to change the dealer name and VIN, they told me that I must cancel the approved loan and reapply. OMG ... disaster ... but does not seem as bad as I expected. They took some of my info over the phone and reused some from the previous app. Five mins ago I received a text message to call them. I'm on the phone [on hold] with them right now. I learned that I could have applied for a preapproval instead of a specific vehicle from a specific dealer. Live and learn I guess.

Stay tuned ...

[Anonymous]

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@ezdriver wrote:

Update...

When I called NFCU [just 10 mins ago ...today...Memorial day!] to change the dealer name and VIN, they told me that I must cancel the approved loan and reapply. OMG ... disaster ... but does not seem as bad as I expected. They took some of my info over the phone and reused some from the previous app. Five mins ago I received a text message to call them. I'm on the phone [on hold] with them right now. I learned that I could have applied for a preapproval instead of a specific vehicle from a specific dealer. Live and learn I guess.

Stay tuned ...

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Whatttttt??  Definately keep us posted.  Will it be the same hardpull or a fresh pull?

[ezdriver]

Just ended the call with NFCU. They told me to go to my local branch tomorrow morning and sign cancellation confirmation for the previous approval and pick up my new check/papers. Is that awesome or what!

I wish that I had known about applying for a preapproval vs an approval with a specific dealer and car. The bank check they give leaves the dealer name off so I can fill that in when I get to the dealer. I will report later tomorrow on whether or not there was a 2nd credit pull [I don't care] but the rep did ask me if I had applied for any new credit, or paid off any existing credit, since applying for the loan. I told had that I had made some substantial payments that would not yet show on my credit reports as its been only about 7 days.

Can't wait to jump into the driver's seat and hit the road with my 911 4S. This is my treat to myself as I have accomplished my only other big objective ... buying a brand new home last year.

[Anonymous]

Very good news indeed... Enjoy and post pics... Don't forget

[StartingOver10]

Congrats EZ! Sounds like you have really come a long way very quickly. Waiting on the pics too

[Anonymous]

Woohoo!! Congratulations! Navy fed is the best!