@2b2rich wrote:I applied online at NFCU for a $25k preapproval and was approved. I will be picking the check up when they open tomorrow but am wondering if I can only use this at dealerships or could I use it to purchase a vehicle from someone who is selling their vehicle? I know I will find out to orrow, but just curious now.
My daughter had the pre approval check and its only good for dealerships but we found a car through a private party and were able to visit the branch and get it converted to a check issued to the seller of the car. The branch folks were so friendly and even helped with notarizing the title for the transfer and they cashed the check for the seller at the same time so he left with cash and she left with a new loan and a new to her car. It was a good experience. The branch was in Fort Worth and she lives in Tulsa but I live outside of Fort Worth and the guy selling the car also lived in Fort Worth so she just drove down here.
FICO 9: 
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
@2b2rich wrote:
@webhopper wrote:
@2b2rich wrote:I applied online at NFCU for a $25k preapproval and was approved. I will be picking the check up when they open tomorrow but am wondering if I can only use this at dealerships or could I use it to purchase a vehicle from someone who is selling their vehicle? I know I will find out to orrow, but just curious now.
My daughter had the pre approval check and its only good for dealerships but we found a car through a private party and were able to visit the branch and get it converted to a check issued to the seller of the car. The branch folks were so friendly and even helped with notarizing the title for the transfer and they cashed the check for the seller at the same time so he left with cash and she left with a new loan and a new to her car. It was a good experience. The branch was in Fort Worth and she lives in Tulsa but I live outside of Fort Worth and the guy selling the car also lived in Fort Worth so she just drove down here.Thank you! I had a feeling it was going to be dealership specific, since it asked that question in the app and that's what I put, just wasn't sure if it was chiseled in stone. I appreciate your information!
You're welcome! Happy car shopping!
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Is there a SP or HP for the pre approval? Thanks in advance. Also what are your DP's for approval?
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