NFCU Auto Pre-approval Expiring need advice

[Anonymous]

I applied for a pre approval auto loan with NFCU around the end of February and it expires at the end of the month. After searching I finally decided on a 2014 jeep grand cherokee overland and the dealership is going to have to place an order to get it built. The pre-approval is for 35k and it looks Ike I'm going to be pushing 40k drive out. I'm not sure if its best to run the app again to try and secure a new pre-approval and potentially risk losing my guaranteed amount and apr vs. using the 35k and paying the 5k out of pocket. My score was 651eq/627tu at the time of application and since then I have been approved for 2 cc for 20k with a balance of $2500 between the two. My income is 75k but I fear because the cc updated balances won't reflect until after April 30th I risk losing a guaranteed approval or a potential higher apr and approval amount increase. Any nfcu experts available to give advice? Thanks so much

[dodfire]

If you can afford to pay the $5k upfront you are much better off because that is $5k built in equity to the vehicle and you are avoiding the interest over the life of the loan.

If the money is an issue...I would call NFCU and ask them if they can reconsider the approval for the $40k using your existing application and HP.

[starry1]

+1000.  Speaking as someone who is underwater on their car loan, I envy you the opportunity to have built-in equity from day one.  Go for it if you are able to come up with the 5k.

[webhopper]

If the VIN number is available, go ahead and hand over the check... Otherwise you can call NFCU and ask them to extend your deadline or your pre-approval

I got my pre-approval literally the day before I ordered the car. By the time the VIN number was available, there were about 10 days left until the NFCU check expired.