NFCU Second App

[MakeItAMudLight]

I initially applied for a Navy Federal auto loan online without a specific vehicle in mind.  Now that I have found something it is slightly more than I initially asked for and I'd like to change the terms as well.  I know this is considered a new app with NFCU.  If I reapply online will that be a new HP or do I need to call in and get them to take the app over the phone to use the original pull?

[Anonymous]

I don't know how your credit union works but mine went like this. I applied for a credit card, but was denied. I asked them to use the same pull to apply for a car loan. I was approved at 6.99% Apr up to 10,000. I go to a car dealership and I give them permission to only pull experian and one pull only. They go thru MY same credit union and get me a 5.99% Apr which is 1% lower, weird, but okay. I'll take it. Anyways, to answer your question I think if you tell them ahead of time to use the same credit pull, they will probably do it if it is within 30 days old.

[BungalowMo]

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@MakeItAMudLight wrote:

I initially applied for a Navy Federal auto loan online without a specific vehicle in mind.  Now that I have found something it is slightly more than I initially asked for and I'd like to change the terms as well.  I know this is considered a new app with NFCU.  If I reapply online will that be a new HP or do I need to call in and get them to take the app over the phone to use the original pull?

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I have had 5 car loans with Navy Fed.  Had vehicles in mind, got a check for the seller, changed my mind, got a check for a dealer...had that expire...been through it all.

The only time they will run your credit again is when you have a check (like my dealer check) and it expires before you find something.

Believe me, when my sweet Audi was totaled in May (other driver at fault), that was the 3rd time in 14 months where someone tagged me & totalled my car.

Navy Fed knows me well when it comes to auto loans.  When I got that first dealer check, I still owed on my Audi. (her ins company hadn't paid the loan off yet) My int rate was 6.4!!!  I owed about 11k.  When the check expired, I knew I was gonna take another hit for the inq...car had been paid off & now loan was for 2.8!

I love Navy fed!!

[Anonymous]

I recently applied for an auto loan at nfcu for 21k, they instantly approved it and came back with a higher approved amount of $26k.i withdrew because i wasn't comfortable with $421 a month payments. then a couple days ago, i applied ago for 21k but i made the mistake of entering the vin and dealership name and they did approve me but i have changed my mind about the dealership and amount. i want to only get a 20k loan to get a lower rate and i want to use a different dealership. i have not picked up the check or any loan documents from nfcu yet. is it too late to lower the loan amount and change the dealership since i put the vin in instead of doing a "preapproval".

[Anonymous]

As far as your initial approval, I had a similar situation.  I recently applied for a 20k loan from NFCU and was approved, not instantly, but within two hours for 24k. I called CS to check on the APR and was told the amount.  The CSR stated, I did not have to use the entire amount of 24k, but that was the maximum amount I could use and any downpayment would further reduce the amount of the loan.  I hope this helps.  Give them a call and explain your situation.  By the way, I spoke with CS on 9/19 around midnight EST.  I'm on the west coast.