@Datx wrote:Is it normal for PenFed to ask me for the make, model, VIN and milege for the vehicle I am looking to purchase? I mean, eventually that information is going to be needed, but I am simply looking to see if I can get a approved for an auto loan so that I can go shopping for a vehicle. There are a few different vehicles that I will be looking at the next few days, so I don't know exactly what vehicle I am going to purchase yet.
I was hoping to get a blank check with my approved amount so that I can go out to the dealership and purchase from there. SDFCU offers this option, so I thought PenFed would have something similar.
I don't remeber PenFed asking me for this information but I could be wrong. They also did not give me a blank check to purchase the vehicle from the dealership. Instead, they sent me an approval letter which I took to the dealership and used that to purchase the vehicle. A few days later PenFed sent me a check for the exact amount and I took it to the dealership and handed it to them. By far the easiest way I've ever purchased a vehicle.
Thanks for the replies. So here is an update. I decided that I might want to look into buying new instead of used. With all the incentives and rebates going on, the price for new was only a few thousand more. So I called PenFed, and asked what I needed to do to apply for a New Vehicle loan instead of Used one that I applied for. The member rep I spoke to said he will just convert it to a new vehicle loan, and get it with one of the underwriters.
Declined. Reasons were:
-Deliquent past or present obligations
-Limited credit experience
So it went from...need vehicle information to continue with application. To....nah, no thanks. 
Oh well. I still have an application pending with SDFCU. They seem to be looking at the whole picture and at least asked for POI. They are taking some time to make a decision though.
