Penfed Auto loan approved - Questions! - **UPDATE** PURCHASE COMPLETE!

[Trinzero]

Good day all!

I requested and received pre-approval for $65k auto loan through Pefed, however I am not set on the vehicle I want to buy.  I may end up choosing a Challenger costing less.  Would I apply for the 65k and if its less, can it be changed?

Is the check they send made out for the amount?  Do I need to be set on the exact car before I go to buy?  

How long does it take to receive said check?

🤔🙃🤯🤪

I feel like I have seen reference to all of these questions, but I cannot find any threads now that I want to lol 

So I am very sorry for any already touched on questions 🫤

I have also seen threads about buying through dealer financing and immediately refi through Penfed. 

I'm not sure if this would be a better option for the undecided buyer...

Thanks for any info from anyone!

Please don't tell me to call Penfed lol  😂💗

I dislike phone calls soooo much! 📵☎️

[xkaosx]

You dont have to have the car selected yet. Once you find a car you get a total out the door price and then penfed will cut the check for that amount and send it to you to give to them.

[Trinzero]

Thank you for this response!

[Trinzero]

Got this completed last week, waiting on the check I THINK should be here today!

Thank you for the info I was able to get here!  I would never have known of Penfed if not for these forums!

[LakeLife]

Congrats!  Gorgeous car!  

[bigpoppa09]

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@Trinzero wrote:

Got this completed last week, waiting on the check I THINK should be here today!

Thank you for the info I was able to get here!  I would never have known of Penfed if not for these forums!

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Congrats 

Mopar or no Car!