Timing and Lenders

[Anonymous]

About to buy a first car (used) for my son.  I'm a member of NFCU and am considering using them.  I've come to an agreement on price for a vehicle I'd like.  In reading about NFCU and their auto loans I need to wait to get the check in the mail (nowhere near a branch) before I can actually purchase the vehicle?  This isn't an electronic process?  And I can't just go to the dealership with a letter of pre-approval (assuming I'm pre-approved) to get everything started?  I feel I'm misunderstanding something.

Also, any other borrower options I should look at?  Moderate credit at 704, low utilization, one baddie, short credit file.  

Thanks for any advice/help!

[sccredit]

NFCU overnights the blank check to you once you have the preapproval done. 

[4sallypat]

If you want to stick with your CU lender, then do NOT give the car dealer permission to pull  your credit.

After you negotiate the car price total w/ TTL, get a purchase contract and send it or drop if off at your CU.

The dealer depending on how trusting they are, may let you drive off the lot with an "option contract" which says you will pay them in x number of days, the total sum.

Then you would return to the dealer with the check or your CU will send the check to the dealer.

[dunn2500]

NFCU gives you a check with a "not to exceed number"....you fill it out at dealership or home if they are delivering it to you

i didnt have to provide navy with any info on vehicle...