NFCU Auto Loan Process?
Okay so, I got approved for an auto loan at NFCU (Navy Federal Credit Union). Now; my question is... what is the process because I have so many people telling me different things. Can I just get the check at nearest branch? Or do I have to have the VIN#, owners name, make, model, and copy of title?
- Uncle BoLv 71 decade agoFavorite Answer
NFCU is a good place to get a loan, but I seriously doubt they'll hand you a check and say, "do whatever you want".
Most banks want a VIN of the car you are buying before they will fund it. NFCU might give you an approval letter for up to a certain amount. You can take that letter when shopping for a car, adn the dealer can call the NFCU to process payment.
I do a lot of credit union deals, and most of them want a buyers order from a dealer. That describes the car, the VIN, and all costs and fees with a total amount at the bottom. You take that to NFCU, they cut a check in that amount, you take the check to the dealer and buy that specific car.Source(s): I sell cars and deal with this all the time.
- Anonymous4 years ago
The best advice I can give you is to stay away from cheap come on gimmicks like that. Nobody gives away cars, are you kidding. They got you the loan. You just didn't like the terms. The fine print, if you read it, will state that the terms of the financing may require a large down payment or a co-signor. Or the rates will be so lousy you'd be a fool to sign those papers. They didn't promise a great loan, they just promised you a loan. Nobody lied to you. You got hooked into a situation that happens hundreds of time a day to people in your situation. But you were smart, you didn't fall for it, you didn't get emotionally involved and sign your life away for a car. Go to your bank or to a Credit Union. Ask them for a car loan. Get a legitimate offer from a real financial provider, not a "dude" at some shady used car lot.
- How do you think about the answers? You can sign in to vote the answer.
- Anonymous7 years ago
At SMARTFINANCESOLUTIONS.NET you can find the best rates for you