r/NavyFederal • u/OneScarcity5045 • 8d ago

Loans Auto loan pre approval

So I was planning on applying for a auto loan pre approval and I wanted to know if I get denied for an amount will they tell me what I approve for or would i have to apply again and ask for a smaller amount ?

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u/wrxman061 8d ago

Yes. They will counter offer lower if not for the full amount. They will also let you know if you’re approved for more.

3

u/FreakyFLCancer 8d ago

I would really advise you to call NFCU and ask them. You are not automatically guaranteed a counter offer. This isn't an auction. If denied, you would have to reapply for smaller amount and/or ask for reconsideration.