My auto loan has been approved. How long is the approval valid?
Auto loan approvals are good for 60 days. At the end of your 60-day approval period your application will expire and you will need to submit a new loan application.
At any time during the approval period, you may request an AutoDraft, if you are purchasing a vehicle from a licensed auto dealer. You’ll need to request an AutoCheck if you are:
- purchasing a vehicle from a private party
- refinancing a loan at another financial institution
- buying out the remainder of a lease
- refinancing a PSECU vehicle loan
- borrowing against a vehicle you own free and clear
- purchasing a recreational vehicle
- purchasing an antique or classic vehicle
AutoDrafts and AutoChecks may be requested by contacting a loan specialist at 800.LOAN.555.
AutoDrafts are good for 120 days from the date of issue and you will receive the interest rate in effect on that date.