Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com - View Single Post - Dealer Worried about Pre-Approved Loan Check (PenFed)

Embalmer · 04-20-2009, 10:51 AM

So I just talked to my dealer and he seems to think that paying for a car with a pre-approved check is "not normal".

He is worried that some of these "online credit unions" charge hidden fees or if the dealer doesn't do something "exactly right" that the check will bounce.

This is a pre-approved check from Pentagon Federal Credit union. I am in Michigan and the CU is in Nebraska... so he was also worried that there wasn't a Brick and Mortar place here in Michigan.

Can any other dealers say whether this is a major concern for dealers? I thought a pre-approved check was GOOD thing.

Can he refuse to accept this check???

04-20-2009, 10:51 AM	#1
Embalmer 2G1FT1EWXA9103351 Drives: 2SS RS, SIM, 6pd, 20"Alum Join Date: Oct 2008 Location: Canton, Michigan Posts: 607 View My Garage	Dealer Worried about Pre-Approved Loan Check (PenFed) So I just talked to my dealer and he seems to think that paying for a car with a pre-approved check is "not normal". He is worried that some of these "online credit unions" charge hidden fees or if the dealer doesn't do something "exactly right" that the check will bounce. This is a pre-approved check from Pentagon Federal Credit union. I am in Michigan and the CU is in Nebraska... so he was also worried that there wasn't a Brick and Mortar place here in Michigan. Can any other dealers say whether this is a major concern for dealers? I thought a pre-approved check was GOOD thing. Can he refuse to accept this check???