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      04-08-2011, 06:36 PM   #22
jaymk5
Bheem (Powerful and Fearful)
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Drives: "OnOrder" BMW X3 35i SpaceGray
Join Date: Feb 2011
Location: Plymouth, MN, USA

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Quote:
Originally Posted by flash3 View Post
I am planning to use BoA as well. What did you do? Did you get pre-approved over the web and then take that paper to BMW?
I am not sure how BoA works (MA78 will know the details, since he already has gone through that route), but according to my discussion today with PenFed agent, he mentioned that he can send a letter/email to me stating that I am pre-approved for so and so amount, incase if the check did not reach me on time, I can show this letter to the dealer and take delivery. He mentioned dealers usually honor those letters and if they want to verify they can call the penfed from their desk with the application number to make sure you are approved for the amount you are telling him. I am thinking that should be pretty much same irrespective of which bank you are working with. Hope this helps.
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