I've applied for a used car loan at a credit union I've done business with since 1990. The loan amount is $8,000 more than the underwriter approved me for. I've had a previous car loan that is paid off, and I currently have a car loan, all with the same credit union, and all in good standing. There's no mortgage on my house, no major outstanding bills, and I have good credit. The reason I was given for not qualifying for a higher amount according to the underwriter was that the loan amount I'm applying for is too significant compared to the previous loans.
Read more: Who can I contact if I disagree with a credit union underwriters decision regarding a car loan?
