Can I Be Pre-Approved For an Auto Loan? Pre-approval is not a guarantee for an auto loan because there are other terms that may apply. Credit unions do offer competitive rates as compared to banks. They may also offer some sort of life insurance with your auto loan. Contact Us For more information about auto loans, contact the loan professionals of Valley Federal Credit Union at their Brownsville branch by calling (956) 546-3108, or their Harlingen branch at (956) 425-5668.