Loan rates April 2023 thread

[ATXrONEt]

I know there are other threads, but I wanted to start a new thread for loan rates and terms that people are getting for April 2023, just so its relevant and up to date.

I’m picking up in about 14 days and will be shopping in Austin Texas for the best rates (I have 6 credit unions lined up). I will also shop Rivian and share my terms.

Looking for:

1. Reservation date
2. Model and options
3. Color/Interior
4. Bank name
5. Interest rate
6. Down payment
7. Number of months
8. Trade Offer

Cheers, and looking forward to joining the group!

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[TXR1S]

What credit union(s) are you seeing the best rate from of the 6 you have lined up?

 

[ATXrONEt]

What credit union(s) are you seeing the best rate from of the 6 you have lined up?

I am not applying until next week when my score eclipses 800. Will be applying to these, but leaning on my Navy Federal Credit Union account:

• https://www.atfcu.org
• https://www.rbfcu.org
• https://aplusfcu.org
• https://www.navyfederal.org
• https://www.velocitycu.com/open-an-account
• https://www.ufcu.org/open-an-account
• https://www.ccutx.org

 

[Tibi]

I am picking up an R1S in about 14 days. Blue with black interior
For trade-in, Rivian offer wasn’t acceptable- extremely low so I’ll sell my car separately.

Regarding rates: Rivian 6.48; Alliant credit union: 6 (based on their website). Still looking.

 

[ATXrONEt]

I am picking up an R1S in about 14 days. Blue with black interior
For trade-in, Rivian offer wasn’t acceptable- extremely low so I’ll sell my car separately.

Regarding rates: Rivian 6.48; Alliant credit union: 6 (based on their website). Still looking.

Interestingly enough, Rivian offered more for my trade than Carmax or Carvana, by over 1000. With the trade tax credit it was a no brainer.

 

[Tibi]

Interestingly enough, Rivian offered more for my trade than Carmax or Carvana, by over 1000. With the trade tax credit it was a no brainer.

Which car are you trading in?

 

[R1T Preds Fan]

I’d be shocked if you find anything more aggressive than 6% unless the term is 48mo>

 

[ATXrONEt]

Which car are you trading in?

2022 Hyundai Santa Cruz

 

[ElkinsEye]

Locked in 5.24% 60 months through BofA yesterday. Local credit union is advertising 5.49%.

 

[zefram47]

I know there are other threads, but I wanted to start a new thread for loan rates and terms that people are getting for April 2023, just so its relevant and up to date.

I’m picking up in about 14 days and will be shopping in Austin Texas for the best rates (I have 6 credit unions lined up). I will also shop Rivian and share my terms.

Looking for:

1. Bank name
2. Interest rate
3. Down payment
4. Number of months

Sounds like Navy Federal is on your list. When I was shopping around in March NFCU was by far the lowest I was able to find and looks like they're still offering the same rates today at 4.74% for 60 months. I had to do the pre-approval route since my VIN wasn't accepted by their system, but that locked in the rate for something like 60 days, so I'd do it sooner rather than later. I wound up financing the remainder after they gave me $30k for my 4Runner, which surprisingly beat Carvana, CarMax, etc.

Basically Navy Fed gives you a document that shows what you're pre-approved for and you fill in the vehicle make/model/VIN and financed amount that Rivian gives you. Fill in other info Navy Fed and/or Rivian want and send it to Rivian for receipt before your delivery date. Rivian then has to call Navy Fed and get the loan activated. You'll get your promissory note notification via email, sign it online, then send a copy to your guide for documentation/titling purposes. Things happened very quickly for me and mine showed up at the SC about 1-2 weeks before my guide thought it would. By the time delivery scheduling opened up there were only 2 days available and less than a week away so I had to overnight the loan doc to them.

 

[pc500]

Sounds like Navy Federal is on your list. When I was shopping around in March NFCU was by far the lowest I was able to find and looks like they're still offering the same rates today at 4.74% for 60 months. I had to do the pre-approval route since my VIN wasn't accepted by their system, but that locked in the rate for something like 60 days, so I'd do it sooner rather than later. I wound up financing the remainder after they gave me $30k for my 4Runner, which surprisingly beat Carvana, CarMax, etc.

Basically Navy Fed gives you a document that shows what you're pre-approved for and you fill in the vehicle make/model/VIN and financed amount that Rivian gives you. Fill in other info Navy Fed and/or Rivian want and send it to Rivian for receipt before your delivery date. Rivian then has to call Navy Fed and get the loan activated. You'll get your promissory note notification via email, sign it online, then send a copy to your guide for documentation/titling purposes. Things happened very quickly for me and mine showed up at the SC about 1-2 weeks before my guide thought it would. By the time delivery scheduling opened up there were only 2 days available and less than a week away so I had to overnight the loan doc to them.

Sounds confusing.
Penfed gives you a check to sign and pay to the dealer.

 

[who764]

This FCU was posted on another thread and they are still showing rates as low as 4.49% for up to 84 months (with auto-debit and other discounts). You have to pay ($65) to get the back door membership (since I am not a member of the Senate) but that rate makes it worthwhile. I haven't applied to this CU so I don't know how easy the process is, but it is the lowest rate I have seen recently.

https://www.ussfcu.org/resources/rates.html#new-auto-loans

 

[TXR1S]

I applied for membership to ussfcu 4/5, still waiting for approval. You have to get membership before you can apply for a loan. Hoping to apply asap.

 

[fromSf]

Two days ago, I applied for ussfcu membership using American consumer council (acc) posted in their website, if you use the code in their website acc is free.

They requested few additional docs after applying for membership (paystubs, proof of address, bank statement etc). Hoping loan application process is smooth and simple.

 

[SoCalGuy]

Two days ago, I applied for ussfcu membership using American consumer council (acc) posted in their website, if you use the code in their website acc is free.

They requested few additional docs after applying for membership (paystubs, proof of address, bank statement etc). Hoping loan application process is smooth and simple.

They require paystubs just for membership or did you mean for the loan application?

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