Loan rates?

[lg3103]

If I can get a higher return on my cash (e.g some banks offering 4.5%) and I can finance at 3.79% I take a credit any time. I’ll make more $$$ on compounding interest over five years than the interest I pay for the car loan. So why pay cash???

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[Wiffle]

I ended up at 3.99% for 4 years with UFCU (University Federal Credit Union) here in Austin. Anyone can join, you just need to sign up for the consumer council, which doesn't seem to require any effort.

Was hoping to get the 3.99 rate for 7 years w/ Parsons, but they've now taken over 1.5 weeks with my application...they did say I could refi w/ them at the same rate whenever I do get approved.

Good news is, taking delivery of my R1S today!

 

[Jack Smoke]

I did the Rivian loan @6.5% Call me lazy, but i plan on paying it off after a “get to know you” period. 6 months or so.

most of the rates I found after a brief search were in 5.8 to 6.5 range. Nothing lower came up on a brief google search

 

[kyunam]

I missed the boat on this but Cali folks can get 2.49% up to 72 mo. Apparently just gotta make a donation to join. Act fast though, offer only good til December 31.

https://www.myeecu.org/

Based on their eligibility requirements, not everyone can join. Correct?

 

[Ngkgb]

Based on their eligibility requirements, not everyone can join. Correct?

I think you need to be in California.

 

[Monkey]

I think you need to be in California.

Yeah, myeecu.org only works for people in California as the vehicle must be registered in CA to qualify for their rates.

 

[canikony]

Based on their eligibility requirements, not everyone can join. Correct?

yeah seems pretty restrictive..

I Qualify For Membership As:

• Certificated or Classified employee, or student, of a school/school district in any of the 12 counties EECU serves**
• Retiree of a school/school district who now lives in in any of the 12 counties EECU serves**
• Employee, contract physician or other medical professional service provider of Valley Children’s Healthcare
• Employee of St. Agnes Hospital who works in Fresno, CA, including those paid by Trinity Health
• Member of the former Sol Val Tel Federal Credit Union membership base. Click here for a detailed list.
• Relative or household member of an existing EECU member or a person eligible for EECU membership†
• Member of a Board of Education or Board of Trustees of a licensed/accredited school system in any of the 12 counties EECU serves**

 

[kyunam]

yeah seems pretty restrictive..

I Qualify For Membership As:

• Certificated or Classified employee, or student, of a school/school district in any of the 12 counties EECU serves**
• Retiree of a school/school district who now lives in in any of the 12 counties EECU serves**
• Employee, contract physician or other medical professional service provider of Valley Children’s Healthcare
• Employee of St. Agnes Hospital who works in Fresno, CA, including those paid by Trinity Health
• Member of the former Sol Val Tel Federal Credit Union membership base. Click here for a detailed list.
• Relative or household member of an existing EECU member or a person eligible for EECU membership†
• Member of a Board of Education or Board of Trustees of a licensed/accredited school system in any of the 12 counties EECU serves**

I called and talked to a person.

To enroll, you need to meet one of those bullets OR you make a small donation

So, while I was on the phone, I applied for an auto loan (3.5%) and once I'm approved, I will make $10.00 donation.

 

[canikony]

I called and talked to a person.

To enroll, you need to meet one of those bullets OR you make a small donation

So, while I was on the phone, I applied for an auto loan (3.5%) and once I'm approved, I will make $10.00 donation.

ahh... good to know!

 

[Lmirafuente]

I called and talked to a person.

To enroll, you need to meet one of those bullets OR you make a small donation

So, while I was on the phone, I applied for an auto loan (3.5%) and once I'm approved, I will make $10.00 donation.

Did it cost you to apply? (seperate from having to donate $10)....thanks in advance for the response!

I was thinking about them and Tenet.

 

[Honey]

I called and talked to a person.

To enroll, you need to meet one of those bullets OR you make a small donation

So, while I was on the phone, I applied for an auto loan (3.5%) and once I'm approved, I will make $10.00 donation.

What was the term/life of the loan?

 

[Prime]

I called and talked to a person.

To enroll, you need to meet one of those bullets OR you make a small donation

So, while I was on the phone, I applied for an auto loan (3.5%) and once I'm approved, I will make $10.00 donation.

Do you have a estimate of on how long the approval process takes by any chance?

 

[kyunam]

Do you have a estimate of on how long the approval process takes by any chance?

It took less than a day.

 

[kyunam]

What was the term/life of the loan?

3.5% for 36 - 72 months as listed in their web site.

 

[kyunam]

Did it cost you to apply? (seperate from having to donate $10)....thanks in advance for the response!

I was thinking about them and Tenet.

$5 to open a checking account.

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