Loan rates?

[Hed007]

Longtime lurker first time poster. In the process of 8 steps for R1S delivery. Thank you everyone who’s posted on this thread.

I applied to USSFCU vía donation to historical society. Approved @ 60 months, 3.94%ish. Credit score fluctuates in the mid 800’s. I will have confirmation of exact rate tomorrow. Process has been smooth and costumer service been great.

Quixk question; for those already approved and disbursed, did USSFCU pay Rivian by check, ach or wire transfer?

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[longhornguy2015]

They will only pay by check. You need to send it via fedex and provide Rivian the tracking number and picture of check.

 

[Guy]

Just got 5.84% 84 months with usaa with >800 credit score. Planning on refinancing in future

Wow 84 months.

 

[fromSf]

USSFCU's rates seem too good to be true...? USSFCU is universally trashed by clients everywhere (broken system and unresponsive customer service are common themes in reviews). They also send you to a "loanspq" site that collects your social security number, passport, and other personal membership information (I haven't found any information regarding the legitimacy or safety of loanspq). Has anyone here actually used USSFCU in the past or is this everyone's first time applying there?

2 cents based on my experience so far with membership application process:

1. Didn't get the feeling of shady and only experienced excellent customer service. My membership got approved on Friday (applied on Sunday 4/9).
2. Just submitted the loan application.
3. Their CD rates are higher or better than lot of banks.
4. I didn't provide passport, only copy of the pay check, bank statements etc.
5. Don't think you can get a loan or open a bank account without SSN.

YMMV, sharing my experience here.

 

[Honey]

Wow 84 months.

? what?
Put 45k down and financed the rest, will refinance next year ? if rates are cheaper.

 

[Ngkgb]

Wow 84 months.

I did 96 month at 3.75. Lol. Why not when money in the bank makes a lot more than that.

 

[Guy]

? what?
Put 45k down and financed the rest, will refinance next year ? if rates are cheaper.

I was just thinking if the compound interest over such a period. I wouldn’t bet on rates being lower next year.

 

[Honey]

I was just thinking if the compound interest over such a period. I wouldn’t bet on rates being lower next year.

Then I'll just pay the car off completely next year if rates jumped up, no biggie....but imo during election season, i think we may be in a better place....

 

[Guy]

Then I'll just pay the car off completely next year if rates jumped up, no biggie....but imo during election season, i think we may be in a better place....

Hopefully but the Fed is independent so no guarantee just because it is an election year that rates would go down significantly.

 

[longhornguy2015]

I put Tesla and then write out Rivian r1s

 

[longhornguy2015]

I put Tesla and then write out Rivian r1s

Wrote out

 

[fromSf]

2 cents based on my experience so far with membership application process:

1. Didn't get the feeling of shady and only experienced excellent customer service. My membership got approved on Friday (applied on Sunday 4/9).
2. Just submitted the loan application.
3. Their CD rates are higher or better than lot of banks.
4. I didn't provide passport, only copy of the pay check, bank statements etc.
5. Don't think you can get a loan or open a bank account without SSN.

YMMV, sharing my experience here.

Applied loan on Sunday night and today was approved for 60 months @ 3.74%.

 

[mkg3]

Applied loan on Sunday night and today was approved for 60 months @ 3.74%.

That's actually amazing considering the prime rate of 8%, HYSA paying over 4% and money market being around 4.5%.

 

[Hed007]

Applied loan on Sunday night and today was approved for 60 months @ 3.74%.

I just received my confirmation on the portal. Same as you. 60 months @ 3.74% for $70K

 

[ycking]

I applied for Ussfcu membership on 4/14/23. I submitted few docs after application. Today I was asked call their hotline for required due diligence questions.

Those of you have applied for loan, how long do lock in your rate? I had the 8 steps for purchase open up R1S on 4/14/23 and not sure if my R1S will be ready before end of next month or sooner.

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