Loan rates?

[shap]

Just to update you on the current time it takes:

Account Creation:
Created Date 5/3/2023. (I actually submitted a request on 5/2/2023, morning)
Approved Date. 5/9/2023
Account funded (5$) 5/12/2023. (Important step as without it they do not proceed with loan approval)

Loan Application
Created Date. 5/9/2023 Status - Pending


Hope that they will finish the process and deliver the check before the SC appointment
on May 18th...

Sponsored

 

[Spaceball1]

I just finished up the refinance process with USSFCU. They made it super easy. Only issue I had is their initial rate quote was 4.24% but jumped to 4.99% once they got my sales information. Since I bought it used, it falls under the used rates (I wasn’t sure if it would fall under used or new). But that’s still better than anyone else’s new or used rates so I can’t complain. What’s interesting is I was above the $75k cap they show on their used rates, but they still did it for me so that was cool.

If you’re the original owner, even if refinancing a year later, they said 2022 would still be considered new for the rates.

 

[shap]

I just finished up the refinance process with USSFCU. They made it super easy. Only issue I had is their initial rate quote was 4.24% but jumped to 4.99% once they got my sales information. Since I bought it used, it falls under the used rates (I wasn’t sure if it would fall under used or new). But that’s still better than anyone else’s new or used rates so I can’t complain. What’s interesting is I was above the $75k cap they show on their used rates, but they still did it for me so that was cool.

If you’re the original owner, even if refinancing a year later, they said 2022 would still be considered new for the rates.

Can you share the timeline - how much time it took?

 

[Spaceball1]

Can you share the timeline - how much time it took?

Sure thing. See below:

• Applied for Savings Account (including giving donation to the historical society): 7-Apr
• Approved for savings account (after some phone tag mostly on my end to verify information): 11-Apr
• Applied for refinance loan (I was waiting on my title work/plates to come back, though they haven't yet): 8-May morning
• Received phone call asking for more info, mostly about my income verifying and referral etc: 8-May evening
• Loan approved: 9-May
• Replied back with all the documentation they needed; registration (they were okay with my temp reg), paperwork from sale, copy of my ID, 10-day payoff letter from current lender: 10-May
• Loan finalized and check mailed (they even scanned and emailed me a copy of the check): 10-May

 

[shap]

Thank you - so they were really fast in your case!

 

[Jeevesbond]

Hey guys. Im at due diligence questions but cannot get in touch w anyone at ussfcu. Everytime i call they they send me to member services and they dont connect me w the credit union. Howd u get past that step

 

[LHB]

USAA has 60 month @5.25 and 72 month at 5.35.

 

[RadDad]

Hey guys. Im at due diligence questions but cannot get in touch w anyone at ussfcu. Everytime i call they they send me to member services and they dont connect me w the credit union. Howd u get past that step

I think the word is out on their rates--I got approved in a couple of days but their rep said they are getting flooded with applications. Also, per their website their rates have gone up by a percentage point across the board.

 

[Forager]

Yep, I've seen their name passed around a few different places now: Tesla subreddits, Polestar subreddits, my workplace Slack channel. I was amazed how long they kept their rates as low as they did. My approval went through last week for 3.49% at 48 months, hopefully that truly is locked for 60 days like I was told over the phone. Now a 48 month term is 4.24%

 

[Zoidz]

I applied for membership last week, got a request for additional validation info on Friday, waiting hear back on approval. Then I have to apply for the loan. They are 1.5% lower than my local credit union.

They pay over 5% on 24-36 month CDs. So you can take a loan, put money in a CD and come out ahead vs. paying cash for the vehicle, lol.

 

[Sevn86]

Local credit union here in Houston 4.99% for 60 months. Beats the other credit unions I use to use for all my past purchases. Before the rate jump those other credit unions use to run 2.49% for 60 months and 2.79% for 72 months all the time. Not no more! 5.99% for 60 months and 6.25% for 72months. ??‍

 

[TheGymKid]

I need to start looking into getting a loan. I read posted comments and started looking at USSFCU... But the application page is asking me if i"m a member of things, or someone sponsoring me. I guess anyone just can't apply.

 

[Trizzle29]

Been a member of DCU since 2021, they had rates under 2% when I bought my Bronco.

.50% discount for members - donation required to become a member
.25% for EV cars
no payments for 60 days

 

[shap]

I need to start looking into getting a loan. I read posted comments and started looking at USSFCU... But the application page is asking me if i"m a member of things, or someone sponsoring me. I guess anyone just can't apply.

Just read through the thread - there is an explanation of how to become a member in 5 minutes.

 

[Zoidz]

I need to start looking into getting a loan. I read posted comments and started looking at USSFCU... But the application page is asking me if i"m a member of things, or someone sponsoring me. I guess anyone just can't apply.

Members of United States Capitol Historical Society can join the USSFCU for $65 donation/membership to USCHS. They send you an email with your membership info, you upload that as part of the USSFCU application. Easy Peasy.

Sponsored