Lowest interest rates in September?

[jessefive]

I was able to get 2.74% for 72 months at Philadelphia FCU, with their EV/hybrid discount. You have to live or work in Philly to be a member.

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[sevengroove]

Cross-posting this.

In shopping around for rates I wound up applying to some credit unions at the beginning of this week Parsons, First Service, and AdelFi.

Within a day of those 3 membership applications and loan application at Parsons someone started trying to impersonate me with quite a bit of my personal info and tried to take over several of our banking accounts.

Just sharing in case this is happening to anyone else, to be clear I am not stating that these two things are connected but the timing is making me wonder if one of those CUs could be compromised.

Hope this isn't happening to anyone else and this is just random, but just wanted to put this out there as an FYI and public service announcement.

That sucks dude, sorry to hear. What do you do in a situation like this? Freeze your credit and hope for the best? Also, how are they able to figure out what other bank accounts you have if you don’t provide that on the application?

 

[the long way downunder]

Cross-posting this.

In shopping around for rates I wound up applying to some credit unions at the beginning of this week Parsons, First Service, and AdelFi.

Within a day of those 3 membership applications and loan application at Parsons someone started trying to impersonate me with quite a bit of my personal info and tried to take over several of our banking accounts.

Just sharing in case this is happening to anyone else, to be clear I am not stating that these two things are connected but the timing is making me wonder if one of those CUs could be compromised.

Hope this isn't happening to anyone else and this is just random, but just wanted to put this out there as an FYI and public service announcement.

Thanks. That's an all too common experience. Though this time it sounds like an inside person at one of the credit unions might be skimming. Most identity fraud starts with a data breach.

I'd suggest revisiting each bank/CU and asking them to interrogate their processes (and people) then asking them to pay for identity protection. Separately, freeze your account at each of the four* credit score corporations (which I think is government sanctioned racketeering.)

It's important to have a "safe" email address that is never used for non-business purposes and has a unique "hard" password and not just a variant of a password. i.e. if your rivianforums password is @#$%*!-123 and your gmail password is @#$%*!-345 … you've reduced your gmail password to just three numbers if/when the software hosting rivianforums gets breached.

I see no value in paying a "protection service" – they add no protection. Apply a freeze at each credit corporation and use their free reporting to monitor changes. With a freeze, it's basically impossible for a thief to abuse your credit. When I bought an auto loan recently, each bank had to call me to get permission to access my credit (U.S. Bank, Chase and Wells Fargo sell the lease/finance products behind Tesla.)

Because of data "theft" at a large bank, we've had credit locks and identity theft alerts and an identity "protection" service (paid for by the bank, in the last three years, they've provided no useful service, afaict.) The number of attempts to use my wife's identity every few weeks is absurd. We get an alert every time there's a new occurrence of our identities appearing on the "dark web" (not that there's anything we can do about that or any further precaution to be taken.) I'm read it's possible buy hundreds of SSNs for a few cents each. Rarely does a week go by without an email from some major corporation (e.g. Apple) with a password reset request which I didn't start.

* The fourth is Innovis.

 

[snakeey11]

I'm still waiting on Parsons. Applied for the loan Tuesday around 11am, and got the email Wednesday evening from Rivian that my truck was ready for pickup. I've been pestering Parsons the past couple days and yesterday they basically said it's taking 4-5 days and I should expect them to reach out to me early next week. I'm still optimistically scheduled for picking it up tomorrow, but I assume I'll be rescheduling that later today.

Communication has been fine and everyone has been friendly and helpful, timing just sucks. Oh well, what's another few days in the grand scheme of things?

 

[Aroohoo]

'm still waiting on Parsons. Applied for the loan Tuesday around 11am, and got the email Wednesday evening from Rivian that my truck was ready for pickup. I've been pestering Parsons the past couple days and yesterday they basically said it's taking 4-5 days and I should expect them to reach out to me early next week. I'm still optimistically scheduled for picking it up tomorrow, but I assume I'll be rescheduling that later today.

I am also waiting on Parsons since Tuesday AM. It feels like they are trying to take it slow so that rates can increase next week before we officially apply for the auto loan. I applied for AdelFi last night and haven't heard back yet other than I know my credit has been checked by them.

I get the impression that they only have one loan officer and we are all hitting him at the same time.

Sent him an email this morning saying that I was trying to schedule delivery and would like to know when I could expect to be funded. He responded by saying that if I provide a signed purchase agreement and proof of insurance it could be today or tomorrow. I provided the PBA (since I don't have step 6 unlocked) and insurance card; hopefully that is enough to move on.

I am a bit worried in that we haven't even had a discussion on rates (especially given the talk of needing a checking account with them to get the lowest rate).

 

[itselectric]

I get the impression that they only have one loan officer and we are all hitting him at the same time.

Sent him an email this morning saying that I was trying to schedule delivery and would like to know when I could expect to be funded. He responded by saying that if I provide a signed purchase agreement and proof of insurance it could be today or tomorrow. I provided the PBA (since I don't have step 6 unlocked) and insurance card; hopefully that is enough to move on.

I am a bit worried in that we haven't even had a discussion on rates (especially given the talk of needing a checking account with them to get the lowest rate).

To clarify, they haven't opened my checking/savings account yet. I haven't applied for the loan. I don't believe they are purposely trying to make the process slow, but I don't think the process is great. This seems abnormally slow but I assume it's because everyone knows rates are going up and these CUs are being bombarded with applications.

 

[sevengroove]

I get the impression that they only have one loan officer and we are all hitting him at the same time.

Sent him an email this morning saying that I was trying to schedule delivery and would like to know when I could expect to be funded. He responded by saying that if I provide a signed purchase agreement and proof of insurance it could be today or tomorrow. I provided the PBA (since I don't have step 6 unlocked) and insurance card; hopefully that is enough to move on.

I am a bit worried in that we haven't even had a discussion on rates (especially given the talk of needing a checking account with them to get the lowest rate).

Have you received a pre-approval letter yet? That is the next step, and unfortunately it will still not include the rate although I have been verbally guaranteed I will get that lowest rate. Process is definitely not great. But I'm willing to suck it up if it ends up working out eventually for a good rate that I don't have to think about for 5 years.

 

[Timo]

To clarify, they haven't opened my checking/savings account yet. I haven't applied for the loan.

By comparison I already have my pre-approval letter, account is opened and I'm just waiting on my guide to give me the nod that the truck is ready. From there I'll kick off the funding from AdelFi and be good to go.

 

[itselectric]

By comparison I already have my pre-approval letter, account is opened and I'm just waiting on my guide to give me the nod that the truck is ready. From there I'll kick off the funding from AdelFi and be good to go.

Nice! Congrats. Do you know how the process works with AdelFi? Do they pay with ACH?

 

[Timo]

Nice! Congrats. Do you know how the process works with AdelFi? Do they pay with ACH?

Wire transfer or certified check.

 

[itselectric]

Approved with AdelFi! 2.9% at 72 months (only asked for $75k - slightly less cost minus taxes/fees).

Moving much more quickly. Already have account set up and they are waiting on me to tell them where to send money.

 

[Timo]

Grats! I've been impressed with them so far

 

[Ccomtois]

Have you received a pre-approval letter yet? That is the next step, and unfortunately it will still not include the rate although I have been verbally guaranteed I will get that lowest rate. Process is definitely not great. But I'm willing to suck it up if it ends up working out eventually for a good rate that I don't have to think about for 5 years.

I was finally able to get my loan funded w/ Parsons - and yes, it took a little bit of work but it happened. They are nice people, but don't seem overly motivated - probably does have a lot to do with the overload of loan requests as they are the best rate that I've seen. I locked in at 2.79%....and just ahead of the Fed rate hike. You may need to follow up a few times. Good luck!

 

[snakeey11]

I was finally able to get my loan funded w/ Parsons - and yes, it took a little bit of work but it happened.

How long did it end up taking? I've had to reschedule my delivery once, and I'm hoping not to do that again. Right now, I'm scheduled for next Wednesday, which will have been a full week since I applied for the loan.

 

[sevengroove]

How long did it end up taking? I've had to reschedule my delivery once, and I'm hoping not to do that again. Right now, I'm scheduled for next Wednesday, which will have been a full week since I applied for the loan.

It took me about 4 days to go from loan application to pre-approval letter in inbox. So I think you should be fine for next Wednesday.

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