November Financing Rates Thread

[KCFGFE]

I am so glad I started this thread...I just secured 3.99% for $70k, 72mo (rate was the same for 60mo) with FedChoice yesterday (11/7).

Process-wise, all I had to do was open a savings account and make a donation to their non-profit arm. The process was smooth overall with no surprises. They do ask you to verify your SSN "security questions" by phone which was a bit less efficient for the consumer but that was really it. I was pre-approved in 1d.

@DJC: I did not see a minimum required.

Thank you so much to @Potato_Daddy for the pointer.

Since I had also applied with USSFCU, I am also a member of some sort of association in VA. Oh well.

Thanks to this forum, I went from 6.09% with PenFed which was my initial "best", all the way down to 3.99%. I'm done though, 3.99% is way better than I expected.

I see they're at 4.99% for auto loans at the moment. Are they still offering up to 1% lower for the first 90 days for new customers to reach 3.99%?

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[The_Frog]

I see they're at 4.99% for auto loans at the moment. Are they still offering up to 1% lower for the first 90 days for new customers to reach 3.99%?

I'm not sure what they're offering today, but the 3.99% we secured is for the duration of the loan, not an intro rate. If I recall correctly, their advertised "best rate" on the site was 4.24% the day we reached out to them to get more details.

I would just call them because the person we dealt with was extremely knowledgeable and applied discounts that were not messaged on the website. In fact, we were just hoping to lock 4.24% when we called them initially.

Timing-wise, our loan was funded last night, so it was just 2 days from application to funding.

 

[Mari76]

I see they're at 4.99% for auto loans at the moment. Are they still offering up to 1% lower for the first 90 days for new customers to reach 3.99%?

Yes, It's 1% off the first 3 months of the loan. We just had our loan funded yesterday and they offered us 4.74%/60mo or 4.89%/72mo which was the lowest from all our other pre-approvals we received. FedChoice was awesome, the process was quick and went super smoothly. Our first payment will be in Feb.

These are some of the other rates we were offered

EECU offered 5.79% for 60 and 72 months

PenFed offered 60 months, 7.24% APR
72 months, 7.59% APR

USAA offered 60 months 6.94%
72 months at 7.04%

 

[KCFGFE]

Yes, It's 1% off the first 3 months of the loan. We just had our loan funded yesterday and they offered us 4.74%/60mo or 4.89%/72mo which was the lowest from all our other pre-approvals we received. FedChoice was awesome, the process was quick and went super smoothly. Our first payment will be in Feb.

These are some of the other rates we were offered

EECU offered 5.79% for 60 and 72 months

PenFed offered 60 months, 7.24% APR
72 months, 7.59% APR

USAA offered 60 months 6.94%
72 months at 7.04%

Silly me. I've been thinking it was a 1% discount throughout the life of the loan if I applied during first 90 days of membership. Thank you for the detailed rate info!

 

[Mari76]

Silly me. I've been thinking it was a 1% discount throughout the life of the loan if I applied during first 90 days of membership. Thank you for the detailed rate info!

You’re welcome!
I wish it was for the life of the loan! That would be great. The rate they offered us was a little lower than what was advertised on the website too.

Also, we applied for membership and they did a hard pull with trans union. We applied for the loan after membership was approved so they used the same hard pull, so that was good.
Now we wait to finally pickup our R1S on Tuesday in El Segundo.

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