November Financing Rates Thread

[The_Frog]

Let me know if there is an existing thread and I will delete this one.

My numbers (60mo, 800+ credit score):

Rivian: 7.79%
PenFed (the best I could find): 6.09%

PenFed process is very smooth.

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[shrink]

I have a loan on my R1S purchase (7/2023) with the United States Federal Credit Union at 4.74 for 60 months.

Looks like rates are in the same range there:

https://www.ussfcu.org/resources/rates/rates.html#new-auto-loans

 

[Mobius1]

I have a loan on my R1S purchase (7/2023) with the United States Federal Credit Union at 4.74 for 60 months.

Looks like rates are in the same range there:

https://www.ussfcu.org/resources/rates/rates.html#new-auto-loans

Do you have to be a federal employee?

 

[shrink]

Do you have to be a federal employee?

No. I just joined the US Capitol Historical Society for a small fee.

https://capitolhistory.org/

https://capitolhistory.org/support/individual-membership/

 

[Mobius1]

No. I just joined the US Capitol Historical Society for a small fee.

https://capitolhistory.org/

https://capitolhistory.org/support/individual-membership/

Nice, will check it out. Thanks!!

 

[edman007]

I did a 36 mo with navy federal, 4.54%

 

[ath2001]

Another Credit union to look at is the Library of Congress FCU ( https://www.lcfcu.org/home/home). I got some good rates last month ( 4.34 for 60 months) for both my R1S and Model Y.

 

[The_Frog]

@shrink

Thanks for the pointer to USSFCU...I am going through the process as we speak and it looks like I will get 5.24% for 60mo. I have PenFed lined up as a back-up, so let's see what happens.

I'm now a proud member of the American Consumer Council of Virginia in order to be eligible:

https://www.ussfcu.org/segs.html?cId=14779&title=american-consumer-council-virginia-chapter-vacc

There is a one-time $15 fee to join but you get a coupon code from USSFCU that waves that fee. Ah, the crazy world of credit unions.

Thanks again.

 

[Potato_Daddy]

I was able to get %3.99 through FedChoice credit union. I thought about applying to LCFCU as well but with that rate I figured I’d just take it.

Financing around 60k @60 months

 

[BrentInCO]

I was able to get %3.99 through FedChoice credit union. I thought about applying to LCFCU as well but with that rate I figured I’d just take it.

Financing around 60k @60 months

Thanks for sharing. Looks like they've raised rates since you locked in. https://www.fedchoice.org/rates/?RateId=54

Looks like anyone can join, based on option 3 (?) https://www.fedchoice.org/join/membership-eligibility/

 

[DJC]

Does anyone know if there's a minimum donation amount to be eligible to join FedChoice? 4.6% is great!

 

[The_Frog]

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.

 

[DJC]

Awesome, cheers! I just spoke to them about the process - seems like the best they can offer as of 11/9 is 4.74% (so you snuck in before they went up!)

That is still the best I've found, unless anyone else has anything better on the go? Cheers

 

[The_Frog]

@DJC: Not bad at all.

Did they give you the discount for being a new member of the CU? This is one that we were not aware of/expecting.

 

[DJC]

Yeah, that rate is inclusive of the new member discount.

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