R1T Financing/Insurance Options???

[Sesaunders01]

What’s everyone’s experience with both insurance and financing options when taking delivery? I’ve just confirmed delivery for my R1T performance dual motor max pack in the next few weeks and currently shopping both loan and auto policy options to see who’s offering the best rates and pricing.

PS I will be happy to post the numbers once the truck is here!!

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[Electrified Outdoors]

USSFCU has had the best rates on Financing for a while. Too bad your not near MD... Would love to do some max pack testing!

Insurance depends.... We have been with Geico. We were with state farm for 10 years before that and they kept raising our rates.... by a lot.... so we switched

 

[milliemc]

Google the issue. I did and came across some discussion re. companies on Redditt.. In general prices seemed to run abut 600per 6 months.

 

[R.I.P.]

USAA for insurance, not a cheap vehicle to insure. 50% more to insure than my most expensive Tesla, I'm not sure why.

USAA financed my first R1T @ 2.9%, but rates are so high now that I elected to buy my 2nd one outright.

 

[Destreyf]

I personally went with United States Senate Federal Credit Union (USSFCU), but another option is Library of Congress Federal Credit Union (LCFCU)

You can see their rates online here:
USSFCU: https://www.ussfcu.org/resources/rates/rates.html#new-auto-loans
LCFCU: https://www.lcfcu.org/home/fiFiles/static/documents/rates.pdf#page=2

Both have membership requirements, not sure what the process is for LCFCU but USSFCU is easy enough if you sign up to be a member of the American Consumers Council, they give you a promo code (USSFCU) to get a free membership, then you will be emailed a membership pdf that you can upload during your membership application.

 

[Destreyf]

For insurance there's way too many factors to make a reliable recommendation, for example Progressive costs me $903 per 6 months, but AllState quoted me $2300 for 6 months, they couldn't explain why they were so much more.

I have zero tickets and zero accidents on my driving record, and have had a single glass claim in the last 10 years of driving.

 

[Electrified Outdoors]

USAA for insurance, not a cheap vehicle to insure. 50% more to insure than my most expensive Tesla, I'm not sure why.

USAA financed my first R1T @ 2.9%, but rates are so high now that I elected to buy my 2nd one outright.

My experience was the opposite for insurance. USAA much higher. Tesla Model Y P was $450 more per year to insure with Geico (which had the lowest rates for us) then my 2023 R1T Quad. Im paying less than $800 a year for 100/300/300 coverage. Though i do have home insurance, RV, and two other autos insured with them as well.

Geico was good yesrs ago for my trail rated Jeeps... But i switched away to State Farm after they dramatically increased rates several times. Was with State farm for a number of years and then they did the same thing.

Insurance depends on many factors so what works for one doesn't work for all. Best advice i can give on insurance is to shop around thoroughly. Also shop around anytime you have a significant increase in your policy premiums for no apparent reason.

USAA still has competitive financing rates (not 2.9% of course)... but USSFCU has best rates. We have been with USSFCU for years... I worked a short time at the SAA about 22 years ago. They finance a lot if Rivians.

 

[Tr4ckD4ys]

lol… I wish I could ever get those insurance rates… In the NYC area the cheapest I could secure was 200/month with standard coverage (ie 100/300k with 1k deductible). That is despite clean record and credit score!

When I lived in Chicago I could get 140/month for 250/500.

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