That makes sense. Interesting knowing the difference between lease, balloon, and conventional. This forum is educational to say the least.
Does anyone have the CUID for CapEd and AmeriCU or know what their interest rate is? I canāt find it on their website. I have Hanscomās at 4.49%
Do these CU loans / balloon rates lock for 30-60 days like traditional financing? Looking to lock it in within the next week if so.
I wonder if their rate locks. Would give some flexibility with trying to find a gd telluride lol
Iām shopping rates for financing a Sportage PHEV which comes in 2 weeks. My credits around 785 so I should qualify for one credit Union at 2.25% over 84 months. Does a balloon payment make more sense though? I plan to keep for 1-2 years and Iām guessing (hoping) Iāll have equity in it. I donāt want to put a down payment. Iām creating a separate account for my cx-9 Carbon $4,600 equity. Thanks
I think this is a good question and Iām interested in other opinions as well. Does this CU not require a down payment for their 84 month loan? Many of the credit unions Iāve looked into required as much as a 10 or 20% down payment. Can you share which one has that rate? Thanks.
does anybody has some information on Ford maverick 2023 non hybrid ?
For ballon financing .
Did you end up using AmeriCU? How painful/less was their process? Would you use them again?
The Credit Union does not have a āmandatoryā down payment for the 84 month term. However, the maximum i can finance is 100% loan to value or 100% of the MVPA or MSRP.
Mehā¦ That means they wonāt cover the 2k markup for the Sportage PHEV.
What is the difference between a pay saver loan and a balloon?
Yes the rate locks.
AFG allows you to finance the MSRP plus taxes, fees and registration, so greater then 100%. Individual policy of the offering credit unions may vary.
It has been hit or miss with AmeriCU. I would suggest leaving 2 weeks time to close a loan with them as communication frequency varies from agent to agent. When you find a good agent, apply through your agent do not apply through the internet. Ultimately I have decided that refinancing into an AmeriCU balloon loan is much easier then trying to use them with an originating dealer.
Usually, nothing. Pay saver or Payment Saver are all balloon loan offerings backed by AFG.
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Wow CapEd said Iām #72 in the Queā¦ Thats like calling the IRS and praying for a live rep.
Do all the payment saver loans or balloon programs all go through AFG? Like none are different?
Itās just weird to me how certain things have better āratesā than others, but nothing really makes a lot of sense to me. Teslaās are holding their value, in fact gaining value, but they donāt do well on these. Yet, a Ford Bronco does - similarly holding its value?
Just curious. Perhaps Iām missing something in all of this.
Pretty much any non-captive option is usually backed by AFG.
AFG only updates MRM once a year, so when Tesla does multiple MSRP increase, the MRM does not change and gap with residual value gets wider and wider. With a vehicle that has frequent MSRP increases, really a balloon loan only works if you have an order at the original or year-start MSRP.
In the case of a Bronco, the market value is much higher then the MRM which shrinks the residual value to a value less then it should actual be.
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That makes a lot of sense. Iāve been going through various cars trying to find one that fits. I may just stick to a regular loan. Iām unsure.
Here is a BMW i4 M Sport at $523/mo with TTL out of pocket when applying the rebate as a down payment and purchase at MSRP.
Here is a MB EQS 450 at $1156/mo with TTL out of pocket when applying the rebate as a down payment and purchase at MSRP.
I suspect both of these will be superior program when compared with captive lease offers.
Here is another approach, this is a program I am using myself. A Tesla MX Plaid (no MSRP changes here) with TTL plus $50K down, no rebates. 24 month rate is $523/mo.
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How do you put the rebate as a down payment?
Or are you just doing that upfront and grabbing the cost at the back end during tax season?
You can sometimes capture the rebate by immediately buying out a lease. For example, MB passes the rebate on as a cap cost reduction in a lease. If you lease the EQS then immediately purchase it, your buyout will be $7500 less then purchasing it up front (simplified). FWIW this is what 4xe flippers are doingā¦
Are there any programs for 4xe Jeep rubicons ?
Interesting to see the difference compare to CCAP lease
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So if AFG doesnāt have programs available for a new car (2023 Palisade) how would we get a balloon loan on that car? Iām assuming we just canāt?