I got conditional approval on 2/14 so I am not entirely sure
Conditional approval pending membership acceptance?
yes, I just got my account number today
I uploaded my purchase agreement with Armco, and they were able to send me the doc for signing and wire the fund out on the same day, super fast.
Tips: pay the $20 for wiring, their check/mailing backed up too.
2 Likes
Were you previously approved as a member? What was the general timeline for your application for memebership, loan application and approval, and funding?
I applied for the loan on 02/10, approved on 02/17, my account was applied for on 02/13, got my account number today 02/22. I think this was before they got crazy overloaded though, have you applied yet?
I called Gold Coast last Friday and they were very helpful walking me through my questions. The rep said that they offer 2.99% for 60 months on a new car or anything 2022 or newer with fewer than 5k miles. There’s an additional 0.25% discount if it’s a brand new car and another 0.25% if you put 20% down, resulting in a possible 2.49% loan for 60 months on a new car.
It’s a straight 2.49% for 36 months on a new car and 3.24% for 60 months on a used car (unless it’s a 2022 with fewer than 5k miles). The 20% down payment discount still applies here so that would make it 2.99% for 60 months on a used car.
I applied for membership that day online using the $5 donation route. The rep said I’d hear back in a few days asking for a picture of my driver’s license and some follow up questions, then once I was a member, I could apply for the loan.
However, the next day, while my fiancée and I were looking at Mazda CX-50s for her, we found one she loved and just took the Mazda Financial 0.9% for 36 months and $500 APR rebate offer. For what it’s worth, I still haven’t heard back about my membership a week later, but for those who have some time, this is probably a great route to go. We’ll need another car in a few months so hopefully they still have competitive offers.
3 Likes
Thanks for sharing, I wonder how long until they get flooded, also nice username
1 Like
Yeah I was hoping to go all the way through the process and report back with a full timeline, but the Mazda offer was too tempting.
And thank you! 
1 Like
Has anyone applied for ‘AutoPay’ in last couple of days? It says ‘Rates as low as 2.99%’. Want to find out more before going through the whole application process if its bait-switch or genuine. TIA
I found following on some other forum;
‘After some research it seems AutoPay is just a site that searches for the best rates. They seem like a legit company but seems questionable if you can truly get 2.99.’
I just tried it for a fictional scenario (purchase a new 530i for $60,000) and this is what I got after they softed my credit report (perfect credit and virtually 0% DTI):
Changed the default down payment to > $20,000:
Google Voice ftw!
4 Likes
Got an email from Armco asking if it’s okay to charge me 20 bucks for BC3 and to upload my social security card. Agreed and scanned in my card but still no word. I’m going to give it another week before I try to call. They do say it could take three to four weeks for a response. I don’t need financing until about late summer anyways.
Also got two calls from Autopay today.
I picked them up out of morbid curiosity.
First call was from the 858 area code.
“This is ?? from Autopay. I just need a few pieces of information and I’ll be able to finalize your loan for you!”
He gave up easily when I said that I wasn’t satisfied with the rate they offered.
Four hours later… Another call, a woman this time.
“This is ?? from Autopay. I just need a few pieces of information and I’ll be able to finalize your loan for you!”
This was from an 844 number.
I repeated what I said to the last person who called.
“The rate was too high and someone else already called me today.”
She also gave up without any further conversation.
ARMCO is still allowing members. I wonder how much larger their membership grew? Just got approved.
1 Like
Also I am not currently a member, but I would have to go the non-affiliated route, how can I become a member and what is required from me to become a member.
I wanted to apply for the car loan at ARMCO, I do not mind waiting for response as long as I get locked into the rate they currently have. Is this possible for me to do?
Can anyone help. I have not been able to reach them. Just want to know the process
Apply online, don’t reach them - their phone calls and I am paraphrasing, say apply online since they are busy
Apply, and have them make a donation in your name to BCU3.
3 Likes