Did you see this CU that @djrabbi posted earlier?
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Use my referral code and get $50! lol
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Yes anybody can join PenFed. I joined a year or so ago just in case I needed TrueCar incentives.
To answer my own question, hereās what to do if you have an ordered car coming:
-Get pre-approval (usually this is good for 30 days)
-Look up a similar vehicle or any vehicle on the car buying service website and see if the dealer participates in the program (it wonāt say the dealerās name but itāll say the location and you can check the VIN against the dealerās website to make sure). For example say you have an ordered GLS coming, just look up a random GLE in inventory.
-Initiate contact through the random vehicle and then in discussing tell them you actually want financing for your ordered vehicle through the buying service.
-PenFed cuts you a check made out to the dealer which takes 2-3 days to process and ship.
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I did, denied without a credit pull even. Iām on a work visa so Iām assuming that might have been the reason. Been through this with couple other credit unions too. Even though my credit file is 10+ years long. Waiting for āreason for denialā mail to show up from LangleyFCU to confirm the exact reason.
Yeah they wonāt approve you if you are on VISA. Most banks wonāt unless you have a good history with the bank itself.
Iāve had the opposite experience with almost any bank, including CUs except a few handful. BofA for example, who I have the loan with currently, no history or open accounts/credit with them whatsoever. Approved me for six figures at tier 1 rates no problem.
A post was merged into an existing topic: Off-Topic Landfill 6
Would this work for a car I have on order right now? I checked and Penfed/true car does show the dealership as a āconnected dealerā.
Iām assuming thatās what youāre saying but wanted to confirm.
Yes would work! Usually refi is higher rate than ānew carā buy. Sometimes banks will let you refi with ānew carā rates if you refi within first 30 days and show original purchase order. I did this with PenFed few years ago
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Any idea why every time I look at pricing through the car finder it shows a 5k new registration fee? Iāve never seen a fee like that before. It almost negates the benefit of using the car finder service lol
Edit Looks like itās including dealer option packages in this value lol
Yes I was told to initiate a deal on a random car in that dealers inventory then switch over to the ordered car.
Rategenius showing 4.67% for 36, or 4.99% for longer terms on refi. Didnāt want to go through the application right now to verify that they will actually give those rates for 750+ score.
Thatās BS. It was showing me same but when I did app, came back between 6-10%
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CEFCU (Citizens Equity First) Rave:
Had a smooth experience with CEFCU, theyāre rates are super competitive. Opted in for 60 months @ 4.49%
- Applied online, same day was asked for payment stub as proof of employment
- Next day I was contacted by their team, they informed that I was approved and shared my monthly. I noticed the monthly was on the high side and they said they bundled in GAP and something else. Asked them to remove it.
- The dealer I was purchasing from was in network so I didnāt have to do any additional work.
- Informed dealer Iām financing with CEFCU. Sales rep tried telling me the 4.49% rate can be conditional, blah blah. I think he was trying to plant the seed the rate would be higher so they can make some money. Showed him my pre-approval letter, went into finance and was given the 4.49% rate.
- It took a few weeks to hear from CEFCU with welcome letter and details for the loan. I actually called them and they said they hadnāt received the contract. Called dealer, they said it was funded. A week later I received letters from CEFCU re:my loan
I also applied at BCU, like a dummy I didnāt read the fine print that in order to get their advertised rate, Iād have to meet two of the three qualification requirements. Too much work to get the same rate as CEFCU.
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Hi all! Has anyone been able to beat 4.99 at 84 month?
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Weāre are you seeing that? What bank? Just curious.
Hey! I have been googling all zip codes in the US and trying to find places that donāt have membership restrictions and the lowest rate for 84 months. All terms are 4.99 Unify financial. I called them. No max MSRP. I can join through the friends of the state park. I havenāt applied yet, car just finished production but I plan to apply soon.
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Got you. Fine print on their website states:
These rates reflect a .25% discount for New/Used/Classic Vehicle, Motorcycle, ATV/Power Sports, Boat, and Recreational Vehicle Loans. Available rate discount of .25% for automatic payments from a UNIFY share account. Maximum rate discount is .25% and may not be combined with any other rate discount offers. See Consumer Loan Rate Discount Acknowledgement for complete details.