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Thanks. I just went and reapplied says approved but pending.

How long until I a get my membership number so I can apply for a loan?

Santander lends to anybody :face_with_peeking_eye:, rates are pretty fair too honestly.

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Glad that my finding was useful

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Do you know if i were to refi a car the same month i got it, would it count as a used car? Or a new car? I’m trying to get a loan from fed choice but had no option but to take a dealer finance(wasn’t a marked up rate though)

While the 100 inquiries did not drop my credit score, they were noticed by the dealership humans who subtly implied that I could not get away with stealing the car because Sirius Guardian could track it anywhere.

It depends on CU or Bank, so you need to ask them.

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For me it was 1 business day. You should receive a secured message alert with that info.

Any suggestions for Credit Unions where you don’t have to jump through a ton of hoops to get an application? Already have a few just from experience, but like NFCU for example doesn’t have great rates. Would like 84-96.

Wow great, were they advertising that rate?

Approved with Fedchoice For 72 months at 1.99% - you do have to open an account with them and fund it with $5. Last 2 pay stubs required with dealer contract to fund.


That’s not really how we do it.


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Ditto - Applied this am got text with instant approval and called for rate, that’s what they were seeing but still pending the underwriter contacting me.

Sorry Michael Caine GIF

Looking for CU who are still doing balloon loans.
Can we do a balloon loan when we doing initial financing or its consider as Refinance of an existing lease loan .

I’m almost positive it has to be new only because the full sales tax is due

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it should be all same to traditional loan, other than you have a balloon payment at the end.

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I am sure i can refinance an existing lease like I am buying the car with whatever buyout price plus the state tax on the total buyout price.

But if I am doing a new lease using the dealers finance house and numbers are not coming good i might just use a ballon loan from a CU. Then i dont have to pay ACQ fees.

I have Penfed but I think they stop doing the balloon loans.

Let’s ask @z0lt3c

Can you refinance/buyout a lease using a balloon loan?

Yes. I am doing this right now with AmeriCu and a Jeep Wrangler. I like this approach because you are not rushed to complete third party financing before pickup from the delivery dealer.

However, most credit unions consider this a “used” transaction, as the vehicle has already been titled, and in most cases has more miles then with which it was delivered. In the case of AmeriCu, this means a .25% rate increase. I think it’s pretty trivial but YMMV.

Also will point out AmeriCu is offering a special for any loans closed by 8/31, no payments for 90 days.


So your 4xe is at the dealership, you decided to not use CCAP for lease but bring your own Finance house AmeriCu for a balloon loan for whatever 60,72 months term. Do you have to pay ACQ fees ?
Does dealership was OK with this agreement or try to push you back to use CCAP.

Is AmeriCu the only CU doing balloon loans or there are others too.

Edit: oh I misread it you already in possession of the jeep.