Excellent thanks!!
Is there any recommendations on places to refinance auto loans?
What do you suggest? IFCU is locking 3.50% for 84 months and no payments for 90 days until 12/27. Then they need to close the loan and Iād have to re-apply. My vehicle is delayed again in transit to 1/2. It first was 11/28 so itās weekly getting delayed. Should I get the loan on the 27th and keep the check at my house until the vehicle comes and then send it to the dealer? Iām only building interest. Or is this risky to do this not knowing when itās coming in besides these false estimates.
The dealer will give you an out the door price before the video even arrives?
They gave me a purchase agreement with taxes and fees already. South Carolina is a flat $500 tax and property tax. I had to request it.
I hope this is this case for you but that was not what I experienced.
I received a conditional approval within 24 hours, then the long drawn out process started.
They told me I had to become a member of the tower cares foundation in order for them to consider me for approval. I had to apply first before applying for the loan. It was $15 so they may have changed their policy.
I specifically asked this because my my dti and alll other factors are good. They donāt even verify any of your personal income information. The credit score is the one and only factor. I didnāt know you could have a credit score above 850 until @trism let me know. Again, maybe they changed their criteria.
This is where I was sucked in. It was explained by a very competent person and lulled me into a false sense of security.
I hope you have better luck than me and if you find your loan officer unresponsive at the start, buckle in for the long haul.
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Rates for a late-model used vehicle can differ from rates on new vehicles.
You can still start shopping from the list in the thread, but note that there is no standard definition for ālate model used vehicle,ā so you have to make sure whatever rate youāre eyeing applies to your situation.
Also, some CUs will l offer a nominal incentive on a refi.
I noticed a $200 offer from PenFed this morning (this offer happens to apply to both refinances and purchases):
https://www.penfed.org/auto/rates
Of course, make sure you are considering the total cost of financing. Makes no sense taking a $200 bonus upfront, only to spend an extra $700 in interest over the term.
Iād run the numbers but pretty sure taking on the loan early for even a month will still get you ahead then paying the current rates.
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Does anyone know if a dealer would normally allow the customer to take delivery of the car before they get a check from the credit union? My 2023 992 cab is here and the credit union approved the loan but sending a check tomorrow and it will prob take 2-3 days to arrive. I am putting down 40% of the car. Just wanted to know if I need to wait a few painful days
They canāt overnight it?
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No they cant
A dealer recently let me take my car home on a Friday and we didnāt do paperwork until Monday so itās possible. They threw dealer plates on the car. I didnāt sign anything.
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A tracking number and picture of the check is usually enough for most dealers but YMMV.
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do a 3 way call with the credit union and the dealer. that should be enough for them.
They wonāt.
Big difference.
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Iām closing on my loan today with IFCU. Including the rate discount for putting $500 a month into a new account (my payments over anyways), itās 3.3% at 84 months and first payment is 3/28. Hopefully the car comes asap. Iām taking a gamble on it being delayed in transit (they said 1/2 now) but this is the last day they can hold that rate.
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Why not speak to a loan officer and ask if they can hold the rate for just a little longer explaining how the car is delayed in transit?
They did from 12/22 until today. Thatās all they can do.
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Hoping to close my loan with IFCU by 12/30. Havenāt been able to reach my loan officer today. Completed the membership process on 12/22