0.74% Auto Loan (36 Months) from Unify Financial

[ab26]

Hi Guys,

For those in California, do consider Unify Financial Credit Union, if planning to finance. I just look at loan from them and the process was very smooth. 0.74% for 36 months seems like no-brainer. I am not sure why this is not being publicized compared to other popular loans (such as Alliant, etc).

PM me if you need a referral (both of us gets a bonus )

 

[wattsup]

Did the final .74% rate include some or all of the various rate discounts they offer (up to .25%)?

The discounts are:

* .05% if Premier or eChecking Account is maintained during term of the loan
* .05% if loan payment is automatically transferred from a UNIFY Savings or Checking Account for entire term of the loan
* .15% for a recurring Direct Deposit of $400 or more per month to a UNIFY Savings or Checking Account during the term of the loan

 

[wattsup]

I'm also impressed that they offer an "Airplane Loan".

 

[wattsup]

Btw, if you want a term longer than 48 months, then you have to maintain a balance:

* $10,000 for 60 months
* $15,000 for 72 months
* $25,000 for 84 months

 

[ab26]

Did the final .74% rate include some or all of the various rate discounts they offer (up to .25%)?

The discounts are:

* .05% if Premier or eChecking Account is maintained during term of the loan
* .05% if loan payment is automatically transferred from a UNIFY Savings or Checking Account for entire term of the loan
* .15% for a recurring Direct Deposit of $400 or more per month to a UNIFY Savings or Checking Account during the term of the loan

Yes. The rate includes all those discounts.

 

[Jrogville]

I gave them a call. You don't have to be in California, but that rate is only for 3 years. If you go up to 72 months, then it's not as attractive. 2.24% without the discounts. I'm seeing 1.74% without the discount restrictions.

 

[wattsup]

These guys will also finance the sales tax and other extras:

"100% financing on new vehicles is based on 100% of MSRP, or purchase price, whichever is less, plus sales tax, license and extended warranty."

 

[Zaxxon]

I used them this summer when we got our <insert non-Tesla vehicle name here>. Our process was also smooth. If you don't need a long term, they're a no-brainer IMO.

 

[wattsup]

So I called Unify...

1.99% is the best Unify rate for terms longer than 35 months (and includes discounts for membership, direct deposit, etc.). Also, they would not finance more than $155,000 without a co-sign (at all, or just in my case, I'm not sure... but I have ample liquidity to cover the loan right now and exceptional credit, so I'm not sure why the caution). At any rate (no pun intended), that effectively only covers the purchase price in my case, and will not cover any taxes and fees, which was my main reason to look into Unify (for true "100% financing").

Since I'm only pursuing a loan as a financial maneuver (so I can invest the money elsewhere) this all kinda disqualifies any interest in Unify for me. They are no better (in fact, worse) than TechCU (where I'm already a member). TechCU will loan basically the same amount at 1.49% for up to 60 months. They won't finance taxes and fees on any Tesla (though they will on other cars). Despite that limitation, the TechCU offer is starting to seem hard to beat.

 

[AutoBought123]

I tried to get in touch with Tesla about auto loans through their website and after I found out I had to email them, they emailed me the next day with an offer of 1.49% for 60 or 72 months on a pre-ordered vehicle and an estimated delivery date of just about a month later. That's a really good interest rate!