Credit Unions with good rates that accept applicants anywhere within the US?

[Dwalk51]

Also applied with AdelFi. Applied at a few. Just a datapoint for current offered rates:
AdelFi: 2.6% 72 months
DCU: 3.25% 65 months
Tesla: ~4.5% 60 or 72 months
Nusenda: 3.5% 72 months

Going with Adelfi, membership was approved and docs provided, just need a loan officer to go through everything, hoping for Monday next week and then pickup Tuesday.

 

[cw78]

Does Adelfi hit all of the credit reporting agencies, or one specific? Thanks!

 

[WrldDriftR]

Does Adelfi hit all of the credit reporting agencies, or one specific? Thanks!

Thus far, I’ve only been alerted from Experian.

 

[1laker]

I saw some posts in another thread about Signal Financial Credit Union. Looks like their lowest rate available right now is 1.49% (but you need to have a $25K bank balance with them, plus qualify to join their credit union). Their normal rate right now is 2.49%

Is anyone a current member there? I'm from out of the area so I would need a referral to join.

Auto Loans from Signal Financial Federal Credit Union

Signal Financial finances new & used auto and motorcycle loans with terms up to 84 months. We can also refinance your existing loan to save you money or get extra cash.

www.signalfinancialfcu.org

 

[wiparker824]

I saw some posts in another thread about Signal Financial Credit Union. Looks like their lowest rate available right now is 1.49% (but you need to have a $25K bank balance with them, plus qualify to join their credit union). Their normal rate right now is 2.49%

Is anyone a current member there? I'm from out of the area so I would need a referral to join.

Auto Loans from Signal Financial Federal Credit Union

Signal Financial finances new & used auto and motorcycle loans with terms up to 84 months. We can also refinance your existing loan to save you money or get extra cash.

www.signalfinancialfcu.org

Seems like you need more than a referral to become a member… need to either live in DC area, or be a relative of an existing member unless I’m missing something.

 

[1laker]

Seems like you need more than a referral to become a member… need to either live in DC area, or be a relative of an existing member unless I’m missing something.

they dont define the qualifications to be considered a family member, soooo... use your imagination on that one.

 

[wiparker824]

they dont define the qualifications to be considered a family member, soooo... use your imagination on that one.

lol, good luck with that... a lot of credit unions ask for supporting documentation for membership eligibility, they may not, but a lot do.

 

[1laker]

lol, good luck with that... a lot of credit unions ask for supporting documentation for membership eligibility, they may not, but a lot do.

All they ask for is name and phone number, I'm assuming for confirmation with the person who is the current member. Either way the savings are fairly small, for me its a difference roughly $30 per month and 2% worth of interest over the life of the loan. So if its shot down, its not a big deal as their rates are still the lowest I've seen at numerous credit unions across the US.

 

[ScrappyCoco]

Just came across this credit union in Los Angeles. 1.9% upto 80% of the cars value.

Loan Rates | Japanese American Community Credit Union

www.jacomcu.org

 

[Whitehawk]

Just came across this credit union in Los Angeles. 1.9% upto 80% of the cars value.

Loan Rates | Japanese American Community Credit Union

www.jacomcu.org

Those rates are “too” good in this market so I can assure you there is a catch. I work in this business. You will note that they will loan you 80%of the value but the other 20% must be retained on deposit. Still a good deal but I suspect only 800+ credit scores will be approved at the best rates.

 

[wiparker824]

Those rates are “too” good in this market so I can assure you there is a catch. I work in this business. You will note that they will loan you 80%of the value but the other 20% must be retained on deposit. Still a good deal but I suspect only 800+ credit scores will be approved at the best rates.

There’s that but the catch is also also that it’s a very narrow FOM union… “Japanese Ancestral residing in Los Angeles, Orange, Riverside, and San Bernardino Counties;” is the primary way to gain membership.

Although it looks like you may be able to first get membership to The Japanese American Cultural & Community Center and then you become eligible to this CU?

 

[Happy Hippo]

Thus far, I’ve only been alerted from Experian.

Do you know how long the approval last 30, 60 or 90 days?

 

[WrldDriftR]

Do you know how long the approval last 30, 60 or 90 days?

60 days

 

[Jz77]

Also applied with AdelFi. Applied at a few. Just a datapoint for current offered rates:
AdelFi: 2.6% 72 months
DCU: 3.25% 65 months
Tesla: ~4.5% 60 or 72 months
Nusenda: 3.5% 72 months

Going with Adelfi, membership was approved and docs provided, just need a loan officer to go through everything, hoping for Monday next week and then pickup Tuesday.

Thanks @Dwalk51

9/16/2022

• AdelFi: 2.5% 60 mo (or 2.9% 72 mo)
• DCU: 3.99% 65 mo
• Tesla: 4.49%

I'm assuming the rates will go up next week?

 

[wiparker824]

Thanks @Dwalk51

9/16/2022

• AdelFi: 2.5% 60 mo (or 2.9% 72 mo)
• DCU: 3.99% 65 mo
• Tesla: 4.49%

I'm assuming the rates will go up next week?

Adelfi’s just went up… not that they can’t go up again but I got in a week ago when all their rates were 0.4% lower than they are now.

 

[highertech]

Thanks @Dwalk51

9/16/2022

• AdelFi: 2.5% 60 mo (or 2.9% 72 mo)
• DCU: 3.99% 65 mo
• Tesla: 4.49%

I'm assuming the rates will go up next week?

I have great credit and just got last week:
3.08 for my choice of 72 or 84 months with no down payment from adelfi and no payment for 3 months.

The only negative was they aren’t the quickest or easiest to reach. I did start as soon as I had delivery date so kind of dragged my feet. I got delivery date from Tesla of either Saturday 9/10 or Monday 9/12 on Tuesday 9/6 of the same week. Adelfi funded late 9/12 and I took delivery.

Not a bad turnaround but the whole time Tesla was threatening to cancel my order and put me back in the queue if not funded by Monday, even though I had an approved loan and pending wire transfer. I had until 4pm and it got funded at 3pm.

 

[Jz77]

I have great credit and just got last week:
3.08 for my choice of 72 or 84 months with no down payment from adelfi and no payment for 3 months.

The only negative was they aren’t the quickest or easiest to reach. I did start as soon as I had delivery date so kind of dragged my feet. I got delivery date from Tesla of either Saturday 9/10 or Monday 9/12 on Tuesday 9/6 of the same week. Adelfi funded late 9/12 and I took delivery.

Not a bad turnaround but the whole time Tesla was threatening to cancel my order and put me back in the queue if not funded by Monday, even though I had an approved loan and pending wire transfer. I had until 4pm and it got funded at 3pm.

Wow. That’s quite scary. I better get prepared! What ended up taking them so long to finalize, if i may ask? Was the underwriter slow to get back to you?

 

[highertech]

Wow. That’s quite scary. I better get prepared! What ended up taking them so long to finalize, if i may ask? Was the underwriter slow to get back to you?

It was not impossible to get someone on the phone but the underwriters told me they are dealing with 100s of Tesla apps all the time. I personally learned about them here. They only process wires at 2pm every day. My loan was still in funding stage Friday so that meant I had to wait until 2pm Monday. Tesla was not patient at all. They called me at 2:05 while I was waiting for a text reply from the underwriter and literally on hold with customer service and told me I’d lose it at 4. She said everyone that calls from Tesla is stressed.

In a normal circumstance I would’ve been fine but somehow went from Vin to delivery with 3 business days notice.

I’d do the following.
Have an account with them. I had a $25 savings.
Have your ID printed and ready to upload
Have your Social Security Card ready to upload
Have 2 paystubs ready to upload
Figure out Insurance and have it ready to upload.
Know where to find your Tesla purchase agreement for upload.

Best of luck. You should be fine. I would’ve been if I had more time.

 

[wiparker824]

Also went with AdelFi and it was somewhat slow for me as well but actually the biggest hold up was just getting the final MVPA from Tesla. Tesla was telling me my car was going to be here with delivery scheduling as early as 9/13 but didn’t give me the MVPA until 9/12… AdelFi told me they need 24 hours to release funds after getting the final signed sales contract. I scheduled delivery for 9/16 to give them enough time but AdelFi did do it 24 hours later as they said they would and the funds were wired in plenty of time. It helped that I already uploaded all the other documents they wanted, became a member, setup account, had pre-approval, etc and just had to get the MVPA as the final thing to release funds. I’d recommend doing that if you can. Their rate lock is for 60 days.

 

[Bluelocust]

I am currently using Adelfi for my loan. I am taking delivery on the 21st. So far, Adelfi has been really good to work with. Once I had a two week window, I started the process. As mentioned, their rates are guaranteed for 60 days. I was approved for a loan in hours and simply followed their outline. Their upload feature is easy to use and their messaging creates a nice reference for anyone one their employees to see where you are at in the process. I uploaded my documents (DL, Proof of Income, and Proof of insurance) and waited for my VIN. Once my VIN arrived, my SA switch my funding to a 3rd party loan with Adelfi listed as the lender. I sent them the MVPA and told them I would like to take delivery on the 22nd. That was the middle of the delivery dates provided by Tesla after the VIN was issued. Adelfi called and walked me through the terms and said they would be sending an email with a link to sign the loan documents. She said they would fund on Monday. I’ll verify with Tesla on Monday or Tuesday and pick up the M3 on Wednesday. Hopefully everything will go smoothly.

At this stage, I would recommend them. They have good customer service and fantastic rates. She did mention they are slammed with Tesla loans. I would get ahead of the process to the extent you can. It does require a little forecasting but after waiting as long as we all have, it’s a fairly straightforward process.