Just saw this, but I did not have this issue. I added my financing in the app, choosing Fedchoice, and everything has gone smoothly.
-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
Credit Unions with good rates that accept applicants anywhere within the US?
- Thread starter YNoVA
- Start date
Ahh okay, 2.74 is still pretty good compared to what I’ve been seeing. Good luck!
One key piece of information that had me in a panic, FedChoice’s approval is good for 60 days. At the time I thought the 1% discount was only good for 30 days, so I applied for my loan around 29 days after becoming a member. Then I applied for financing about 4 weeks prior to receiving my VIN and just hoped for the best. It worked out, locked in my rate and car delivery is next week.
rx_for_assyria
Member
They do 100% if you want. I chose to pay for tax and fees as down.
Yep 2.74 @ 72m definitely beats AdelFi, Nusenda and Tower.
However they are very slow in their web messaging. I have to call them to get any traction on my inquiries.
I do not see the discount on the website, how did you find that out? curious is that still exists.
Here ya go, check this link.
New member loan discount - take 1% off during your first 90 days
So I got a hold of them. FedChoice said minimum $5 donation to Tangerine Foundation (for membership). Also currently offering 2.74%, 0 down, up to 72 months. Applying now.
Hi Folks, NOOB here. Thankful for this site and thread. I ordered yesterday a MY and delivery was stated to be Dec to Apr. This morning, I woke up to find the app updated to reflect a new date of 11/8 to 11/22! Approved for financing w/ Tesla but I hate their rate at 4.74% Opened account with FedChoice and waiting on that to approve. Understanding the 1% rate reduction for new members (within 90 days), when should I apply for the auto loan? Do delivery dates commonly get pushed out? Btw, no VIN yet of course.
SilverString
Member
I had good luck with Tech CU - Technology Credit Union in San Jose. Tesla recommended them and they were very easy to work with. Not sure what their current rates are as I have since moved the loan to a Texas CU, but they were very competitive. Only fee was a $25 minimum deposit.
rx_for_assyria
Member
5 dollars. But they never even asked me when I got approved for membership.
You do the car loan app first which automatically submits a deferred membership app until you get approved for the loan.
Some insight regarding Adelfi, I applied about 60 days ago. I was able to lock in a 2.2% rate for 60 months. I used Adelfi rate to have a different CU match the rate. I purchased 2 cars so I was able to get 2 different rate locks. I’m in sales so I was able to use my skills to make this happen. Other CU do not offer a rate match.
rx_for_assyria
Member
I still see this for FedChoice:
| Model Year | Loan Amount | Term | APR* as low as** |
|---|---|---|---|
| New | $5,000 min | up to 60 mos. | 3.24% |
How are you guys getting the 2.74% rate? i guess i can call them
This is what i found on the website:I still see this for FedChoice:
Model Year Loan Amount Term APR* as low as** New $5,000 min up to 60 mos. 3.24%
How are you guys getting the 2.74% rate? i guess i can call them
- New member loan discount - take 1% off during your first 90 days6
From <Thrive | FedChoice Federal Credit Union>
6 Application and disbursal for Signature and/or Auto Loans must be made within the first 90 days of membership. Some members may only receive a partial discount on an auto loan in accordance with FedChoice Federal Credit Union's rate floor policy. All credit is subject to approval. FedChoice normal underwriting requirements apply. This discount may not be combined with any other offers. Please speak with a Financial Service Advisor for full terms and conditions in relation to this offer. Not everyone will qualify for the lowest loan rates. Final rate will be determined by creditworthiness of the applicant.
I did give them a call and the lowest is 2.74%. loan approvals are only for 60 days. Currently they are busy so a approval/denial would be provided within 3 business days.
FYI - I set up an account with FedChoice online. Super easy. They donated on my behalf. You do need to open a savings account with a minimum of $5. In doing so, through the Thrive program, they also credit you an additional $25 to that savings account. Process to create an account through set up was 1 day but beware, a hard inquiry occurs. Not sure if they use this same inquiry for the loan so buyer beware. Loan app also asks if you're a new member within 90 days so that the 1% discount can be applied to the loan.
rx_for_assyria
Member
As long as you are not an existing member, when you apply for a car loan and get approved, you get an automatic additional 1% off their rates, but their floor rate is 2.74%. I never mentioned any programs, when I applied and when I was approved, I got the 2.74% rate x 72m.I still see this for FedChoice:
Model Year Loan Amount Term APR* as low as** New $5,000 min up to 60 mos. 3.24%
How are you guys getting the 2.74% rate? i guess i can call them
The way to do it is to apply for the Car Loan first and that automatically defers a membership application, that way if you do get approved for an auto loan, you automatically get an regular membership. If you dont get approved, no reason to get a membership with them.
Similar threads
- Article
