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

[Fragger]

Hi guys,

Little off topic, but can you guys share banks, lenders, CUs you guys are using these days to finance your used Teslas? Who is offering the best rates?

Previously, PenFed CU was the king... Is that still the case? Appreciate your inputs. Thanks.

 

[Macb00kemdanno]

Hi guys,

Little off topic, but can you guys share banks, lenders, CUs you guys are using these days to finance your used Teslas? Who is offering the best rates?

Previously, PenFed CU was the king... Is that still the case? Appreciate your inputs. Thanks.

Off topic? Financing is what this whole thread is about

Grab a cup of coffee and read the past five or six pages ️

 

[jjrandorin]

Off topic? Financing is what this whole thread is about

Grab a cup of coffee and read the past five or six pages ️

The person you quoted posted that post in the off topic subforum. I moved it here, because the question is basically answered several times in this thread, so its not their fault it looks a bit out of place asking that question in this giant thread talking about basically what they asked about.

 

[rrr_land]

Hi,

Finally got my VIN assigned, Austin build, O/D - Jan 18, 2023! Now, I have to submit the notarized documentation to Tower. The form is straightforward other than a couple of things, account number on security agreement dated on! See the attached screenshot. Can anyone help who has already gone through this?

 

[Fragger]

Does Armco refinance a current loan at a bad rate?

 

[onvacayfaraway]

Hi,

Finally got my VIN assigned, Austin build, O/D - Jan 18, 2023! Now, I have to submit the notarized documentation to Tower. The form is straightforward other than a couple of things, account number on security agreement dated on! See the attached screenshot. Can anyone help who has already gone through this?

Blank and notarized date

 

[jimmerjohn123]

Does Armco refinance a current loan at a bad rate?

yes they refinance.

 

[rrr_land]

Blank and notarized date

Thanks, I have established account with Tower already. Does it need to state the member number or straightaway blank?

 

[Fragger]

yes they refinance.

Thank you. This helps, get financing for the car we want. Then refinance to a better rate. Appreciate your info.

 

[Yeah]

Thank you. This helps, get financing for the car we want. Then refinance to a better rate. Appreciate your info.

The promo ends soon and they are pretty backed up so I wouldn't completley bank on locking the rate in

 

[Fragger]

Thanks for the heads up. I thought it was their standard rate.

 

[Fragger]

So is the consensus for best rate right now is Armco? Or are there others you guys going with for used Teslas?

Also, about Armco, since they're backed up for 3 to 4 weeks, anyone know if they'll honor the rate as long as we apply before 2/28?

 

[onvacayfaraway]

Thanks, I have established account with Tower already. Does it need to state the member number or straightaway blank?

Per the Tower loan officer: “just leave it blank, or you can fill in your member number if you want”

I left it blank.

 

[jimmerjohn123]

So is the consensus for best rate right now is Armco? Or are there others you guys going with for used Teslas?

Also, about Armco, since they're backed up for 3 to 4 weeks, anyone know if they'll honor the rate as long as we apply before 2/28?

In terms of credit unions that pretty much accept anyone - yes. But there are some local credit unions, with tighter eligibility rules, out there that have even lower rates. Use https://www.datatrac.net/ to see if there are any around you with better rates.

Typically if you apply and get approved, your approval and rate is good for 30 days. On their website, it also mentions that they can withdraw this promotion at any time so 2/28 isn't a guarantee either. What's your EDD?

 

[vishnumrao]

Armco probably hates me now. I posted Armco here and now everybody is applying for Armco. Sharing is caring though.

Maybe my paranoia or maybe I am just being cautious.

Can someone confirm the armco referenced here is this: Auto Loan Special - Armco Credit Union

The armco link I posted above redirects to loanspq.com when applying. Any thoughts?

 

[Fragger]

In terms of credit unions that pretty much accept anyone - yes. But there are some local credit unions, with tighter eligibility rules, out there that have even lower rates. Use https://www.datatrac.net/ to see if there are any around you with better rates.

Typically if you apply and get approved, your approval and rate is good for 30 days. On their website, it also mentions that they can withdraw this promotion at any time so 2/28 isn't a guarantee either. What's your EDD?

Thank you for the helpful link. Indeed, I see some CUs locally with the comparable rates as Armco. I know their promo can end whenever they want, but, since they're processing in 3 - 4 weeks, I assumed that meant that if the application was submitted before then, the rate will hold... Otherwise, the promo is already dead by technicality, no?

I don't have an EDD, in that, I'm looking for pre-owned cars. Sometimes at dealerships.

Thank you again.

 

[E46M3]

Did tower recently raise interest rates? It's ridiculously high now.

 

[craaaazzy]

Maybe my paranoia or maybe I am just being cautious.

Can someone confirm the armco referenced here is this: Auto Loan Special - Armco Credit Union

The armco link I posted above redirects to loanspq.com when applying. Any thoughts?

Yep, that’s where I started my loan application process.

And someone was asking about insurance requirements…Armco did not require a specific deductible.

 

[hmmwv]

Yep, that’s where I started my loan application process.

And someone was asking about insurance requirements…Armco did not require a specific deductible.

Did you become a member by opening a checking account? I see it's recommended to become member of the BC3 Alumni Association by paying 20 bucks, but on the BC3 website it says to become member check Armco website. I don't see anywhere that you can pay the BC3 membership fee to become eligible.

 

[insaneoctane]

Did tower recently raise interest rates? It's ridiculously high now.

It looks that way