That would probably be violating the loan agreement, the loan is tied to the VIN. The CU will for sure find out, they get the title. Who knows what they would do, this one here is a CU with some odd processes, it seems ...
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Credit Unions with good rates that accept applicants anywhere within the US?
- Thread starter YNoVA
- Start date
The CU mailed the check to me, so I had it in my possession. When I told them I’d be getting a new VIN, they said I needed to send the check back and apply for a new loan.
Yeah I thought an addendum was an option, but I guess not. New VIN = new loan. Maybe it will change since the rep I spoke to at the CU said they were learning a lot about Tesla still.
I did that!
it’s been frustrating dealing with USSFCU. Applied for a membership 5/16. Declined due to unable to verify identity even though no one called or emailed. I was following up daily too.
After so many calls, a rep told me to apply again so i did on 5/26. i just uploaded more info including W2, pay stub, utility check, passport. Finally got approved this week 6/13!
I applied for a loan to refinance and got approved 6/15! I took delivery and used Tesla finance (chase auto loan) so i now refinanced for a lower rate at 4.24% with USSFCU
I may try the same thing. Even though I don’t have an EDD, the difference in Tesla finance and USSFC is about $20 per month and a lot less thought at car pickup.
Hi guys,
I am in the middle of returning my lease and purchasing the exact same car (newer) because I am not able to buy out my car. I was quoted 5.69% interest and they called just now asking that I quickly sign the paperwork on the app, but the interest rate is now 6.99%. Has this been happening to any of you? I am a homeowner and pay all of my debt off every month. I should have a very high tier credit score. I am putting $10k down on the car. What is going on? Has this happened to any of you?
Stock owner
Returning lease with tons of equity that I can't buy out
my dog is named Tesla, cat is Edison (They do not get along- I guess I didn't set them up for success.)
Thanks,
Heather
I am in the middle of returning my lease and purchasing the exact same car (newer) because I am not able to buy out my car. I was quoted 5.69% interest and they called just now asking that I quickly sign the paperwork on the app, but the interest rate is now 6.99%. Has this been happening to any of you? I am a homeowner and pay all of my debt off every month. I should have a very high tier credit score. I am putting $10k down on the car. What is going on? Has this happened to any of you?
Stock owner
Returning lease with tons of equity that I can't buy out
my dog is named Tesla, cat is Edison (They do not get along- I guess I didn't set them up for success.)
Thanks,
Heather
Milehighblue
Member
I used USSFCU for my new '23 MY. Their used car loans are just a tad higher in rates, but still a good rate.
Rates | Washington DC, Capitol Hill, Alexandria - Virginia
USSFCU Finanical Product Rates. Checking/Savings Acoounts, Loans, and Business Accounts.
www.ussfcu.org
I used USSFCU for my new '23 MY. Their used car loans are just a tad higher in rates, but still a good rate.
Rates | Washington DC, Capitol Hill, Alexandria - Virginia
USSFCU Finanical Product Rates. Checking/Savings Acoounts, Loans, and Business Accounts.
Thank you, friend! What rate did you end up getting for a used? And how does their funding work? Do they only send the check to the dealership? Or we can have a check that we can give to a private seller?
Thank you!
They sent my check directly to Tesla, but I've read they've given other people the option to have it directly mailed to them. Also, they told me they were Fedex overnighting my check to Tesla, but it didnt arrive until Monday since they sent it on Friday.
It looks like the lowest used rate is 4.99% for used right now. Overall USSFCU was the lowest rate I could find for new cars. I'm assuming their rates for used cars are the same. They do offer a 0.25% decrease for auto payment, but that is already factored into the 4.99%
If you're going to possibly go through USSFCU, I recommend going ahead and starting the membership process. It only took me a few days to get a membership, but others have said it can take weeks.
Mrdrbot23
Member
I also used USSFCU to buy my Tesla new. Their current new and used auto loan rates are published right on their website here: Rates | Washington DC, Capitol Hill, Alexandria - Virginia
For a new purchase, their default is to send the check directly to the dealership but I requested that they FedEx it to me so that I could bring it with me and hand it over when I picked up my car. They charge $30 for the overnight FedEx. You'd need to ask them to get a definite answer but I'd think they could do the same for a used car purchase.
The process to join is described on their website: Join USSFCU | Washington DC, Capitol Hill, Alexandria - Virginia
It took them about a week to process my application and I was careful to upload every single document they list as required with my application. It has taken longer for others here since it can depend on whether or not they've gotten a ton of applications to process at any given time.
I've been very happy with them so far. I got my loan approval in May when their rates were lower and got 3.49% for 48 months.
Milehighblue
Member
I bought new and got 4.99% before their rate increase earlier this month.
Yes, I asked my loan officer this and she said they would just need the payoff info from the bank. You'll still qualify for the new loan rate as long as you complete the refi within their time window. Best to double check with them, in case this has changed.
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