That's good to know, thanks, congrats on 3.99 rate that's amazing! Did anyone find something lower than 5% that FedChoice is basically offering at this time?
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Credit Unions with good rates that accept applicants anywhere within the US?
- Thread starter YNoVA
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amoney805
Member
Does any credit union charge a prepayment penalty these days?
amoney805
Member
Ive never delt with any bank that does, but somebody asked me and I couldn't find the answer.
I dont have any proof of this, but I have seen a few different threads about "Great rate on Teslas here!" gain enough traction that not too long after that, the financial institution gets swamped and changes rates. Said in plainer terms, activity here on this website has driven so much business / contact to some institutions they get overwhelmed and change rates on autoloans.
I was one of the guys that locked in the 3.99% rate. My loan officer told me while I was going through the process that they were getting a ton of requests for them at that time. A lot of lurkers in here apparently.
amoney805
Member
Running into a hiccup with FedChoice. I asked for 100% financing since ill be selling my car after I get the FUSC transferred, but they're saying I need Gap insurance since the LTV is 118%. I cant get a hold of anybody there since they're on the east coast and close by the time i get off of work. How much is Gap? And why is the LTV greater than 100? Im trying to figure this out before Friday, but their so unresponsive in their messaging system.
Gap with Fedchoice is $449. You can add it to the loan or pay it out right.
amoney805
Member
Another question about FedChoice. I finally got my loan finalized and my account says "check disbursed". Do they mean they wired the money to tesla, or are they mailing me a check? Im scheduled to pick up my car tomorrow at 11:30, and its a two hr drive for me.
I'm trying to read back on this thread and saw some rates posted for fed choice around 5%, but their website shows much higher rates higher than what Tesla is offering. Auto Loan Rates | FedChoice Federal Credit Union Is this just a recent increase?
This thread raises auto loan interest rates faster than the Fed rate hikes.
Since you're in California, you may want to check out local options - we discuss these from time to time in the California sub-forum.
amoney805
Member
EECU is offering 4.89% on auto loans which is the same I got from FedChoice since I missed the 3.99 by a day.
www.myeecu.org
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Educational Employees Credit Union (EECU) is based in Fresno, California. Experience Smarter Banking with EECU. We serve the Central Valley with branches in Fresno, Clovis, Hanford, Madera, Merced, Reedley, Sanger, Selma, Tulare and Visalia.
www.myeecu.org
Where are you seeing that rate? EECU -EECU is offering 4.89% on auto loans which is the same I got from FedChoice since I missed the 3.99 by a day.
home
Educational Employees Credit Union (EECU) is based in Fresno, California. Experience Smarter Banking with EECU. We serve the Central Valley with branches in Fresno, Clovis, Hanford, Madera, Merced, Reedley, Sanger, Selma, Tulare and Visalia.
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