Let's talk financing rates

[voip-ninja]

noticed several CUs increase interest rates this week. the delivery delay is costing me more

That’s why I locked in two weeks ago. I have 2 more weeks to complete the loan process at the rate I got and another 30 days after that to fund. Rates probably going up till Q4.

 

[Big-T]

Hey guys, I'm in Seattle which seems to disqualify me for many of the uber great credit union rates I'm seeing here. Spent the afternoon looking online locally at many of our small credit untions and the best I see is about 3.5% (with many places up to 4.5%) for 72 months. I feel like I must be missing something obvious here as so many folks are pulling 1.5-2.75%

 

[ProphetM]

Hey guys, I'm in Seattle which seems to disqualify me for many of the uber great credit union rates I'm seeing here. Spent the afternoon looking online locally at many of our small credit untions and the best I see is about 3.5% (with many places up to 4.5%) for 72 months. I feel like I must be missing something obvious here as so many folks are pulling 1.5-2.75%

Try Allegacy Credit Union - allegacy.org
That's the best one I could find that I could get into. They are based in Winston-Salem NC but they allow you to join by donating to one of several local organizations. You include the donation with your opening savings deposit. Their best rate for 72 months (or 75) is 2.74% with automatic draft or payroll deduction.
All the credit unions local to me in Las Vegas were also much higher than that. I basically compiled a list of credit unions from everyone's comments in this thread, wrote down their published rates from their web sites, and then went down the list of the lowest rates until I got to one that I would be able to join.

Allegacy's loan approval is good for 60 days.

 

[Big-T]

Thank you I will give that a try, I was just going over the numbers and it looks like I should go ahead and get my order in now then. My reservation came up a few months ago but I was really hoping for a SR version - looks like I won't be able to get that and take advantage of the full $7,500 tax rebate, so LR here I come!

Perhaps this is a question for another thread, but do you guys know what the current turnaround time is for LR orders? Is the 60 day approval enough time?

 

[rdlink]

I was able to get Lightstream to do a rate-beat today from a scan of a Preapproval letter from a credit union. The letter included the exact amount that will be paid out, the number of months and rate, and the name and signature of the loan officer at the credit union. Lightstream also warned me that the loan amount must match exactly to what Lightstream had approved, if that was different they would not have considered to process the rate beat. They beat the rate by 0.1% and approved funding. I signed electronically and will get the money through wire transfer tomorrow (unsecured loan). Hope this helps somebody. Also Lightstream is really easy to contact via phone and they are totally helpful.

If Lightstream had required full loan documentation to beat (instead of simple preapproval letter) then I likely would have just moved forward with the secured loan at the credit union.

Hi. How did you contact Lightstream by phone? I can't seem to find a phone number for them. I have unsecured pre approval, but I wanted to speak to someone about bumping my loan up $2K, and I don't want to screw anything up.

 

[debuggr]

I was able to get Lightstream to do a rate-beat today from a scan of a Preapproval letter from a credit union. The letter included the exact amount that will be paid out, the number of months and rate, and the name and signature of the loan officer at the credit union. Lightstream also warned me that the loan amount must match exactly to what Lightstream had approved, if that was different they would not have considered to process the rate beat. They beat the rate by 0.1% and approved funding. I signed electronically and will get the money through wire transfer tomorrow (unsecured loan). Hope this helps somebody. Also Lightstream is really easy to contact via phone and they are totally helpful.

If Lightstream had required full loan documentation to beat (instead of simple preapproval letter) then I likely would have just moved forward with the secured loan at the credit union.

Hi. How did you contact Lightstream by phone? I can't seem to find a phone number for them. I have unsecured pre approval, but I wanted to speak to someone about bumping my loan up $2K, and I don't want to screw anything up.

I would also like to contact them by phone. I have a pre-approval letter from a CU and have emailed LightStream twice about Rate Beat, but have gotten a response like this both times:

Please note the document sent in for our rate beat program is listed as a pre-approval and does not meet the requirements for our program. If you would like to re-submit an Official Approval letter we can re-review at that time.

 

[SoCalGuy]

I would also like to contact them by phone. I have a pre-approval letter from a CU and have emailed LightStream twice about Rate Beat, but have gotten a response like this both times:

Their phone number has been posted about 5 times in this thread. Search is your friend.

 

[debuggr]

Their phone number has been posted about 5 times in this thread. Search is your friend.

Thanks for your helpful reply — a tried-and-true, classic response which makes this and every other Internet forum so fun to participate in.

What search query would you suggest that would turn up the phone number for LightStream? I tried "lightstream phone number," which doesn't yield any useful direct results, and clicking through the subsequent pages of responses after the search hits does not yield a phone number. If it's easy enough for you to find, could you kindly provide a link or just the phone number itself?

 

[C141medic]

Just got approved for a 1.99 rate for 84 months here. Great rates, that can’t be beat in my opinion (Local NJ credit union)

ABCO FCU: Serving Southern & Central New Jersey with Fair Banking and Loan Services for over 50 Years

 

[a.void]

That’s why I locked in two weeks ago. I have 2 more weeks to complete the loan process at the rate I got and another 30 days after that to fund. Rates probably going up till Q4.

Pulled the trigger today with allegacy. Got my app in and I'll take my time on the process to get the 60 days to the max. Starting to look closer to November for delivery. Might be able to play lightstream for another 30 days if needed

 

[SoCalGuy]

Thanks for your helpful reply — a tried-and-true, classic response which makes this and every other Internet forum so fun to participate in.

What search query would you suggest that would turn up the phone number for LightStream? I tried "lightstream phone number," which doesn't yield any useful direct results, and clicking through the subsequent pages of responses after the search hits does not yield a phone number. If it's easy enough for you to find, could you kindly provide a link or just the phone number itself?

And thanks for your sacrcastic and snarky reply - I'm sure that's a well proven strategy to get someone to help you out.

In any event, I'm reminded of the "give a man a fish, he eats for a day. teach a man to fish he eats for life" lesson.

Also, if you searched for "Lightstream phone" you'd have found the number within the first two pages of forum search results.

 

[rlb4]

Just got approved for a 1.99 rate for 84 months here. Great rates, that can’t be beat in my opinion (Local NJ credit union)

ABCO FCU: Serving Southern & Central New Jersey with Fair Banking and Loan Services for over 50 Years

Nice. Too bad the eligibility options are in South Jersey. Any way around that? I'm in northern NJ.

 

[C141medic]

Nice. Too bad the eligibility options are in South Jersey. Any way around that? I'm in northern NJ.

ABCO FCU: Who Can Join? The list is fairly extensive. I live within their area; however, you can also claim membership in one of the societies on their list. One of them is the Westampton historical society that I believe anyone may join with a donation. There may be others.

 

[rlb4]

ABCO FCU: Who Can Join? The list is fairly extensive. I live within their area; however, you can also claim membership in one of the societies on their list. One of them is the Westampton historical society that I believe anyone may join with a donation. There may be others.

ABCO FCU: Who Can Join? The list is fairly extensive. I live within their area; however, you can also claim membership in one of the societies on their list. One of them is the Westampton historical society that I believe anyone may join with a donation. There may be others.

Thanks. I didn't see anything about the societies. Did ABCO ask for your VIN before approving you? How long is the approval good for?

 

[rdlink]

Thanks for your helpful reply — a tried-and-true, classic response which makes this and every other Internet forum so fun to participate in.

What search query would you suggest that would turn up the phone number for LightStream? I tried "lightstream phone number," which doesn't yield any useful direct results, and clicking through the subsequent pages of responses after the search hits does not yield a phone number. If it's easy enough for you to find, could you kindly provide a link or just the phone number itself?

And thanks for your sacrcastic and snarky reply - I'm sure that's a well proven strategy to get someone to help you out.

In any event, I'm reminded of the "give a man a fish, he eats for a day. teach a man to fish he eats for life" lesson.

Also, if you searched for "Lightstream phone" you'd have found the number within the first two pages of forum search results.

Here's the number:
Lightstream: 866.635.1330

Remarkably so much easier to type that than being a complete a**, trying to prove a point.

 

[C141medic]

Thanks. I didn't see anything about the societies. Did ABCO ask for your VIN before approving you? How long is the approval good for?

Look at the alphabetical listing. I was provisionally approved and once I provided the MVPA it was finalized. I believe it’s a 30 day countdown from the time I sign the loan documents.

 

[voip-ninja]

ABCO FCU: Who Can Join? The list is fairly extensive. I live within their area; however, you can also claim membership in one of the societies on their list. One of them is the Westampton historical society that I believe anyone may join with a donation. There may be others.

Still not open to the general public, even via charitable donation.

Access to these lower rates for the general public are drying up.

National average new car loan rate for 60 months is 4.8%. I expect 5% soon but guess we’ll see.

 

[rlb4]

Still not open to the general public, even via charitable donation.

Access to these lower rates for the general public are drying up.

National average new car loan rate for 60 months is 4.8%. I expect 5% soon but guess we’ll see.

So are you saying that you can't join the CU by becoming a member of the historical society? Why not?

 

[rlb4]

Look at the alphabetical listing. I was provisionally approved and once I provided the MVPA it was finalized. I believe it’s a 30 day countdown from the time I sign the loan documents.

How long is the provisional approval good for? I'm not sure when I'll be getting my car. Estimate is Sept to Nov.

 

[SoCalGuy]

Here's the number:
Lightstream: 866.635.1330

Remarkably so much easier to type that than being a complete a**, trying to prove a point.

Ad hominem, nice

And congrats on learning how to use the Search function! (You're welcome )