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Don't settle; give your local financing instution a chance.

AdamsFan1983

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Lots of people getting contacting for deliveries. Just a friendly bit of encouragment to shop around and GIVE YOUR LOCAL CREDIT UNION A SHOT. Today I was extended a loan for 72 mo. @ 1.84%. That my friends, is a DEAL right now.
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kanundrum

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Lots of people getting contacting for deliveries. Just a friendly bit of encouragment to shop around and GIVE YOUR LOCAL CREDIT UNION A SHOT. Today I was extended a loan for 72 mo. @ 1.84%. That my friends, is a DEAL right now.

So I was debating that but my main concern is with Rivian Financing if there is any snag I'd assume it's a lot easier to deal with them like paying and then delays on the delivery etc. Maybe I'm wrong?

Either way my thought was to go through Rivian First and then refinance with my local CU.

Mind plugging yours to give them some business?
 

Inkedsphynx

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Totally do, but also do the math on the difference between 1.84% and 2.5% or whatever else. In the end, it's really not that much money. I'm still debating if I go through multiple offers or just go with Chase via Rivian and re-fi later if I want. I'm assuming going through Chase via Rivian would speed the process up and simplify things for me a bit.
 
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AdamsFan1983

AdamsFan1983

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So I was debating that but my main concern is with Rivian Financing if there is any snag I'd assume it's a lot easier to deal with them like paying and then delays on the delivery etc. Maybe I'm wrong?

Either way my thought was to go through Rivian First and then refinance with my local CU.

Mind plugging yours to give them some business?
You'll get better rates if its completely new. My CU confirmed with me several times that its was BRAND NEW to get that rate. Mine also required you to be an account holder, but new members qualify. If youre in central PA, PM me and I'll refer you.
 

Dark-Fx

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Chase's rates for Rivian Financial are not competitive at all. They are probably banking on people not shopping around. I opted to go with Rivian Financial, but paid the vehicle off after the loan hit my credit report.
 

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godfodder0901

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Totally do, but also do the math on the difference between 1.84% and 2.5% or whatever else. In the end, it's really not that much money. I'm still debating if I go through multiple offers or just go with Chase via Rivian and re-fi later if I want. I'm assuming going through Chase via Rivian would speed the process up and simplify things for me a bit.
This is exactly what and why I did this. Seamless and quick for me. No delay, or BS fumbling with transfers, photos, mail, etc...
 

DJG

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Totally do, but also do the math on the difference between 1.84% and 2.5% or whatever else. In the end, it's really not that much money. I'm still debating if I go through multiple offers or just go with Chase via Rivian and re-fi later if I want. I'm assuming going through Chase via Rivian would speed the process up and simplify things for me a bit.
I think Rivian/Chase is at least 3% if not approaching 4%, aren't they? That's thousands of dollars difference.
 

CommodoreAmiga

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I think Rivian/Chase is at least 3% if not approaching 4%, aren't they? That's thousands of dollars difference.
Higher.

Payment estimator is showing:
48 months: 4.31%
60 months: 4.36%
72 months: 4.45%
84 months: 5.04%

OUCH
 

Jagger027

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You'll get better rates if its completely new. My CU confirmed with me several times that its was BRAND NEW to get that rate. Mine also required you to be an account holder, but new members qualify. If youre in central PA, PM me and I'll refer you.
Pardon my ignorance with CU but do you need to be a local to get loans from them or can out of state folks also be eligible?
 
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AdamsFan1983

AdamsFan1983

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Pardon my ignorance with CU but do you need to be a local to get loans from them or can out of state folks also be eligible?
most require you to open an account, and have some elligibility requirements yea. I admit there's an element of serenditpity in me getting this.
 

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Dirty_B

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This is exactly what and why I did this. Seamless and quick for me. No delay, or BS fumbling with transfers, photos, mail, etc...
My Credit Union will pay me to get a loan with Chase, and then re-fi the Chase loan with them! While it's only $200, I get the benefit of no hassle loan with Rivian/Chase, and then a month later I refinance with my CU and it's no hassle plus cash back. Not sure which way I'll go to include just paying cash. But it's an a consideration.
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Killer95Stang

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1.84 % great. Right now I was given offer of 1.99%/ 72 months from my Credit Union and they typically give you an extra .25% if you auto draft your payment every month. They also consider a car "new" if it is the same model year as the current year.

In the past, when purchasing a car from Ford for example, I would get offered 0% financing or $1500 -$2500 cash back for financing with Ford. I would always take the cash and get some terrible rate even though my credit was over 800. Based on how slimy the financing mananger was, I would either wait a few weeks to refinance or get done a few days later.
 

Rousie13

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I just looked and even PenFed is over 3% after the rate hike. I was looking around and our local credit union's online rates are bad compared to what others are referencing. I guess I don't have to worry right now though since I don't even have a guide. :crying:
 

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I just looked and even PenFed is over 3% after the rate hike. I was looking around and our local credit union's online rates are bad compared to what others are referencing. I guess I don't have to worry right now though since I don't even have a guide. :crying:
Yeah, this might be regional. Our CU's rates seem bad compared to everyone else's here, I'm looking at 3.49% for a 72-month loan. Best I can get is 2.74% for 51-months. I checked a couple others in my area, and they seem to be in a similar ballpark.

The higher rate adds at most about $1500 to the interest, compared to a 1.99% loan over 60-some months, so it seems like it's not really worth dealing with a whole other institution and moving money around. Oh, and I found out we'll get back about $500 in cash, which cuts the difference down quite a bit.

Plus, in theory, paying our own CU means we're sort of paying interest to ourselves.
 

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Yeah, this might be regional. Our CU's rates seem bad compared to everyone else's here, I'm looking at 3.49% for a 72-month loan. Best I can get is 2.74% for 51-months. I checked a couple others in my area, and they seem to be in a similar ballpark.

The higher rate adds at most about $1500 to the interest, compared to a 1.99% loan over 60-some months, so it seems like it's not really worth dealing with a whole other institution and moving money around. Oh, and I found out we'll get back about $500 in cash, which cuts the difference down quite a bit.

Plus, in theory, paying our own CU means we're sort of paying interest to ourselves.
Try UFCU based out of Austin. Basically their membership requirements are having any affiliation with any university or college, or if all else fails, just wanting to be a member is good enough for them...2.2% up to 66 months.
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