Loan rates?

[Jayhawkeye]

Has anyone refinanced yet? I barfed when I signed up with rivian for 6.5 over 60 months, paid 40k and still owe 1k a month lol.

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[Oldsmobile_Mike]

Saw that 6.5% at Rivian earlier this week. 5.5% at USAA. My credit union was at 5.05%, but they didn't even know what a Rivian was and had no way of selecting it in their system; I wasn't going to fight that fight with them.

 

[Chewy734]

I thankfully managed to get 2.99% for 60 months at Tower FCU right before they increased the rates.

How about trying for a personal line of credit at First Republic at 3.95%? I believe you need to keep 20% of the credit line in your checking account there, and direct deposit set up. You can also opt to pay just the interest on the loan during the first 2 years, and then the balance gets locked for an additional 5 years. It gives you a lot of flexibility at a pretty good rate.

 

[BrentInCO]

I thankfully managed to get 2.99% for 60 months at Tower FCU right before they increased the rates.

How about trying for a personal line of credit at First Republic at 3.95%? I believe you need to keep 20% of the credit line in your checking account there, and direct deposit set up. You can also opt to pay just the interest on the loan during the first 2 years, and then the balance gets locked for an additional 5 years. It gives you a lot of flexibility at a pretty good rate.

First Republic Bank has been in the news recently, and not in a good way.

Looks like rates are 6.95%-8.45% (before any adjustment since the Federal Reserve raised rates 0.25% today). https://www.firstrepublic.com/personal-line-of-credit

 

[Siva]

I got 4% from Parsons FCU last week. Here is how it went. Sharing so it might help those that are considering Parsons.

• Fri 3/10 - I got purchase process start email. I wasn't expecting it so soon as my delivery window was May-June, so I wasn't prepared and had to start everything from scratch.
• Sat 3/11 - Submitted Parsons membership application
• Mon 3/13 - Submitted loan application after membership is active. Maybe I didn't need to wait for membership to be active.
• Thu 3/16 - Finance check mailed to Rivian
• Sat 3/18 - Picked up R1S

It would have been faster if I spent time to understood the Rivian and Bank processes better. I was also busy with work and couldn't focus on deciding Trade-in, insurance and financing.

My experience with Parsons was very good.

 

[freshpow]

I got 4% from Parsons FCU last week. Here is how it went. Sharing so it might help those that are considering Parsons.

• Fri 3/10 - I got purchase process start email. I wasn't expecting it so soon as my delivery window was May-June, so I wasn't prepared and had to start everything from scratch.
• Sat 3/11 - Submitted Parsons membership application
• Mon 3/13 - Submitted loan application after membership is active. Maybe I didn't need to wait for membership to be active.
• Thu 3/16 - Finance check mailed to Rivian
• Sat 3/18 - Picked up R1S

It would have been faster if I spent time to understood the Rivian and Bank processes better. I was also busy with work and couldn't focus on deciding Trade-in, insurance and financing.

My experience with Parsons was very good.

Would be helpful to post your loan term as well. Based on the rates currently published on their site, looks like 4% is for 48 months and 60 months would be 4.75%. I'm still going through the process with Adelfi but was able to get approved for 4.55% for 60 months earlier this week. They have not been very fast to respond though

 

[canikony]

I got 4% from Parsons FCU last week. Here is how it went. Sharing so it might help those that are considering Parsons.

• Fri 3/10 - I got purchase process start email. I wasn't expecting it so soon as my delivery window was May-June, so I wasn't prepared and had to start everything from scratch.
• Sat 3/11 - Submitted Parsons membership application
• Mon 3/13 - Submitted loan application after membership is active. Maybe I didn't need to wait for membership to be active.
• Thu 3/16 - Finance check mailed to Rivian
• Sat 3/18 - Picked up R1S

It would have been faster if I spent time to understood the Rivian and Bank processes better. I was also busy with work and couldn't focus on deciding Trade-in, insurance and financing.

My experience with Parsons was very good.

I dont even see rivian listed in their makes... how did you get passed that part?

 

[Belem]

I dont even see rivian listed in their makes... how did you get passed that part?

I also used Parsons for my loan and they just asked for the VIN (I guess I should say that I had my VIN at that point).

 

[Siva]

I dont even see rivian listed in their makes... how did you get passed that part?

I don't recall exactly but I think I picked "Other" choice.

 

[TXR1S]

Anybody seeing anything remotely good lately? Best I have seen is USSFCU.

 

[freshpow]

Anybody seeing anything remotely good lately? Best I have seen is USSFCU.

If their published rates are accurate, take it and run! I took delivery a few weeks ago and the lowest I could find, after a lot of searching online and locally, was 4.55% (60 months) with Adelfi. That was good enough for me to find God again . USSFCU shows 3.74% for the same term...my savings account earns more than that currently.

 

[COdogman]

Anybody seeing anything remotely good lately? Best I have seen is USSFCU.

That is lower than anything else I’m seeing by a decent amount.

 

[Jay]

Anybody seeing anything remotely good lately? Best I have seen is USSFCU.

Any membership requirements like you have to be citizen?

 

[TXR1S]

Any membership requirements like you have to be citizen?

I believe you do but not sure.

 

[Killer95Stang]

4.24 60 months and 4.74 72 months with my credit union. Requires direct deposit to get then extra .25 percent

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