Loan rates?

[GrandEnigma]

No affiliation, but when I was hunting around I came across University of Illinois Credit Union that has no payments for 3mo (so you can continue hunting for options), and a rate of 5.45% for 75mo (where those 3mo end up). That being said, I would not advise having a car payment that ever exceeds the warranty of the vehicle its being used for.

https://www.uoficreditunion.org/loans/auto-loans/

When I inquired on membership, absent having attended the UofI or being on faculty, all you need is to become an alum donor for the small signup fee of $150 (I mean donation)

Obviously individual credit scores impact this.

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[MidnightRivian]

I hope everyone can take advantage of the low rates with USSFCU.

Fed just hiked rates another quarter point.

Once your loan funds and you’ve made your first payment. As a thanks to the community who shared the savings / USSFCU tips.

Please pay it forward by donating $20 to your local food bank.

Thanks in advance

Enjoy the low rates the your new Rivian R1S / R1T Electric BEAST!

 

[Sgt Beavis]

Navy Federal CU is at 5.04% for 72 months. But you pretty much have to be Jesus and super rich to get that. I have credit scores in the 800s but could only get 5.44%

 

[Donald Stanfield]

competition may be ramping up as Ford captive is offering 1.9% on the Lightning. Ford also seems to be optimistic the Count is going to buy more than one vehicle:

I got one of those in the mail from Chase for Maserati for a similar amount the other day. Something tells me using the credit there could very well be for one vehicle.

 

[Count Orlok]

I got one of those in the mail from Chase for Maserati for a similar amount the other day. Something tells me using the credit there could very well be for one vehicle.

chase sent me the same for maserati. I've never been interested in one but I guess the marketing department at chase has decided for me.

 

[Donald Stanfield]

chase sent me the same for maserati. I've never been interested in one but I guess the marketing department at chase has decided for me.

Same.

 

[BullWink181]

Folks still experiencing delays with USSFCU?

Got membership finalized within 48 hours. Submitted loan application 8/10. Called today, 8/14, and they said another 1-3 business days. I asked if there was anything else I could do to move it along, and they said no. When I called, I navigated to the general member services line. There was a separate option for loan products. Maybe I should try to talk directly to someone in lending/underwriting?

Trying to pick up the vehicle this Friday, so trying to get loan funded by Wednesday. I could always push delivery out a bit, but my guide and the service center are really pushing to make this happen quickly. And with my upcoming work schedule, this Friday would be best.

 

[MidnightRivian]

Folks still experiencing delays with USSFCU?

Got membership finalized within 48 hours. Submitted loan application 8/10. Called today, 8/14, and they said another 1-3 business days. I asked if there was anything else I could do to move it along, and they said no. When I called, I navigated to the general member services line. There was a separate option for loan products. Maybe I should try to talk directly to someone in lending/underwriting?

Trying to pick up the vehicle this Friday, so trying to get loan funded by Wednesday. I could always push delivery out a bit, but my guide and the service center are really pushing to make this happen quickly. And with my upcoming work schedule, this Friday would be best.

Speak directly to the lending department

 

[fr4c]

Folks still experiencing delays with USSFCU?

Got membership finalized within 48 hours. Submitted loan application 8/10. Called today, 8/14, and they said another 1-3 business days. I asked if there was anything else I could do to move it along, and they said no. When I called, I navigated to the general member services line. There was a separate option for loan products. Maybe I should try to talk directly to someone in lending/underwriting?

Trying to pick up the vehicle this Friday, so trying to get loan funded by Wednesday. I could always push delivery out a bit, but my guide and the service center are really pushing to make this happen quickly. And with my upcoming work schedule, this Friday would be best.

Submitted mine on a Friday (8/4), and loan was approved the following Tuesday (8/8), much faster than I anticipated. When I spoke with the lending department they said to expect about a week due to increased applications.

 

[alextakesphotos]

Yeah mine took FOREVER! It got annoying when they kept saying it was almost done. Probably about 10 business days before it was finally funded.

 

[iansriv]

Mine took about 2 days. You might wat to call them. They seem very nice ppl.

 

[stillwaiting999]

For those of you in CA, EECU is offering 4.89% for loan terms up to 72 months till the end of the month.

 

[BassBassSeabass]

For those of you in CA, EECU is offering 4.89% for loan terms up to 72 months till the end of the month.

All I see is 6.39%/36 months

 

[JeanRalphio91]

Question for those that have dealt with USSFCU:


USSFCU is telling me they need the 19-20 page purchasing agreement to approve the loan (I sent purchase summary but wasnt viewed as sufficient). Rivian Guide is telling me they need to see USSFCU loan approval in order to send purchasing agreement (which i need for loan approval).

Has anybody else faced this situation? And if so, what documents were you able to obtain to solve this conundrum?

Edit: after about 5 back and forths, with nobody from either side suggesting a pre-approval letter to break the stale-mate, I suggested as a way to clear up the jam on Rivian end. Am hopeful that clears the log jam.

Edit 2: log jam cleared. everyone's happy

 

[HouTexOwner]

What kind of "great" you getting now? How low and where? Thanks for helping out the community!

I stumbled upon a great deal if you happen to live or work in downtown Houston or in certain nearby zip codes through Harris County Federal Credit Union. Last month the rates were as low as 3.79% for 36 months, 3.97% for longer periods. Approval was quick and easy as long as they know that Rivian is taking care of the title and you don't need to close until the vehicle is in Houston. They told me they will not do loans for Tesla because Tesla makes you purchase before delivery and requires the purchaser to handle title. This month their rates are up a little starting at 3.99%. Still a great deal.

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