Lowest interest rates in September?

[EVTrukHog]

This is a depressing thread my credit score is over 800 and I went with the rivian / Chase finance 5.3% for 72 I think it was.

Many offer refinance packages... may be worth looking into.

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[sevengroove]

This is a depressing thread my credit score is over 800 and I went with the rivian / Chase finance 5.3% for 72 I think it was.

To add to the refi convo, I remember reading that certain credit unions consider cars under 1 year old as "new" wrt qualifying for new auto loan rates. So yea, if I were you I would definitely refinance because rates are going to get worse before they get better.

Edit re credit score: 800+ is of course excellent but a score lower than that might not automatically preclude you from the best rates. When I spoke with Parsons I asked if I would qualify for their lowest rate with a score in the upper 700s and they said yes. Many banks use something between 720 & 750 as the cutoff for their best rates.

 

[EVnewb]

Most banks can’t compete with credit unions when it comes to rates. Always shop auto/home/boat loans with atleast 3 different financial institutions. The internet makes this part extremely easy and rate shopping is free. Times have also changed when it comes to shopping for the best rate because pulling your credit multiple times for the same loan type in a short time span wont hurt your credit score like it used to decades ago. Sometimes a good long relationship and history with a bank or credit union can make all the difference. The hard part about credit unions is they can be exclusive when it comes to joining. Best thing to do is call and ask if there are any exceptions or other ways you might qualify for membership.

 

[tiltedandsaltyaf]

Never done anything through a credit union before. Is it easy enough to switch the loan over to one at this point in the process? Does any one have a suggestion on the best CU?

yeah, think small bank, local branches/regional. Honestly, after I've starting working with my local ones, I find their programs significantly more consumer/member friendly than the big banks. Their apps and website portals are not as pretty/modern/clean but the general policies, rates and fees are better.

 

[jessefive]

I'm curious about this too. I've got applications in to 2 local CUs here in SE PA. Not sure of rates yet, but the rivian/chase rates are hiiiigh

 

[tiltedandsaltyaf]

I'm curious about this too. I've got applications in to 2 local CUs here in SE PA. Not sure of rates yet, but the rivian/chase rates are hiiiigh

depending on your credit of course but if you have great credit just go to their website's published lowest rate and that's what you'll generally get.

 

[Wowme22]

Chicago area - Dupage CU - 3.04%

 

[iansriv]

Small CU, there are eligibility requirements. If you're local to YORK, PA. PM me.

Cousin, is that you?

 

[TXR1S]

I got 2.6% / 72 months from AdelFi a week ago. I think they’re up a bit since then but still below 3%.

 

[Aag12]

I got 2.6% / 72 months from AdelFi a week ago. I think they’re up a bit since then but still below 3%.

https://www.adelfibanking.com/personal/loans-credit-card/auto-loans

2.5%. At 60mo. What a crazy rate!

 

[kanundrum]

saving this for later, first going thru Rivian Finance (Chase) then when I have title and tags etc ill re-finance so nothing is in limbo.

 

[SeaGeo]

@sevengroove I already did the hard work for you by making SoundCU figure out how to finance a Rivian. Still below 3%.
https://www.soundcu.com/rates/personal-rates/#autoloans

 

[sevengroove]

@sevengroove I already did the hard work for you by making SoundCU figure out how to finance a Rivian. Still below 3%.
https://www.soundcu.com/rates/personal-rates/#autoloans

Nice! It looks like their 2.99% rate applies up to a 36 month term though, and it’s 3.69% for a 60 month term. Unless there’s room to finagle with them?

 

[jessefive]

For those of you taking delivery this month (or potentially next), what are the lowest interest rates you are finding? I'm expecting my R1S anytime in the next 2 - 4 weeks, and would like to lock down a rate this month because next month will most definitely be worse.

The best I could find was Parsons Federal Credit Union. Free to join, and their EV-specific rate is as low as 2.49%:
https://www.parsonsfcu.org/loan-rates

Most others I'm seeing are in the mid 3's and upward. Any others that are worth looking into?

Did you apply to Parsons FCU? Seems like that's a pretty great rate, particularly being EV specific. Any personal experience with them? Anyone?

 

[Aroohoo]

@sevengroove I already did the hard work for you by making SoundCU figure out how to finance a Rivian. Still below 3%.
https://www.soundcu.com/rates/personal-rates/#autoloans

Did you go into a physical branch? At least on their online loan application as of last week, they didn't have Rivian as a selectable manufacturer.

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