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Aag12

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Wire transfer or certified check.
I requested a check and then asked them for a copy of the check and tracking number. I was able to take delivery with just that info
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Aag12

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it's almost always best to finance through Rivian and then refinance after the fact, just makes things utterly painless
Be warned that you are paying titling and or processing fees twice then. It's not zero costs in my research.

Also some refi companies have a deadline on how fast your prior lender needs to release the title. Adelfi for example gives you 60days before they hit you with fees. Also Depending on state, titling can take 60 to 90 days to get processed at the dmv. Probably longer with rivian.

So key risk is you might have to wait a few months until you can refi and then eat fees....
 

jhatfie

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Not the lowest around, but I went with Alaska USA Federal Credit Union as I have financed through them before and Sound CU upped their rate to over 4% @ 72 now. Issued 3.85% for 72 months
 
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sevengroove

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Finally got Parsons to cut my check today, after about week worth of poking and prodding. Other than all the bugging I had to do from my end, I will begrudgingly admit that the process ended up actually being pretty smooth once I had them engaged in fits and starts. And I'm stoked with the 2.79% rate and the fact that I finally get to pick up my truck tomorrow!
Same here! Check is cut and mailed out as of today. Got the 2.49% rate as promised (includes the EV discount, checking account and automatic payments discounts). My process has also been like how you described - I think they are my most contacted entity on my phone over the past couple of weeks, even more than my guide.

I am glad I got the process started early with them because I needed every day of buffer that I thought I had baked in. I would not recommend them for R1 Shop purchases because they are simply not equipped to turn loans around that quickly, unless you want to take the leap of faith and set up membership well ahead of time.

Otherwise, they have been pleasant and courteous to work with, and they eventually come through.
 

AxelR

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Be warned that you are paying titling and or processing fees twice then. It's not zero costs in my research.
Not true with my CU.

And yes, if you refinance too fast you’ll be hit with penalties if the new lien holder doesn’t get the title within 60 days (most of the time).
 

the long way downunder

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I'm still waiting on Parsons. Applied for the loan Tuesday around 11am, and got the email Wednesday evening from Rivian that my truck was ready for pickup. I've been pestering Parsons the past couple days and yesterday they basically said it's taking 4-5 days and I should expect them to reach out to me early next week. I'm still optimistically scheduled for picking it up tomorrow, but I assume I'll be rescheduling that later today.

Communication has been fine and everyone has been friendly and helpful, timing just sucks. Oh well, what's another few days in the grand scheme of things?
Banks have been in turmoil since firing a lot of staff in covid (such big-hearted people, banks) and then trying to re-hire only to find the better people found new careers and the lesser people are … well, lesser … plus they're overworked because the last two years have been crazy for people taking on credit risk. Now the demand for credit has all but stopped (almost literally stopped.) People are not willing to pay the abruptly higher rates, the banks are strict on application verification and document verification (to avoid another '08 crash in their lending risk.) So the turnaround has slowed down in anticipation of even higher rates. Their core grift (mortgages) have also slowed (stopped) so they've again started to reduce the staffing and the teams of people (there's up to four teams to work through any application) are not moving at the same pace, so each step can cause 24hrs turnaround (that doesn't translate directly into 4-5 day delays because the work is meant to be done in parallel) but banks really need to drag themselves out of last century and into the current day expectations of "click and it happens" (e.g. buying a house or a car is down to a single docusign and all of the hassle is the financial product sales.)
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