Credit Unions? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

JonnyCamaro · 09-10-2011, 11:06 AM

I am first time buyer, I've been patient and have been saving money for a big downpayment on my first car (Camaro 2SS/RS).

A friend is trying to tell me that credit unions can be used for more than just car loans. They seem to be suggesting they (credit union) can play additional roles in getting a better price on a vehicle. This has left me thoroughly confused since people on these forums suggest that invoice or below is attainable with persistence, patience, and making dealers compete for your business. I have USAA which offers fantastic interest rates, which will beat out the national average on credit unions by a long shot.

Can joining a credit union net me an even lower price? If so, how? Any advice is greatly appreciated.

p.s. i've recently joined the forums and I am really enjoying the community so far. I'm used to forums filled with flame threads and bickering so this is a welcome change.

RiCorvette · 09-10-2011, 11:30 AM

I had to reactivate my USAA account to get an additional discount - $750, I think.
Discounts, offers and incentives are constantly changing, it seems.

I finance my purchase with a FCU HELOC at 4%.

Costco has an auto buyers program, but a 'high demand' car like the Camaro may not be subject to much help.

chvyman · 09-10-2011, 08:45 PM

being a credit union member may qualify you for a discount equal to supplier pricing. that is what I did when I bought mine.

midnighter · 09-10-2011, 08:49 PM

My savings and checking is at my local credit union. Much nicer that dealing with big banks and all their changing things around every month. Plus the gorgeous 22 year old Norma works there who I take pleasure in doing business with

.

dutchnrican · 09-10-2011, 08:55 PM

all the credit union discount will do is get you supplier pricing. if you're paying invoice or below for the car you order (which you should be) then you are already below that price. The credit union discount is irrelevant and doesn't help you there. On the other hand, if you are a member of USAA, that will get you $750.00 off. You don't need to have insurance with them either, just sign up online. That's what I did.

austin · 09-11-2011, 08:13 AM

I got a great price from Becky that a credit union couldn't touch. I did, however, receive a low rate from my cu - 2.99% minus another quarter percent for having auto payroll deduction bringing my rate to 2.74%. On a 2012 Camaro I think that's a pretty good rate.
As far as the price of the vehicle, get the best price you can locally then contact Becky.

JonnyCamaro · 09-11-2011, 08:17 AM

Thank you all for the replies. When I look at the handy 2012 Camaro pricing sheet it has these columns: MSRP, Dealer Invoice Price, Dealer Price, GM Preferred Price.

When you mention dealer pricing are you referring to the 'GM preferred price'? The 'Dealer Price' is the lowest priced column on the whole sheet, not even 'Invoice' beats it.

JonnyCamaro · 09-11-2011, 08:22 AM

Quote:

Originally Posted by austin

I got a great price from Becky that a credit union couldn't touch. I did, however, receive a low rate from my cu - 2.99% minus another quarter percent for having auto payroll deduction bringing my rate to 2.74%. On a 2012 Camaro I think that's a pretty good rate.
As far as the price of the vehicle, get the best price you can locally then contact Becky.

I've messaged her, but no response yet.

austin · 09-11-2011, 08:38 AM

Quote:

Originally Posted by JonnyCamaro

I've messaged her, but no response yet.

She will get back to you shortly I'm sure. She is very prompt. She calls me every time there is an update with my order and she's way ahead of the gmconnects tracking site. Let me know how you make out.

JonnyCamaro · 09-11-2011, 08:41 AM

Quote:

Originally Posted by austin

She will get back to you shortly I'm sure. She is very prompt. She calls me every time there is an update with my order and she's way ahead of the gmconnects tracking site. Let me know how you make out.

Sounds good, Austin. Thanks for the help.

austin · 09-11-2011, 08:44 AM

No prob.

XeroSS · 09-11-2011, 10:36 AM

If you're shopping for credit unions, I'm using Penfed right now. It's 1.99% APR 1-4 years, and 2.49% for 5.

https://www.penfed.org/

And yeah, like they said it should get you supplier discount pricing, but Becky is better. It's the weekend so just give her some time.

JonnyCamaro · 09-11-2011, 10:58 AM

Quote:

Originally Posted by XeroSS

If you're shopping for credit unions, I'm using Penfed right now. It's 1.99% APR 1-4 years, and 2.49% for 5.

https://www.penfed.org/

And yeah, like they said it should get you supplier discount pricing, but Becky is better. It's the weekend so just give her some time.

I messaged her last Wednesday. :(

ckaram · 09-11-2011, 11:24 AM

Hang in there. Becky rocks.

Also second PenFed. Got 2.49 for 60 mos

09-10-2011, 11:06 AM	#1
JonnyCamaro Drives: Soon to be Camaro Join Date: Sep 2011 Location: Texas Posts: 79	Credit Unions? I am first time buyer, I've been patient and have been saving money for a big downpayment on my first car (Camaro 2SS/RS). A friend is trying to tell me that credit unions can be used for more than just car loans. They seem to be suggesting they (credit union) can play additional roles in getting a better price on a vehicle. This has left me thoroughly confused since people on these forums suggest that invoice or below is attainable with persistence, patience, and making dealers compete for your business. I have USAA which offers fantastic interest rates, which will beat out the national average on credit unions by a long shot. Can joining a credit union net me an even lower price? If so, how? Any advice is greatly appreciated. p.s. i've recently joined the forums and I am really enjoying the community so far. I'm used to forums filled with flame threads and bickering so this is a welcome change.

09-10-2011, 08:55 PM	#5
dutchnrican brevard Drives: 2012 Black 2SS/RS M6. Join Date: Jul 2011 Location: ny or fl Posts: 776	all the credit union discount will do is get you supplier pricing. if you're paying invoice or below for the car you order (which you should be) then you are already below that price. The credit union discount is irrelevant and doesn't help you there. On the other hand, if you are a member of USAA, that will get you $750.00 off. You don't need to have insurance with them either, just sign up online. That's what I did. __________________

09-11-2011, 08:13 AM	#6
austin Team LFX - 45TH RS Drives: 2012 2LT/RS 45th Join Date: Aug 2011 Location: NE PA Posts: 400	I got a great price from Becky that a credit union couldn't touch. I did, however, receive a low rate from my cu - 2.99% minus another quarter percent for having auto payroll deduction bringing my rate to 2.74%. On a 2012 Camaro I think that's a pretty good rate. As far as the price of the vehicle, get the best price you can locally then contact Becky. __________________

09-11-2011, 08:44 AM	#11
austin Team LFX - 45TH RS Drives: 2012 2LT/RS 45th Join Date: Aug 2011 Location: NE PA Posts: 400	No prob. __________________

09-11-2011, 10:36 AM	#12
XeroSS Drives: 2012 SW Camaro 2SS M6 Join Date: Jun 2011 Location: Henderson, NV Posts: 26	If you're shopping for credit unions, I'm using Penfed right now. It's 1.99% APR 1-4 years, and 2.49% for 5. https://www.penfed.org/ And yeah, like they said it should get you supplier discount pricing, but Becky is better. It's the weekend so just give her some time. __________________ BeckyD Satisfied Customer! Borla Atak Axleback Exhaust \| CAI Intake \| ADM Scoop \| Skip-shift Eliminator

09-10-2011, 11:30 AM	#2
RiCorvette Drives: 2017 Corvette Grand Sport 3LT Join Date: Oct 2010 Location: Center of the known Universe Posts: 863	I had to reactivate my USAA account to get an additional discount - $750, I think. Discounts, offers and incentives are constantly changing, it seems. I finance my purchase with a FCU HELOC at 4%. Costco has an auto buyers program, but a 'high demand' car like the Camaro may not be subject to much help.

09-10-2011, 08:45 PM	#3
chvyman Drives: 2SS 45TH,gfx,blade spoiler,h grille Join Date: Jan 2010 Location: Leechburg PA Posts: 295 View My Garage	being a credit union member may qualify you for a discount equal to supplier pricing. that is what I did when I bought mine.

09-10-2011, 08:49 PM	#4
midnighter Account Suspended Drives: nothing Join Date: Nov 2010 Location: a hole Posts: 17,906	My savings and checking is at my local credit union. Much nicer that dealing with big banks and all their changing things around every month. Plus the gorgeous 22 year old Norma works there who I take pleasure in doing business with .

09-11-2011, 08:17 AM	#7
JonnyCamaro Drives: Soon to be Camaro Join Date: Sep 2011 Location: Texas Posts: 79	Thank you all for the replies. When I look at the handy 2012 Camaro pricing sheet it has these columns: MSRP, Dealer Invoice Price, Dealer Price, GM Preferred Price. When you mention dealer pricing are you referring to the 'GM preferred price'? The 'Dealer Price' is the lowest priced column on the whole sheet, not even 'Invoice' beats it.

09-11-2011, 11:24 AM	#14
ckaram Drives: 2011 2SS RS, 1968 ragtop Join Date: Apr 2009 Location: Indiana Posts: 1,850	Hang in there. Becky rocks. Also second PenFed. Got 2.49 for 60 mos __________________ 1968 Camaro Convertible LS1, T56

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