09-10-2011, 11:06 AM | #1 |
Drives: Soon to be Camaro Join Date: Sep 2011
Location: Texas
Posts: 79
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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, 11:30 AM | #2 |
Drives: 2017 Corvette Grand Sport 3LT Join Date: Oct 2010
Location: Center of the known Universe
Posts: 863
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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 |
Drives: 2SS 45TH,gfx,blade spoiler,h grille Join Date: Jan 2010
Location: Leechburg PA
Posts: 295
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being a credit union member may qualify you for a discount equal to supplier pricing. that is what I did when I bought mine.
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09-10-2011, 08:49 PM | #4 |
Account Suspended
Drives: nothing Join Date: Nov 2010
Location: a hole
Posts: 17,906
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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 .
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09-10-2011, 08:55 PM | #5 |
brevard
Drives: 2012 Black 2SS/RS M6. Join Date: Jul 2011
Location: ny or fl
Posts: 776
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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.
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09-11-2011, 08:13 AM | #6 |
Team LFX - 45TH RS
Drives: 2012 2LT/RS 45th Join Date: Aug 2011
Location: NE PA
Posts: 400
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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.
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09-11-2011, 08:17 AM | #7 |
Drives: Soon to be Camaro Join Date: Sep 2011
Location: Texas
Posts: 79
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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, 08:22 AM | #8 | |
Drives: Soon to be Camaro Join Date: Sep 2011
Location: Texas
Posts: 79
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09-11-2011, 08:38 AM | #9 |
Team LFX - 45TH RS
Drives: 2012 2LT/RS 45th Join Date: Aug 2011
Location: NE PA
Posts: 400
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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.
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09-11-2011, 08:41 AM | #10 |
Drives: Soon to be Camaro Join Date: Sep 2011
Location: Texas
Posts: 79
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09-11-2011, 08:44 AM | #11 |
Team LFX - 45TH RS
Drives: 2012 2LT/RS 45th Join Date: Aug 2011
Location: NE PA
Posts: 400
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No prob.
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09-11-2011, 10:36 AM | #12 |
Drives: 2012 SW Camaro 2SS M6 Join Date: Jun 2011
Location: Henderson, NV
Posts: 26
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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.
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BeckyD Satisfied Customer!
Borla Atak Axleback Exhaust | CAI Intake | ADM Scoop | Skip-shift Eliminator |
09-11-2011, 10:58 AM | #13 | |
Drives: Soon to be Camaro Join Date: Sep 2011
Location: Texas
Posts: 79
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09-11-2011, 11:24 AM | #14 |
Drives: 2011 2SS RS, 1968 ragtop Join Date: Apr 2009
Location: Indiana
Posts: 1,850
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Hang in there. Becky rocks.
Also second PenFed. Got 2.49 for 60 mos
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1968 Camaro Convertible LS1, T56
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