3.7%, 3.8%, 3.9% Financing (66 months). Find out how...

[TAG UR IT]

I know there is already a million threads covering this. But, I have to put this up there to the top.

The best financing I have found to date is 3.7% from Randolph Brooks Federal Credit Union. The 3.7% is basically for well qualified members...you have numerous accounts, credit cards, do your bills through them ,etc. If you are already with RBFCU, you know you will be fine. 3.7 is fantastic.

HOWEVER>>>>>

If you are NOT with RBFCU or you can not find good financing rates, you need to look here.

If you are not a member, you need to be qualified first to become a member (military, specific associations, etc, - they help you with this). Once you are qualified as a member, they check all your information to see if you are qualified for the loan.

You need to open a savings account with $5. That is all. If you are qualified as a member, you can immediately check to see if you are qualified for the loan. The rate you get will be 3.9% (since you are a new member and not long standing with credit cards through them, etc.). But, you are qualified for the 3.9% loan.

Then...if you want to get that loan lower, buy gap insurance. The cost is $175 and it's a one time fee. You all know what that covers...accidents, theft, etc. If you buy that gap insurance, you then get .1% off bringing it down to 3.8%.

If you want to lower it to 3.7% from there, you can buy the life insurance policy that comes with the car. I did this when buying my brand new a car a while back. Hey...you buy the car and something happens a year later taking your life, the bank pays off the car. Guess what, your spouse or other family member just got a free car. I'm not sure how much this costs, but it isn't a bad idea. As I said, I did it before and it wasn't much at all. We did it for my wifes car and for my last Camaro a while back. Might seem like a waste of money to some. Depends on the person.



Anyhow... I wanted to pass this info along. How to get 3.7, 3.8, and 3.9% financing.

Don't forget, there is also Pentagon Federal Credit Union for a healthy 3.99%.


I was approved for the 3.9% today and since I'd buy the gap insurance, would bring it down to 3.8%. Depending on the life insurance, I might get that 3.7%

[dbotsfordtat]

Do you have to have a VIN before you can apply at pentagon?

[PAUL SS]

48, 60, 72, 84 months?

[PQ]

Originally Posted by Paul SS

48, 60, 72, 84 months?

There is such a thing as 84 months?



I don't guess I can join from Alabama?

[kdoske]

Great info thanks!

Originally Posted by irpq11

There is such a thing as 84 months?



I don't guess I can join from Alabama?

LOL, yeah, unfortunately.

[TAG UR IT]

YOWZA! Sorry!

The term I was quoted for was for 66 months. I'm sure you could probably move it around from there. But.......66 months.

Also, I'm sure you could join even though you are from Alabama. You just need to fit the criteria (military or otherwise on the list) and they should help you out.

[Vash]

It's gonna depend on your zip and credit history and the car for whatever they decide to offer you. There is a 3 person panel that pulls the trigger. Well at least when I buy my used Camaro5 I won't be the first from RBFCU.

BTW they have a 01 vette repo with a new engine and headers lol. The note says it can't pass inspection.

Here is a nice PDF with NCUA credit unions by area and some basic info of there books and contacts.

http://www.ncua.gov/DataServices/Dir...ectory2008.pdf

[PAUL SS]

Originally Posted by irpq11

There is such a thing as 84 months?



I don't guess I can join from Alabama?

Yes there is.

[Vash]

Go as short as you can afford.