Thanks. I just became a member of American Consumer Council and got the membership certificate. I'll open an ussfcu tomorrow and give them a call to expedite. I need it asap.
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Add Yours: VW ID. Buzz Owner's Registry
US National Auto Interest Rates
I am not a financial advisor, the research below is for informational purposes only. If you want to learn How To Pay No More Than MSRP, see my post here.
Always look for local credit unions around you first.
Avoid credit hard pulls if possible.
Just for fun I decided to check what is the Volkswagen US National interest rate for loans. Looks like up to 48 months the interest rate is 6.39% and up to 60 months 6.39%. Searching the "internets" I found:
1. Interior Federal Credit Union offering 5.00% for loans up to 36 months and 5.25% up to 60 months. The Credit Union has an open membership for anyone who join the New Mexico Wildlife Federation.
2. Fort Financial Credit Union offering "as low as" 5.49%. The Credit Union has an open membership for anyone who joins the Financial Fitness Association with an $8.00 donation. Rates are based on credit qualifications, including credit score, minimum amount financed and term, and includes Premier relationship discount of 0.25% APR.
3.Park Community Credit Union offering 3.25% up to 48 months and 3.50% up to 60 months. The Credit Union has an open membership for anyone who joins the Financial Fitness Association with an $8.00 donation. They are not accepting virtual applications at this time. You need to visit a local branch.
4. SRI Federal Credit Union offering 4.99% up to 72 months. Possible 0.26% rate discount on Zero Emission. The Credit Union has an open membership for anyone who joins the Financial Fitness Association with an $8.00 donation.
5. Tower Federal Credit Union offering 5.74% up to 36 months, 6.49% up to 60 months and 6.99% up to 72 months. The Credit Union has an open membership for anyone who becomes a member of the TowerCares Foundation with a $35 donation. Receive a 0.25% APR autodraft discount when you autodraft your payment from your existing checking account
6. Insight Credit Union offering 4.49% - 17.45% up to 84 months (Receive a 0.25% APR autodraft discount when you autodraft your payment from your existing Insight Credit Union checking account). The Cedit Union has an open membership with a $5.00 donation to the Insight Community Foundation.
7. United States Senate Federal Credit Union offering 2.99% up to 36 months, 3.24% up to 48 months and 3.49% up to 60 months (rates include 0.25% rate discount for automatic payment from a USSFCU account). Membership is open to anyone through a contribution to the US Capitol Historical Society (USCHS).
8. CommonWealth One Federal Credit Union offering 2.74% up to 36, 3.99% up to 48 months, 4.49% up to 60 months and 4.99% up to 72 months. You can join CommonWealth One FCU by becoming a lifetime member of the non-profit, consumer education organization, Virginia Consumer Council (VACC).
9. Gold Coast Federal Credit Union as low as 3.49%. You can become a member by making a contribution to $5.00 to the New Horizons Elementary School PTA. GCFCU is no longer accepting out of state applications. See post here.
11. Taleris Credit Union rates as low as 3.49%. You can become a member by making a $5.00 contribution to either the Public Animal Welfare Society (PAWS) or Seven Hills Historical Society. Loan Rate Discounts: Fuel Efficient, Electric, or Hybrid vehicle purchase = 0.10% discount Fuel Efficient Autos, which are five years old or less, and get 30 mpg Hwy or more, and have less than 75,000 mile
12. Digital Federal Credit Union (DCU) with rates as low as 5.74% up to 65 months. Published rate includes a 0.50% discount given when you maintain electronic payments and Plus or Relationship benefits on your DCU checking account. You can get an additional .25% off if you finance an energy efficient vehicle. You can become a member by following this referral link for a chance to get $20 with qualifying account with qualifying activities.
Non-Traditional Car Lending
1. Carputty a revolving line of credit is designed to seamlessly finance all of the vehicles in your garage – new or used, present or future. You’ll never have to apply for an auto loan again! A Carputty line of credit is tied to you—not a specific car.
2. First Republic Personal Line of Credit offering 6.95% – 8.45%. You can use your line of credit for whatever you want. Per their FAQs "First Republic Bank has a limited service area for retail banking. Personal Line of Credit applicants must be located within close proximity to our offices in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland (Oregon), Bellevue (Washington), Jackson (Wyoming), Boston, Palm Beach (Florida), Greenwich or New York City."
More info here https://www.bogleheads.org/forum/viewtopic.php?t=342046
3. Bank of America Business Auto Loan Fixed rates as low as 6.19% - You can get up to four Small Business Auto Loans with one Experian hard pull the same day. If you wait till the next day to apply, you will get a second hard pull on your Experian credit report. What you need:
1. Properly established LLC with EIN (The LLC I used I established it last month for my Turo business)
2. Stated personal income
3. Stated business income
4. Maximum combined loan amount $75K. For example, you can do three $25K loans or divvy up the $75K between 4 loans.
5. You need to wait till a loan is approved before applying for the next loan.
6. All four loans have to be requested the same day. If you wait till the next day or later, there will be another Experian hard pull.
7. Minimum Experian FICO score 720
8. Make sure that you write down exactly the same information on each application
If you need help establishing an LLC and/or getting business funding up to $250K in unsecured business credit cards, go to this link.
Did any of you get a lower interest rate recently? If so, what bank or Credit Union?
Always look for local credit unions around you first.
Avoid credit hard pulls if possible.
Just for fun I decided to check what is the Volkswagen US National interest rate for loans. Looks like up to 48 months the interest rate is 6.39% and up to 60 months 6.39%. Searching the "internets" I found:
1. Interior Federal Credit Union offering 5.00% for loans up to 36 months and 5.25% up to 60 months. The Credit Union has an open membership for anyone who join the New Mexico Wildlife Federation.
2. Fort Financial Credit Union offering "as low as" 5.49%. The Credit Union has an open membership for anyone who joins the Financial Fitness Association with an $8.00 donation. Rates are based on credit qualifications, including credit score, minimum amount financed and term, and includes Premier relationship discount of 0.25% APR.
3.
4. SRI Federal Credit Union offering 4.99% up to 72 months. Possible 0.26% rate discount on Zero Emission. The Credit Union has an open membership for anyone who joins the Financial Fitness Association with an $8.00 donation.
5. Tower Federal Credit Union offering 5.74% up to 36 months, 6.49% up to 60 months and 6.99% up to 72 months. The Credit Union has an open membership for anyone who becomes a member of the TowerCares Foundation with a $35 donation. Receive a 0.25% APR autodraft discount when you autodraft your payment from your existing checking account
6. Insight Credit Union offering 4.49% - 17.45% up to 84 months (Receive a 0.25% APR autodraft discount when you autodraft your payment from your existing Insight Credit Union checking account). The Cedit Union has an open membership with a $5.00 donation to the Insight Community Foundation.
7. United States Senate Federal Credit Union offering 2.99% up to 36 months, 3.24% up to 48 months and 3.49% up to 60 months (rates include 0.25% rate discount for automatic payment from a USSFCU account). Membership is open to anyone through a contribution to the US Capitol Historical Society (USCHS).
8. CommonWealth One Federal Credit Union offering 2.74% up to 36, 3.99% up to 48 months, 4.49% up to 60 months and 4.99% up to 72 months. You can join CommonWealth One FCU by becoming a lifetime member of the non-profit, consumer education organization, Virginia Consumer Council (VACC).
9. Gold Coast Federal Credit Union as low as 3.49%. You can become a member by making a contribution to $5.00 to the New Horizons Elementary School PTA. GCFCU is no longer accepting out of state applications. See post here.
11. Taleris Credit Union rates as low as 3.49%. You can become a member by making a $5.00 contribution to either the Public Animal Welfare Society (PAWS) or Seven Hills Historical Society. Loan Rate Discounts: Fuel Efficient, Electric, or Hybrid vehicle purchase = 0.10% discount Fuel Efficient Autos, which are five years old or less, and get 30 mpg Hwy or more, and have less than 75,000 mile
12. Digital Federal Credit Union (DCU) with rates as low as 5.74% up to 65 months. Published rate includes a 0.50% discount given when you maintain electronic payments and Plus or Relationship benefits on your DCU checking account. You can get an additional .25% off if you finance an energy efficient vehicle. You can become a member by following this referral link for a chance to get $20 with qualifying account with qualifying activities.
Non-Traditional Car Lending
1. Carputty a revolving line of credit is designed to seamlessly finance all of the vehicles in your garage – new or used, present or future. You’ll never have to apply for an auto loan again! A Carputty line of credit is tied to you—not a specific car.
2. First Republic Personal Line of Credit offering 6.95% – 8.45%. You can use your line of credit for whatever you want. Per their FAQs "First Republic Bank has a limited service area for retail banking. Personal Line of Credit applicants must be located within close proximity to our offices in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland (Oregon), Bellevue (Washington), Jackson (Wyoming), Boston, Palm Beach (Florida), Greenwich or New York City."
More info here https://www.bogleheads.org/forum/viewtopic.php?t=342046
3. Bank of America Business Auto Loan Fixed rates as low as 6.19% - You can get up to four Small Business Auto Loans with one Experian hard pull the same day. If you wait till the next day to apply, you will get a second hard pull on your Experian credit report. What you need:
1. Properly established LLC with EIN (The LLC I used I established it last month for my Turo business)
2. Stated personal income
3. Stated business income
4. Maximum combined loan amount $75K. For example, you can do three $25K loans or divvy up the $75K between 4 loans.
5. You need to wait till a loan is approved before applying for the next loan.
6. All four loans have to be requested the same day. If you wait till the next day or later, there will be another Experian hard pull.
7. Minimum Experian FICO score 720
8. Make sure that you write down exactly the same information on each application
If you need help establishing an LLC and/or getting business funding up to $250K in unsecured business credit cards, go to this link.
Did any of you get a lower interest rate recently? If so, what bank or Credit Union?
301 - 310 of 310 Posts
Did you pay the initial deposit/fee by check or debit card?Hi, yes it wasn't difficult. First, when trying to get the membership, it asks you to maka donation to US Capitol Society or something. It has the link. I can go there and there is bunch options for donation membership. It needs to be minimum $65 to become a member for that. Once I paid the amount, shortly an email comes showing confirmation that I paid $65 and became a member.
Now I follow the usual signup process to the bank and later upload the screenshot of the donation confirmation email. Once that is done, I can apply for car loan. The process is simple and doesn't really require much. Perhaps uploading utility bills and driver license etc.
Once application is done. I waited and got a secured message that loan is pre-approved but need more info. So I uploaded documents like purchase order. Then it hung for a few days. But I called the customer service, and talked to loan officer and figured out additional documents that needs to be uploaded and that was pretty much it. Oh by the way need to link external account asap as that takes few days and need to have 30 dollars to overnight check to dealership.
If you used Debut card, was there a cash advance charge on your card?
First republic upped their personal line of credit rates by 3%.. basically dead in water now.
Thought I'd share our financing journey (we purchased on 2/28): Our dealer (Boston VW in Watertown, MA, with whom we had a great experience overall) said they don't generally go through VW Credit but check a number of lenders to bring back 3 options. This struck me as a bit odd, as everything I've ever been taught says dealers make most of the money off of a new sale by pushing their own financing, but we went along with it.
The lowest of the 3 they offers they came back with was 7.6% (for 72 mos) through Chase. I'd been researching rates in the weeks before we purchased, and given the "average" was running around 6% and my wife and both have very good credit, I was expecting something closer to 5%, but in the interest of moving things along (and knowing we had options to refi) we accepted the deal.
Once we brought the car home I remembered simply as residents we're eligible to join our town's municipal employee credit union, which we did last week (by having to open an account with an onerous deposit of...... $25) and we'll be refinancing at 4.25%; higher than some of the deals I've seen here, but given it's 44% lower than where we are, we're happy.
The lowest of the 3 they offers they came back with was 7.6% (for 72 mos) through Chase. I'd been researching rates in the weeks before we purchased, and given the "average" was running around 6% and my wife and both have very good credit, I was expecting something closer to 5%, but in the interest of moving things along (and knowing we had options to refi) we accepted the deal.
Once we brought the car home I remembered simply as residents we're eligible to join our town's municipal employee credit union, which we did last week (by having to open an account with an onerous deposit of...... $25) and we'll be refinancing at 4.25%; higher than some of the deals I've seen here, but given it's 44% lower than where we are, we're happy.
Great! Credit Unions is the best way to go. If you don't mind, will you tell me how many inquiries landed on your credit reports due to the dealer running your credit?Thought I'd share our financing journey (we purchased on 2/28): Our dealer (Boston VW in Watertown, MA, with whom we had a great experience overall) said they don't generally go through VW Credit but check a number of lenders to bring back 3 options. This struck me as a bit odd, as everything I've ever been taught says dealers make most of the money off of a new sale by pushing their own financing, but we went along with it.
The lowest of the 3 they offers they came back with was 7.6% (for 72 mos) through Chase. I'd been researching rates in the weeks before we purchased, and given the "average" was running around 6% and my wife and both have very good credit, I was expecting something closer to 5%, but in the interest of moving things along (and knowing we had options to refi) we accepted the deal.
Once we brought the car home I remembered simply as residents we're eligible to join our town's municipal employee credit union, which we did last week (by having to open an account with an onerous deposit of...... $25) and we'll be refinancing at 4.25%; higher than some of the deals I've seen here, but given it's 44% lower than where we are, we're happy.
Great question! No idea off hand, but happy to look into it - I'll share as soon as I check this week -Great! Credit Unions is the best way to go. If you don't mind, will you tell me how many inquiries landed on your credit reports due to the dealer running your credit?
gold coast is now 4.29% with 100% direct deposit or 4.49% without direct deposit for 60 months
We took the suggestion of using US Senate Federal Credit Union (USSFCU) and got 84 months at 4.24% last month. I was blown away. Everyone else was at 7% for 84 months.
Last July, we got 84 months at 4% for our Mach-e, from a major bank (Truist) but that was a very different credit environment.
It's a bit of a process to join, but if you don't work at one of the approved employers, you just make a $60 donation to the US Capitol Historical Society, they verify that, interview you via phone to comply with "know your customer" laws and make sure you actually plan to use their products, then you're good to go.
Start the process at least a week and a half before you need the funds, preferably 2 weeks.
Last July, we got 84 months at 4% for our Mach-e, from a major bank (Truist) but that was a very different credit environment.
It's a bit of a process to join, but if you don't work at one of the approved employers, you just make a $60 donation to the US Capitol Historical Society, they verify that, interview you via phone to comply with "know your customer" laws and make sure you actually plan to use their products, then you're good to go.
Start the process at least a week and a half before you need the funds, preferably 2 weeks.
For USSFCU I was able to join American Consumer Council- A Non-Profit Consumer Education Organization for free with code ussfcu
I added this to the non-traditional car lending section. I was able to get two commercial auto loans with BOA with one credit pull. You can get up to four loans the same day with one credit pull under your LLC.
Bank of America Business Auto Loan Fixed rates as low as 6.19% - You can get up to four Small Business Auto Loans with one Experian hard pull the same day. What you need:
1. Properly established LLC with EIN (The LLC I used I established it last month for my Turo business)
2. Stated personal income
3. Stated business income
4. Maximum combined loan amount $75K. For example, you can do three $25K loans or divvy up the $75K between 4 loans.
5. You need to wait till a loan is approved before applying for the next loan.
6. All four loans have to be requested the same day. If you wait till the next day or later, there will be another Experian hard pull.
7. Minimum Experian FICO score 720
8. Make sure that you write down exactly the same information on each application
If you need help establishing an LLC and/or getting business funding up to $250K in unsecured business credit cards, go to this link.
Bank of America Business Auto Loan Fixed rates as low as 6.19% - You can get up to four Small Business Auto Loans with one Experian hard pull the same day. What you need:
1. Properly established LLC with EIN (The LLC I used I established it last month for my Turo business)
2. Stated personal income
3. Stated business income
4. Maximum combined loan amount $75K. For example, you can do three $25K loans or divvy up the $75K between 4 loans.
5. You need to wait till a loan is approved before applying for the next loan.
6. All four loans have to be requested the same day. If you wait till the next day or later, there will be another Experian hard pull.
7. Minimum Experian FICO score 720
8. Make sure that you write down exactly the same information on each application
If you need help establishing an LLC and/or getting business funding up to $250K in unsecured business credit cards, go to this link.
301 - 310 of 310 Posts
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