Best Finance rates you can find available to all

[CodeOrangeGen3]

1.96% 84 months. UFCU in TX. These are published rates for the public and anyone can join. Not sure out of state though.

 

[Macdaddy]

Ford it seems never offers incentive percentage rates on the Raptor. So ur best rates will be at a credit union. I got the last auto loan from Wells Fargo 1 yr ago for 4% (they’ve stopped writing auto loans for some reason end of last yr.). Local credit unions are only a 1.5% lower than that. But I prefer having all my accounts in 1 place anyway so still went with WF.

 

[NJ2020]

Being in banking all my life I just have a few things:
-With the yield curve so flat right now, the longer term option is usually the best (even though it sounds terrible paying for 6 or 7 years).

-Prepaying only hurts you.

-At least on some of the large bank products (usually auto ABS), sometimes the loan amount can hurt you - too big OR too small of a loan can get you an exception rate (all else like credit score, DTI, etc. being equal).

-Credit unions offer great rates but watch for teasers. They might require deposit accounts (with x number of transactions per month) or direct deposit connected. Also some CUs or small community banks are behind the times with technology, some make it difficult to initiate ACH payments from an external account. Would hate to have my credit score affected because a physical check was lost in the mail..

-There's no loyalty in this space, don't stick with your bank just because you had an account there for 40 years or got a decent rate the year before. Banks move levers all the time. As mentioned, Wells Fargo grew their auto line drastically (rarely holding any of it) and just made the decision to basically shutter it last year, of course they still offer auto loans/servicing but the rates are not even close to market.

 

[Sephiroth]

As mentioned, Wells Fargo grew their auto line drastically (rarely holding any of it) and just made the decision to basically shutter it last year, of course they still offer auto loans/servicing but the rates are not even close to market.

Do you know why? Is it because they are unwilling to hold that risk on their balance sheet? Are they just selling the loans off?

 

[NJ2020]

Do you know why? Is it because they are unwilling to hold that risk on their balance sheet? Are they just selling the loans off?

I no longer work there but I believe it was just a business decision. They securitized a lot of it and credit quality historically has always been a WF strength, so not really a risk decision. It's a low margin volume business that requires a lot of overhead and framework to service. I always thought it was a line of business to sell (like they did WFAM and their student loan book).

 

[Honeybadger_Zero]

Be careful of USAA, they baited and switched me on my Raptor loan. Initial rate was 1.89% for 60 months then when I went to sign they raised it to over 3.5%, they said they reviewed my credit history and I didn’t qualify for the excellent credit rate. I’m 15 points short of an 850.

Yeah USAA been pretty ******* and crappy on rates and pricing for products lately.

 

[Honeybadger_Zero]

1.96% 84 months. UFCU in TX. These are published rates for the public and anyone can join. Not sure out of state though.

Doesnt mention having to live in the state just have to be part of organization they list, or donate 20$ to UT longhorn foundation which anyone can do.

 

[EMY92]

Doesnt mention having to live in the state just have to be part of organization they list, or donate 20$ to UT longhorn foundation which anyone can do.

$20 to the longhorn foundation? UFCU is off the list of potential lenders. They can all rot in HELL!

 

[Stojanowski]

$20 to the longhorn foundation? UFCU is off the list of potential lenders. They can all rot in HELL!

Hook em

 

[Stojanowski]

1.96% 84 months. UFCU in TX. These are published rates for the public and anyone can join. Not sure out of state though.

I'm not seeing that on their website