Northwest Federal Credit Union: 2.19% APR Auto Loans

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• I looked them up at bbb and decided the slight assistance in monthly cash flow wasn’t worth it. Numerous recent complaints about being reported late on their auto loans when they were not and having forced insurance put on when coverage was in place and/or them not registering the person confirmed their coverage. Sounded like a mess I didn’t want to take a risk on.

• Any of these loans payable with debit card?

• Georgia's Own Credit Union has 1.99%-2.28% with LTV up to 125% https://www.georgiasown.org/personal-account-rates-service-fees/

• Wait for the economy to collapse. I did, In may 2019 when COVID hit, dealers offered 0% for 84 months! Lets go brandon

  • You might not have a job when the economy collapses.

  • Wow, if you knew about Covid in May 2019, you really did have a crystal ball. So what month does the next pandemic/economic collapse peak?

  • You were very prescient 🧐

• Will they do a loan for lease buy out for someone looking to buy the car during end of the lease term?

• Great rate compared to the overall market. If you are considering this offer to refinance an existing auto loan, keep in mind the amortization schedule of your loan. If you are on the second half or towards the tail end of the loan, you may end up paying more interest if you refinance even to a lower rate.

• This credit union has an interesting field of membership if you are part of the Federal Government. From their website (and I quote):

  Personnel assigned or detailed to the Agency
  National Geospatial-Intelligence Agency at Building 213
  National Reconnaissance Office
  Office of the Director of National Intelligence
  Personnel assigned or detailed to the Department of Homeland Security

  • All federal govt doesn't qualify - I tried that excuse many years ago. The Agency refers to CIA/Secret Service IIRC.... but anyone can join if you join the Save the Koala's foundation... err, I mean, it was some other way in when I joined.

    Now I think a Membership in Northwest Federal Credit Union is open to anyone by joining the Florida Literacy Coalition ($10 membership fee).

• The lowest is AAFCU. 1.9% with direct deposit

  • Their website shows 3.79%

    • it says 1.9% - 10.95% up to 36 mth
      https://www.aacreditunion.org/49da88/globalassets/documents/loanrates.pdf

      • AAFCU != AACU

• DCU is comparable

  • They were a few weeks ago, but now they're at 3.24% with the relationship discount.

    • Now they're 3.9

    • Yeah I just finalized a loan with DCU at 2.49 a few days ago..

    • Yeah DCU shot up pretty high after being consistently low for years. Affinity still has rates between 2.2 and 2.8 for new cars, 2.5ish for used,

• Do they offer loans on paid off vehicles? If not, would they refinance a private loan?

  • There is a cash-out refi option on the loan application