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For anyone in the Houston area, Wellby Financial has the best current rates I've found. No asterisks beyond the credit score. Don't have to buy additional banking products to get these rates.
Bad news for anyone out of state and not in the immediate area of North Carolina. North Carolina Cooperative will only do Auto Loans for those who reside in the state or surrounding area. I wonder if there are any ways around it, like if you have any immediate family in the area then they will make an exception or something.
Maybe they changed their policy. I got an auto loan out of state in NY no problem in 2020. Easy as pie!
Did they tell you that personally? The site just says they don't refinance for out of staters.
I applied and it was in the welcome email I received from the credit union. I'm still going to open an account with them as I do have family in the area so maybe an exception can be made. I'll report back but it won't be for a few months.
I applied and it was in the welcome email I received from the credit union. I'm still going to open an account with them as I do have family in the area so maybe an exception can be made. I'll report back but it won't be for a few months.
Here's the email my wife got. It just says NJ residents are out of luck for first auto loans.
Welcome! You are just a few steps away from obtaining account membership with Carolina Cooperative Federal Credit Union. You will be receiving a packet in the mail that contains important documents that will need to be reviewed, completed, and returned. Instructions are included to help guide you through the paperwork. Your initial account opening is unavailable electronically, so please watch your USPS mail delivery for your packet. If you have joined the North Carolina Consumer Council, please understand that the membership number given to you by the NCCC is not your savings account number with Carolina Cooperative FCU. Your account number with CCFCU will be assigned once we receive your account opening documents back from you.
If you are applying for a loan, it takes an average of 5 business days once your savings account is open with its deposit. With Carolina Cooperative FCU, you must have at least a savings account to be able to apply for any of our loan products. A copy of your valid driver’s license(required for auto loan applicants) or valid state issued ID is required for your account opening and must have the correct address where you currently live, or we must have address verification. Our lending options do not stop at auto loans. We also offer personal loans, Visa credit cards with exceptional rates, secured loans, and recreational vehicle loans!
We have some limitations regarding our lending platform. Due to tightened restrictions for out of state lenders in the state of New Jersey, we are unable to finance any type of auto loan and apologize for any inconvenience. If you are looking to refinance your current auto loan or are at your end of lease buy out time period, please note that we are only able to refinance auto loans for those who reside in North Carolina or its connecting states, and private vehicle sales are only obtainable within the state of North Carolina.
Once you have completed the documents in your account opening packet, if you wish to expedite the process, you may do so at your expense with the express courier of your choice to Carolina Cooperative FCU, 2515-A W. Roosevelt Blvd, Monroe, NC 28110.
We look forward to having you as one of our members.
Here's the email my wife got. It just says NJ residents are out of luck for first auto loans.
Oh hmmm I must have mis-understood the wording (typical of me). So it seems like only NJ residents are ineligible? But everyone else is good with new Auto Loans? It does seem like they will only refinance local residents though.
Oh hmmm I must have mis-understood the wording (typical of me). So it seems like only NJ residents are ineligible? But everyone else is good with new Auto Loans? It does seem like they will only refinance local residents though.
Carolina Cooperative CU is no longer doing 84 month loans. Any other good CUs that are doing 84 month used car loans with similar low rates?
lol godammit. I'm literally waiting on them to open my account and was immediately going to apply for an 84 month loan....uuuggghh. I mean I wasn't actually going to finance with them, I was really just going to use their APR as a negotiation point to get under 2% with PFS.
Just checked the website and it looked like they are offering 72 month loans but also their interest rates have gone up a full percent. I was really hoping I could squeeze in and get their 2.25% before rate went up but it looks like I missed that window. Oh well..
Locked in with Wellby Financial CU here in Houston yesterday for either 2.99 up to 66 months or 3.49 for 72. I think their 84 is 3.99. Super easy approval process. I don't know if they'll write outside of Houston.
Locked in with Wellby Financial CU here in Houston yesterday for either 2.99 up to 66 months or 3.49 for 72. I think their 84 is 3.99. Super easy approval process. I don't know if they'll write outside of Houston.
the problem for me is that loans are only good for about a month before you have to re-apply. Car still has about 2 months till its here and I don't know when the dealership will reach out to me about financing. So locking a rate in early (which is also ding my credit a tad) may not work. I'm hoping PFS gives good rates to people with good credit score.
For anyone in the Houston area, Wellby Financial has the best current rates I've found. No asterisks beyond the credit score. Don't have to buy additional banking products to get these rates.
08-29-2022, 01:16 PM
