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Old 04-09-2008, 09:24 AM   #1
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buying a used car

can i get financed by a auto dealer and then get a auto loan from a credit union?

i dont belong to one now but im wondering if i join soon, how long will it be before i can borrow the money.
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Old 04-09-2008, 09:25 AM   #2
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Yes you can and you can join and get a loan at the same time.
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Old 04-09-2008, 09:27 AM   #3
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you can get a loan form the credit Union as soon as you open up your account. If you got State Farm insurance, they have State Farm Bank that has credit union interest rates. If you need me, lmk!
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Old 04-09-2008, 09:34 AM   #4
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you can get a loan form the credit Union as soon as you open up your account. If you got State Farm insurance, they have State Farm Bank that has credit union interest rates. If you need me, lmk!
will most branches be able to help me out or will i have to visit certain ones?
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Old 04-09-2008, 09:36 AM   #5
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are you trying to get 2 loans for 1 car?
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Old 04-09-2008, 09:40 AM   #6
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are you trying to get 2 loans for 1 car?
no one loan but was just trying to see if the dealers rates would be high if i found a lower rate with a credit union later on, could i transfer over.

im afraid that taking out one loan would lower my credit score when i apply for a lower one for the same car.
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Old 04-09-2008, 09:41 AM   #7
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shop the C/U first then walk into the dealership w/ knowledge of where you can be rate wise.
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Old 04-09-2008, 09:43 AM   #8
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get preapproved first at the credit union then you'll know what rate and how much of a loan you can get when you go to the dealer
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Old 04-09-2008, 09:49 AM   #9
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shop the C/U first then walk into the dealership w/ knowledge of where you can be rate wise.
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get preapproved first at the credit union then you'll know what rate and how much of a loan you can get when you go to the dealer
ive been thinking about that. other than state farm can you lead me to one that is pretty good and often used with good results?
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Old 04-09-2008, 09:54 AM   #10
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i bet HISD has one, or whatever school system you work for.
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Old 04-09-2008, 10:33 AM   #11
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i bet HISD has one, or whatever school system you work for.
i checked their rates and years and its higher than what i expected
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Old 04-09-2008, 10:35 AM   #12
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Old 04-09-2008, 10:36 AM   #13
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From Experience...

We did a lot of deals through:

JSC Credit Union.

Members Choice CU

TexasOne CCU




Most dealers now go through CUAC, which has all of the big players inside of it. Chances are the dealership can BEAT the CU's rate if they want to. When your at the dealer, ask them to disclose the "Buy Rate" to you. They'll most likely get red, and drop thier drawers.
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Old 04-09-2008, 10:40 AM   #14
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why would they disclose the buy rate? its like telling you the cost on the car.
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Old 04-09-2008, 10:42 AM   #15
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why would they disclose the buy rate? its like telling you the cost on the car.
Yep, sure is. I did it for quite a while. Because if they're tellin him 12%, and bullshitting him about it, and buy rate is 9%, he'll save a few bucks IF they disclose it to him. Not too many customers would ask of such a thing, so the ones that do, catch them off gaurd. lol
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Old 04-09-2008, 10:43 AM   #16
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Old 04-09-2008, 10:44 AM   #17
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Old 04-09-2008, 10:50 AM   #18
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LoL, I never disclose the buy rate. Thats insane. But, if they DEMAND on seeing it, I'll show it as to not look a fool.

I almost lost a deal doing that. Maxing their rate out on their 800 FICA. They went to Chase and blew me away.
people w/ 800's know what kinda rates they can get, and to try and max their rate is insulting them.........lol
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Old 04-09-2008, 11:03 AM   #19
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Arturo.....

Within the last few months...here who has been giving the best rates.

USAA
State Farm
Credit Unions

And if you have really strong credit, believe it or not, Chase has been giving some crazy low rates. Which surprises me.

Depends on the year of course.

You can always go with Capital One as well.

any credit unions in specific? im looking at a 99 cobra but its in tucson so i wanna get a good deal for out of state purchase
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Old 04-09-2008, 11:05 AM   #20
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i don't know about other CU's but JSC has some pretty good rates IMO

http://www.jscfcu.org/rates/rates.html

and for a car more than 4 years old, you can probably only get a 3 year loan or less
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