Nsane1
Enthusiast
I'm SOOO excited to get my 03, have been doing a lot of research on loans for the 03, and I figured I'd pass my findings on to those of you who haven't secured funds.
I'm a heavy user of bankrate.com, where I found all these. First off, my bank (BofA), where I am pretty important (so they say) offered me 7%, my credit union (UT credit union) offered me 6%. So I turned to the cheapo internet guys (who I used for my durango with a lot of success). Anyway...
I finally got my loan through the cheapest one on bankrate, 4.9, Pentagon Fed CU. In 24 hours, I was a member, and approved for 85k. I'm not affiliated with the military, I just joined the military family club ($20 tax deductible).
I checked all these low dudes out, the only 2 in the <5% camp that didn't have a 65-75k cap were PenFed, and Farm Bureau Bank. The rest (eloan, etc) all were capped.
The diff between Pen and Farm were .08%, but the Pen was 90 days, and the Farm was 30 days for fund dispersion. Also, Pen didn't have all these direct withdraw reqmnts most of the others do.
So anyway, Pen is familiar with the car now, and all this data is based on 60 month loans. If anyone else has more data, I'm sure someone will want some.
1 thing lingered in my mind, I felt I was taking advantage of them by getting in through the loophole, but being in the banking industry, we know that the CUs want a larger membership, and are constrained (due to law,and to keep their tax-exempt status) they have to restrict it. They would WANT to take everyone, they make money by loans. So anyway, since Dodge isn't giving cheapo loans (why shoudl they?! I certainly wouldn't) (even though they cut their lending rate to dealers by, if I remember, 175 basis points last month) I hope I could help.
I'm a heavy user of bankrate.com, where I found all these. First off, my bank (BofA), where I am pretty important (so they say) offered me 7%, my credit union (UT credit union) offered me 6%. So I turned to the cheapo internet guys (who I used for my durango with a lot of success). Anyway...
I finally got my loan through the cheapest one on bankrate, 4.9, Pentagon Fed CU. In 24 hours, I was a member, and approved for 85k. I'm not affiliated with the military, I just joined the military family club ($20 tax deductible).
I checked all these low dudes out, the only 2 in the <5% camp that didn't have a 65-75k cap were PenFed, and Farm Bureau Bank. The rest (eloan, etc) all were capped.
The diff between Pen and Farm were .08%, but the Pen was 90 days, and the Farm was 30 days for fund dispersion. Also, Pen didn't have all these direct withdraw reqmnts most of the others do.
So anyway, Pen is familiar with the car now, and all this data is based on 60 month loans. If anyone else has more data, I'm sure someone will want some.
1 thing lingered in my mind, I felt I was taking advantage of them by getting in through the loophole, but being in the banking industry, we know that the CUs want a larger membership, and are constrained (due to law,and to keep their tax-exempt status) they have to restrict it. They would WANT to take everyone, they make money by loans. So anyway, since Dodge isn't giving cheapo loans (why shoudl they?! I certainly wouldn't) (even though they cut their lending rate to dealers by, if I remember, 175 basis points last month) I hope I could help.
