Welcome to the North American Subaru Impreza Owners Club Tuesday September 26, 2017
Home Forums WikiNASIOC Products Store Modifications Upgrade Garage
NASIOC
Go Back   NASIOC > NASIOC General > General Community

Welcome to NASIOC - The world's largest online community for Subaru enthusiasts!
Welcome to the NASIOC.com Subaru forum.

You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, free of charge, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, so please join our community today!

If you have any problems with the registration process or your account login, please contact us.
* Registered users of the site do not see these ads. 
Reply
 
Thread Tools Display Modes
Old 07-25-2017, 11:19 AM   #1
scooter4483
Scooby Specialist
 
Member#: 71834
Join Date: Oct 2004
Chapter/Region: MWSOC
Location: western chicago suburbs
Vehicle:
2018 WRX CWP limited
05' WRX WRB (previous)

Default Any good loan rates

I will be purchasing a subaru wrx in the next month or two. Was wondering if anyone has seen good deals for 60 month or up to 65 month loans? I was leaning toward pendfed or digital credit union as DCU had 1.9% for 65 months and now see it is at 2.24%. I know Subaru will not go lower than 2.9% with Chase. Ideally, i would like 1.9% or lower.

Most other credit unions need a membership which I do not qualify for as I am not in the education or health field, and not a veteran.

Any suggestions would be great. Thanks.
* Registered users of the site do not see these ads.
scooter4483 is offline   Reply With Quote
Sponsored Links
* Registered users of the site do not see these ads.
Old 07-25-2017, 11:28 AM   #2
HeubergerMotors
NASIOC Vendor
 
Member#: 344767
Join Date: Jan 2013
Chapter/Region: RMIC
Location: 1080 Motor City Drive
Vehicle:
2006 WRX TR
Silver

Default

rates will most likely change by the time you are ready to purchase, I always recommend to all my customers to shop you local banks, find the best rate then use that to get a better rate at the dealership!

If you haven't already contacted me about a car, I would do so just to have an idea of what you should pay for a Subaru. Even if I dont earn your business I will still give you a running start on the price you should negotiate too!

Best,
Kenzie
HeubergerMotors is offline   Reply With Quote
Old 07-25-2017, 11:30 AM   #3
D-rock240
Scooby Specialist
 
Member#: 284221
Join Date: May 2011
Chapter/Region: MAIC
Location: West of Baltimore, MD
Vehicle:
2011 WRX GV SSM
2001 Legacy BH 5MT DD

Default

PenFed is good, I have my home mortgage through them.
D-rock240 is offline   Reply With Quote
Old 07-25-2017, 11:47 AM   #4
scooter4483
Scooby Specialist
 
Member#: 71834
Join Date: Oct 2004
Chapter/Region: MWSOC
Location: western chicago suburbs
Vehicle:
2018 WRX CWP limited
05' WRX WRB (previous)

Default

Quote:
Originally Posted by HeubergerMotors View Post
rates will most likely change by the time you are ready to purchase, I always recommend to all my customers to shop you local banks, find the best rate then use that to get a better rate at the dealership!

If you haven't already contacted me about a car, I would do so just to have an idea of what you should pay for a Subaru. Even if I dont earn your business I will still give you a running start on the price you should negotiate too!

Best,
Kenzie
thanks. PM sent
scooter4483 is offline   Reply With Quote
Old 07-25-2017, 11:48 AM   #5
scooter4483
Scooby Specialist
 
Member#: 71834
Join Date: Oct 2004
Chapter/Region: MWSOC
Location: western chicago suburbs
Vehicle:
2018 WRX CWP limited
05' WRX WRB (previous)

Default

Quote:
Originally Posted by D-rock240 View Post
PenFed is good, I have my home mortgage through them.
They are good as my folks have a mortgage through them but rates for cars are okay. Looking for lower.
scooter4483 is offline   Reply With Quote
Old 07-25-2017, 12:21 PM   #6
STI 2 NV
Scooby Specialist
 
Member#: 31748
Join Date: Jan 2003
Chapter/Region: Tri-State
Location: Upstate NY
Vehicle:
'18 WRX STI Limited
LBP

Default

There are some credit unions you do not need to have any special qualifications. Check a bunch out.
STI 2 NV is offline   Reply With Quote
Old 07-25-2017, 12:28 PM   #7
kdu
Scooby Newbie
 
Member#: 361819
Join Date: Jul 2013
Chapter/Region: BAIC
Vehicle:
2017 STI
CWP

Default

https://www.lightstream.com is worth looking at, it's owned by Suntrust
kdu is offline   Reply With Quote
Old 07-25-2017, 12:36 PM   #8
GEE-OTTO
Scooby Specialist
 
Member#: 201277
Join Date: Jan 2009
Chapter/Region: MAIC
Location: Arlington VA
Vehicle:
2008 08 QSM 5MT LGT
QSM

Default

I just bought a 08 Legacy GT via PenFed @ 2.14% APR over the 24 month term. I have used them for 7 years always good rates and they dont push a lot of other financial products on you (CCs, IRAs, CDs, etc.)
GEE-OTTO is offline   Reply With Quote
Old 07-25-2017, 01:12 PM   #9
Loyale93
Newbie Moderator
Moderator
 
Member#: 91347
Join Date: Jul 2005
Chapter/Region: NESIC
Location: Ord, Nebraska
Vehicle:
'13 XV Crosstrek,12
1050 Triumph Speed Triple

Default

loan rates are 100% subjective based in the area you live, the person, the car, etc. etc. etc.
Loyale93 is offline   Reply With Quote
Old 07-25-2017, 04:10 PM   #10
Jack
Add Lightness
Moderator
 
Member#: 13699
Join Date: Dec 2001
Chapter/Region: NESIC
Location: Hopkinton, MA
Default

Central One Credit Union

2 years 0.99%
3 years 1.37%
4 years 1.5%
5 years 2%
6 years 2.2%

https://www.centralfcu.com/loans/auto-loans

DCU is 2.24% now, by the way.
Jack is offline   Reply With Quote
Old 07-25-2017, 04:19 PM   #11
BURUTOO
Scooby Newbie
 
Member#: 349400
Join Date: Mar 2013
Location: Chicago, IL
Vehicle:
2015 WRX Limited
WRB

Default

Nice find Jack. Thanks for sharing!
BURUTOO is offline   Reply With Quote
Old 07-25-2017, 05:49 PM   #12
scooter4483
Scooby Specialist
 
Member#: 71834
Join Date: Oct 2004
Chapter/Region: MWSOC
Location: western chicago suburbs
Vehicle:
2018 WRX CWP limited
05' WRX WRB (previous)

Default

Quote:
Originally Posted by Jack View Post
Central One Credit Union

2 years 0.99%
3 years 1.37%
4 years 1.5%
5 years 2%
6 years 2.2%

https://www.centralfcu.com/loans/auto-loans

DCU is 2.24% now, by the way.
DCU I am aware but Central One is looking good. Thanks! I'm sure it will be one of these two that I will choose as I will be ordering car and know rates will change again in next 12 weeks when i pick up the car. Would rather apply for a loan 2 weeks before I pick up the car and know I have good credit without issues.
scooter4483 is offline   Reply With Quote
Old 07-25-2017, 06:16 PM   #13
424wrx
Scooby Guru
 
Member#: 171948
Join Date: Feb 2008
Chapter/Region: Tri-State
Location: new york
Vehicle:
08 wrx stg3 vf52
14 legacy, 11 fozzy

Default

your credit score means alot too. i personally have a 833 as of 2 days ago. im a good boy with bills and payments over the years,lol!!
424wrx is offline   Reply With Quote
Old 07-25-2017, 06:54 PM   #14
sc00ter
Scooby Guru
 
Member#: 117767
Join Date: Jun 2006
Chapter/Region: RMIC
Location: Denver, CO
Vehicle:
2014 Audi S4
APR ECU & TCU Tuned

Default

Quote:
Originally Posted by 424wrx View Post
your credit score means just about everything too. i personally have a 833 as of 2 days ago. im a good boy with bills and payments over the years,lol!!

Fixed.

I've worked hard to get up to 770 myself and still can't seem to get below the 2% threshold, no matter how many banks/credit unions I try. I had 2.66% on my '15 WRX and just recently got 2.29% on the S4. I'd love to hit that magical 800 mark, but the wife's medical school loans are absolutely destroying my debt to income ratio at the moment.

I can't freaking wait until she's done with residency. One... More... Year...
sc00ter is offline   Reply With Quote
Old 07-25-2017, 09:57 PM   #15
SoapBox
Scooby Guru
 
Member#: 204578
Join Date: Mar 2009
Chapter/Region: MAIC
Location: Philadelphia
Vehicle:
S54 E46, N54 E82,
N55 E84, AKA REX8

Default

Quote:
Originally Posted by sc00ter View Post
Fixed.

I've worked hard to get up to 770 myself and still can't seem to get below the 2% threshold, no matter how many banks/credit unions I try. I had 2.66% on my '15 WRX and just recently got 2.29% on the S4. I'd love to hit that magical 800 mark, but the wife's medical school loans are absolutely destroying my debt to income ratio at the moment.

I can't freaking wait until she's done with residency. One... More... Year...
What, no fellowship year? (I'm typing this from my $3.5k/month, 750 sq-ft apt. in Boston which I moved into this weekend with a screaming 9-month old baby for...yup...wifey's fellowship/6th year of residency). Good luck, and hopefully enjoy the fruits of her(your) labor soon!

OP: 2.x% in a vacuum is still a really, really low rate over 6 years. I'm still taking it all day every damn day.
SoapBox is offline   Reply With Quote
Old 07-26-2017, 09:44 AM   #16
sc00ter
Scooby Guru
 
Member#: 117767
Join Date: Jun 2006
Chapter/Region: RMIC
Location: Denver, CO
Vehicle:
2014 Audi S4
APR ECU & TCU Tuned

Default

Quote:
Originally Posted by SoapBox View Post
What, no fellowship year? (I'm typing this from my $3.5k/month, 750 sq-ft apt. in Boston which I moved into this weekend with a screaming 9-month old baby for...yup...wifey's fellowship/6th year of residency). Good luck, and hopefully enjoy the fruits of her(your) labor soon!

OP: 2.x% in a vacuum is still a really, really low rate over 6 years. I'm still taking it all day every damn day.
Sounds brutal! But just one more year and it will all pay off. The fellowship year usually equates to a decent salary bump. We're going to be in Boston in October for one of her conferences. Never been, so I'm excited to explore.

My wife's coming to her final conclusion on the fellowship year as we speak. She's still deciding if she wants to do a Pediatric Fellowship, which could potentially put us in Vancouver for a year. That would actually be pretty awesome and a crazy change.

However, the 2 anesthesiology groups in our area both have openings coming up and are strongly recruiting her at the moment. It would be nice to get into our next long term house and start having kids ourselves. So while I'm open to either decision, I'd be quite relieved if she accepts a job here, allowing us to move onto the next life stage.

Also, she just corrected me. Apparently it's still more like 1.5 years out.

Last edited by sc00ter; 07-26-2017 at 09:51 AM.
sc00ter is offline   Reply With Quote
Old 07-26-2017, 10:09 AM   #17
scooter4483
Scooby Specialist
 
Member#: 71834
Join Date: Oct 2004
Chapter/Region: MWSOC
Location: western chicago suburbs
Vehicle:
2018 WRX CWP limited
05' WRX WRB (previous)

Default

Thank you for the replies. 2.24% is good but like anyone, i would rather not pay any % . Either way, i will end up paying the 5 year loan in 3.5-4 years. I have other things going on in my life and would like the best rate is all.

Thank you.
scooter4483 is offline   Reply With Quote
Old 07-26-2017, 01:39 PM   #18
Abismo
Scooby Specialist
 
Member#: 99707
Join Date: Nov 2005
Chapter/Region: MWSOC
Location: Missouri
Vehicle:
2010 WRX (in spirit)
CWP

Default

Quote:
Originally Posted by Jack View Post
Central One Credit Union

2 years 0.99%
3 years 1.37%
4 years 1.5%
5 years 2%
6 years 2.2%

https://www.centralfcu.com/loans/auto-loans

DCU is 2.24% now, by the way.
try not to forget the fine print...

Quote:
New and Used Auto Loan Disclosure: Copy of purchase and sale agreement required. Rate may be adjusted for vehicle age or high mileage vehicles. Qualified borrowers with A+ or A credit may borrow up to 110% of the NADA retail value. Actual rate will be determined based on credit history, term, loan to value, and other factors. Stated rate assumes term of 24 months. Stated rate includes a 0.25% discount for Direct Deposit and Electronic Loan Payment when the payment is taken from a Central One account.
Abismo is offline   Reply With Quote
Old 07-26-2017, 03:16 PM   #19
waltersh
Scooby Newbie
 
Member#: 447706
Join Date: May 2016
Location: Greenville, SC
Vehicle:
2017 WRX Base
CWP

Default

Don't forget that your Subaru dealer can work with you on financing. I was offered 2.9% from Subaru and found a better rate (2.0%) elsewhere. I told my dealer that if they could beat it, I would finance through them. I financed my car w/ Subaru at 1.79%.

Good luck.
waltersh is offline   Reply With Quote
Old 07-26-2017, 03:47 PM   #20
BURUTOO
Scooby Newbie
 
Member#: 349400
Join Date: Mar 2013
Location: Chicago, IL
Vehicle:
2015 WRX Limited
WRB

Default

I contacted central CU but they only offer loans if you are local or have some kind of ties to Mass. bummer since those are the lower rates I've seen posted.
BURUTOO is offline   Reply With Quote
Old 07-26-2017, 04:43 PM   #21
scooter4483
Scooby Specialist
 
Member#: 71834
Join Date: Oct 2004
Chapter/Region: MWSOC
Location: western chicago suburbs
Vehicle:
2018 WRX CWP limited
05' WRX WRB (previous)

Default

Quote:
Originally Posted by waltersh View Post
Don't forget that your Subaru dealer can work with you on financing. I was offered 2.9% from Subaru and found a better rate (2.0%) elsewhere. I told my dealer that if they could beat it, I would finance through them. I financed my car w/ Subaru at 1.79%.

Good luck.
I am not sure that is possible as WRX and STI get 2.9%. My friend who got an Audi stated, she can get 1.9% from pendfed and Audi only matched it.

How likely is Subaru going to give me better than 2.9% let alone 2.24% if I show something?
scooter4483 is offline   Reply With Quote
Old 07-26-2017, 04:50 PM   #22
NutBucket
Scooby Specialist
 
Member#: 90804
Join Date: Jul 2005
Chapter/Region: SCIC
Location: SFV
Vehicle:
'15 Fozzy, '05 WRX

Default

The dealership isn't required to get you a loan through Chase/Subaru. Our Fozzy is financed through BofA. The dealership did everything. What helps is having a competitive rate to present to the finance people. Then they'll look for a comparable/lower rate because in the end they still make money selling your loan.

Come to think of it when I bought my first Subaru 12 years ago the loan ended up being with a credit union. Again, the dealership lined everything up to be the rate I could get with my credit union. However, when I bought a Honda a few years back the dealer basically declined to beat my credit union rate so I simply financed it through my CU. Those folks were dicks anyway so I was glad to not give them more money.
NutBucket is offline   Reply With Quote
Old 07-27-2017, 01:53 PM   #23
waltersh
Scooby Newbie
 
Member#: 447706
Join Date: May 2016
Location: Greenville, SC
Vehicle:
2017 WRX Base
CWP

Default

Quote:
Originally Posted by scooter4483 View Post
I am not sure that is possible as WRX and STI get 2.9%. My friend who got an Audi stated, she can get 1.9% from pendfed and Audi only matched it.

How likely is Subaru going to give me better than 2.9% let alone 2.24% if I show something?
My Subaru dealer actually went with Capital One for my financing. I could probably been more clear with that lol. I guess Subaru didn't want to budge?
waltersh is offline   Reply With Quote
Old 07-27-2017, 02:57 PM   #24
sc00ter
Scooby Guru
 
Member#: 117767
Join Date: Jun 2006
Chapter/Region: RMIC
Location: Denver, CO
Vehicle:
2014 Audi S4
APR ECU & TCU Tuned

Default

Quote:
Originally Posted by waltersh View Post
Don't forget that your Subaru dealer can work with you on financing. I was offered 2.9% from Subaru and found a better rate (2.0%) elsewhere. I told my dealer that if they could beat it, I would finance through them. I financed my car w/ Subaru at 1.79%.

Good luck.
This is actually extremely annoying. We experienced this first hand when purchasing my wife's 2016 CX-5. The dealer kept saying the best rate they could give her was like 4.5% even though she had a 775 credit score. I happened to arrive at the dealership while she was in the process of trying to work with them to get a lower rate. As soon as I walked in I heard the guy say "sorry, but that's the best we can do". She was clearly frustrated.

So I put an immediate stop to the process and called our credit union. Within 15 minutes she was approved for the loan with a 2.9% interest rate. I told the finance guy that we would be going with our own credit union instead. He disappeared into his office and low and behold, within a few minutes he was magically able to get us a 2.9% interest rate through one of their partner credit unions.

This pissed me off because he obviously could have done this from the beginning but clearly had a financial incentive to get us locked in at the higher rate with whatever their go-to bank was. He wasted over an hour of her time because of it. We said we'd be sticking with our own credit union to buy the car.

Moral of the story... always get your financing lined up with your own bank before stepping foot in the dealership to begin with.
sc00ter is offline   Reply With Quote
Old 07-28-2017, 01:02 PM   #25
JinxB
Scooby Newbie
 
Member#: 442091
Join Date: Mar 2016
Location: Central NJ
Vehicle:
2017 Impreza
Carbide Gray Metallic

Default 1.9% 75 Months

Very strange about 2.9% - since I just bought a 2017 Impreza, at Subaru dealership, Reedman Toll, in PA, 75 Months, @ 1.9%.

I had an option of 65 months or 75, both at 1.9% or 2.9% - I chose 1.9% over 75 month because I pay off my cars early anyway, so the loan w/o Early Re-Payment penalty, lower interest with an early repayment would cost me less in Finance Charges.

JPMorgan Chase financed the purchase also.
JinxB is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

All times are GMT -4. The time now is 02:58 AM.


Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
Powered by Searchlight © 2017 Axivo Inc.
Copyright ©1999 - 2017, North American Subaru Impreza Owners Club, Inc.