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  #13  
Old 12-16-2010, 09:20 AM
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Re: Financing rates?

Well I got my rate through Navy Federal Credit Union. I have been a member for over 25 years which played a big part in this as well. Thankfully my parents opened my savings account for me when I was 2.
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  #14  
Old 12-16-2010, 09:33 AM
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Re: Financing rates?

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Originally Posted by jeep2011 View Post
Well I got my rate through Navy Federal Credit Union. I have been a member for over 25 years which played a big part in this as well. Thankfully my parents opened my savings account for me when I was 2.
I just put a call in to them this morning to explore eligibility via sponsorship through family members. They are offering rates "as low as" 1.99% on their website. Not as good as 0% but pretty good. They advertise a lot here in the DC area, for obvious reasons.
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Old 12-16-2010, 09:50 AM
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Re: Financing rates?

They do have the best rates on financing. I have my house and car financed through navy fed, but I do most of my banking with USAA (better rates on checking/savings)
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Old 12-16-2010, 10:19 AM
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Re: Financing rates?

Chrysler is offering 1.9% credit for 36 and 48 month loans. Did they not qualify you for that?
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Old 12-16-2010, 10:43 AM
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Re: Financing rates?

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+1 on paying cash, the USA economy would be much better if people bought what they could afford now, not later.
What I choose or choose not to finance has nothing to do with what I can or can not afford, please don't make that leap. TVM tells me that I am better off leving my money in my current investments which will over the next few years pay for the Overland and not be reduced by removing 40k to pay for an item that depreciates the day you drive it off the lot.
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Old 12-16-2010, 10:50 AM
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Re: Financing rates?

I agree with Mashie on keeping money in investments but I'm more bewildered why NFCU would offer anyone 0% financing when they have no relationship with Chrysler? Doesn't seem like a smart move by them if they are giving away money and making nothing in return???

So good for you getting 0%, I'm jealous!
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  #19  
Old 12-16-2010, 10:54 AM
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Re: Financing rates?

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Originally Posted by jrfenway View Post
I agree with Mashie on keeping money in investments but I'm more bewildered why NFCU would offer anyone 0% financing when they have no relationship with Chrysler? Doesn't seem like a smart move by them if they are giving away money and making nothing in return???

So good for you getting 0%, I'm jealous!
Do you or somoene you are relatives with have to be in the Navy to join NFCU or can anyone join like some credit unions for a $25 fee.

If that is the case I would join, take advantage of 0% for 60mo and have the jeep completely paid off with zero interest. Thats making their money for for you
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Old 12-16-2010, 11:53 AM
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Re: Financing rates?

Well my situation is different for being a 25yr + member and having my house financed through them as well. I found out about this from my brother that received the same deal on his new outback. Both of us have a house and 25+ yrs with them.

As far as becoming a member I am not sure of the policies. My father was military so my parents opened us savings accounts when we were born. I would have been just as happy with the 1.99% since my USAA savings account makes more interest each month than that. The stars aligned for me on this deal and I couldn't pass it up.
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Old 12-16-2010, 11:58 AM
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Re: Financing rates?

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Originally Posted by Mashie View Post
Do you or somoene you are relatives with have to be in the Navy to join NFCU or can anyone join like some credit unions for a $25 fee.
I spoke to them this morning with that same question. There must be some sort of link in place but they don't seem to care how circuitous the chain is that ultimately results in you being sponsored for membership by someone in your immediate family. For instance, my brother-in-law is retired Army (btw, the service branch doesn't matter-- all are eligible), so he can sponsor my sister, who in turn can sponsor me since we are immediate family. A $5 deposit is all that is necessary to have an active account. Go to www.navyfederal.org and try the "Eligibility Wizard" to learn more. Seems like a little cajoling of family members and possibly ponying up of their $5 deposit as a deal sweetener is all that's required.
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  #22  
Old 12-16-2010, 03:19 PM
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Re: Financing rates?

I had a few options.... AAA rate was 2.99 for 60 mo. USAA got it down to 2.79 for 60. The dealer found me a 2.34% rate for 60, which I was happy with =)
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  #23  
Old 12-16-2010, 06:44 PM
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Re: Financing rates?

My philosophy is that if I'm willing to do a 60 month loan, save for 5 years then pay cash. Then while you own keep saving the payment. If you do it right you are only saving once and making interest/gains on the saved money. Nothing beats paying cash IMO.
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  #24  
Old 12-16-2010, 06:47 PM
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Re: Financing rates?

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+1 on paying cash, the USA economy would be much better if people bought what they could afford now, not later.
Sounds pretty ignorant. I think I am helping the USA economy by buying an brand new car and knowing that I can make my monthly car payments. I have a mortgage and credit cards too, but I make sure it all fits into a budget.
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