Lowest auto loan rates
01-19-2017, 11:33 AM
#31
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01-19-2017, 04:57 PM
#32
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01-25-2017, 07:47 PM
#33
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Great Advice adamvincent!
Applied first at Lightstream.com and was approved at 3.59% at 65 months. If you're going to follow this process with DCU, you need to make sure your loan term is identical with both lenders to qualify for the Rate Beat program at LightStream. Pretty easy process, it took all of 15 minutes.
Next, I qualified for a loan with DCU (qualification process was difficult--make sure you have last 2 years of your tax returns in PDF format to send. They keep asking for schedule A,B,C,E--it became annoying. I finally spoke to a loan officer directly and he sorted it out on the phone. If you don't ask to speak directly to a loan officer, you will get the run around from a CSR rep. DCU is a good outfit and they are meticulous. One thing to keep in mind is that you must be a DCU credit union member (easy process, just donate $5 to charity) AND to qualify for the 0.5% rate reduction you must have your employer direct deposit your paycheck into your account regularly. Otherwise, you will get a 2.24% rate. That was a deal breaker for me when they sneaked that qualifier in at the end. Otherwise, I was happy with the 1.74% rate and if lightstream balked, I would have just funded the DCU loan. Finally, you need to ask for an official approval letter via email.
Once you have the letter, simply email it to customerservice@lightstream.com and put your loan application number and "Rate Beat" in the subject line. Attach the approval letter from DCU and within 5 minutes I was approved at 1.64% for 65 months.
Lightstream will deposit the money in your account within a day or two. I was surprised that lightstream didn't balk at reducing their rate 55% from what they originally quoted me.
Again, great advice. Thanks
01-25-2017, 09:11 PM
#34
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Adamvincent, thanks for posting this information. I just secured 1.64%, 65-month financing for my Q7 with 0 down. Here's what I did:
Applied first at Lightstream.com and was approved at 3.59% at 65 months. If you're going to follow this process with DCU, you need to make sure your loan term is identical with both lenders to qualify for the Rate Beat program at LightStream. Pretty easy process, it took all of 15 minutes.
Next, I qualified for a loan with DCU (qualification process was difficult--make sure you have last 2 years of your tax returns in PDF format to send. They keep asking for schedule A,B,C,E--it became annoying. I finally spoke to a loan officer directly and he sorted it out on the phone. If you don't ask to speak directly to a loan officer, you will get the run around from a CSR rep. DCU is a good outfit and they are meticulous. One thing to keep in mind is that you must be a DCU credit union member (easy process, just donate $5 to charity) AND to qualify for the 0.5% rate reduction you must have your employer direct deposit your paycheck into your account regularly. Otherwise, you will get a 2.24% rate. That was a deal breaker for me when they sneaked that qualifier in at the end. Otherwise, I was happy with the 1.74% rate and if lightstream balked, I would have just funded the DCU loan. Finally, you need to ask for an official approval letter via email.
Once you have the letter, simply email it to customerservice@lightstream.com and put your loan application number and "Rate Beat" in the subject line. Attach the approval letter from DCU and within 5 minutes I was approved at 1.64% for 65 months.
Lightstream will deposit the money in your account within a day or two. I was surprised that lightstream didn't balk at reducing their rate 55% from what they originally quoted me.
Again, great advice. Thanks
Applied first at Lightstream.com and was approved at 3.59% at 65 months. If you're going to follow this process with DCU, you need to make sure your loan term is identical with both lenders to qualify for the Rate Beat program at LightStream. Pretty easy process, it took all of 15 minutes.
Next, I qualified for a loan with DCU (qualification process was difficult--make sure you have last 2 years of your tax returns in PDF format to send. They keep asking for schedule A,B,C,E--it became annoying. I finally spoke to a loan officer directly and he sorted it out on the phone. If you don't ask to speak directly to a loan officer, you will get the run around from a CSR rep. DCU is a good outfit and they are meticulous. One thing to keep in mind is that you must be a DCU credit union member (easy process, just donate $5 to charity) AND to qualify for the 0.5% rate reduction you must have your employer direct deposit your paycheck into your account regularly. Otherwise, you will get a 2.24% rate. That was a deal breaker for me when they sneaked that qualifier in at the end. Otherwise, I was happy with the 1.74% rate and if lightstream balked, I would have just funded the DCU loan. Finally, you need to ask for an official approval letter via email.
Once you have the letter, simply email it to customerservice@lightstream.com and put your loan application number and "Rate Beat" in the subject line. Attach the approval letter from DCU and within 5 minutes I was approved at 1.64% for 65 months.
Lightstream will deposit the money in your account within a day or two. I was surprised that lightstream didn't balk at reducing their rate 55% from what they originally quoted me.
Again, great advice. Thanks
01-26-2017, 04:26 AM
#35
AudiWorld Member
Thread Starter
I asked dcu many times for an official approval letter and they kept telling me that they did not do that. Grrrrr
Adamvincent, thanks for posting this information. I just secured 1.64%, 65-month financing for my Q7 with 0 down. Here's what I did:
Applied first at Lightstream.com and was approved at 3.59% at 65 months. If you're going to follow this process with DCU, you need to make sure your loan term is identical with both lenders to qualify for the Rate Beat program at LightStream. Pretty easy process, it took all of 15 minutes.
Next, I qualified for a loan with DCU (qualification process was difficult--make sure you have last 2 years of your tax returns in PDF format to send. They keep asking for schedule A,B,C,E--it became annoying. I finally spoke to a loan officer directly and he sorted it out on the phone. If you don't ask to speak directly to a loan officer, you will get the run around from a CSR rep. DCU is a good outfit and they are meticulous. One thing to keep in mind is that you must be a DCU credit union member (easy process, just donate $5 to charity) AND to qualify for the 0.5% rate reduction you must have your employer direct deposit your paycheck into your account regularly. Otherwise, you will get a 2.24% rate. That was a deal breaker for me when they sneaked that qualifier in at the end. Otherwise, I was happy with the 1.74% rate and if lightstream balked, I would have just funded the DCU loan. Finally, you need to ask for an official approval letter via email.
Once you have the letter, simply email it to customerservice@lightstream.com and put your loan application number and "Rate Beat" in the subject line. Attach the approval letter from DCU and within 5 minutes I was approved at 1.64% for 65 months.
Lightstream will deposit the money in your account within a day or two. I was surprised that lightstream didn't balk at reducing their rate 55% from what they originally quoted me.
Again, great advice. Thanks
Applied first at Lightstream.com and was approved at 3.59% at 65 months. If you're going to follow this process with DCU, you need to make sure your loan term is identical with both lenders to qualify for the Rate Beat program at LightStream. Pretty easy process, it took all of 15 minutes.
Next, I qualified for a loan with DCU (qualification process was difficult--make sure you have last 2 years of your tax returns in PDF format to send. They keep asking for schedule A,B,C,E--it became annoying. I finally spoke to a loan officer directly and he sorted it out on the phone. If you don't ask to speak directly to a loan officer, you will get the run around from a CSR rep. DCU is a good outfit and they are meticulous. One thing to keep in mind is that you must be a DCU credit union member (easy process, just donate $5 to charity) AND to qualify for the 0.5% rate reduction you must have your employer direct deposit your paycheck into your account regularly. Otherwise, you will get a 2.24% rate. That was a deal breaker for me when they sneaked that qualifier in at the end. Otherwise, I was happy with the 1.74% rate and if lightstream balked, I would have just funded the DCU loan. Finally, you need to ask for an official approval letter via email.
Once you have the letter, simply email it to customerservice@lightstream.com and put your loan application number and "Rate Beat" in the subject line. Attach the approval letter from DCU and within 5 minutes I was approved at 1.64% for 65 months.
Lightstream will deposit the money in your account within a day or two. I was surprised that lightstream didn't balk at reducing their rate 55% from what they originally quoted me.
Again, great advice. Thanks
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