[jeremyuhh]

Ready to buy an E90 M3.

I live in Southern California, near LA.

I've used Logix FCU for used auto loans. They have insanely low rates and excellent customer service, how ever they do not give out loans to independent dealership nor cars that are out of state.

The cars I have found are either at in independent dealership or out of state.

Does anyone have any experience / recommendations of where I can get a loan that suits my needs. I've googled and so far the popular ones are US Bank and MyAutoLoan. Wondering if anyone knew any local CUs that are less advertised but offer great service.

Thanks in advance.

[GATORB8]

I've never personally used them, but I see PenFed talked about all the time as offering low rates and flexible terms.

https://www.penfed.org/

IIRC, you can qualify by a small donation if you don't meet the eligibility criteria.

[DETRoadster]

I highly recommend Pen Fed. Now my situation was different than yours (New Car at BMW dealer) but I do know they offer all sorts of different packages. New cars, used, cars, etc. Give them a call. All US based, super helpful, very friendly. Cant say enough good things about them.

[DETRoadster]

Originally Posted by GATORB8

I've never personally used them, but I see PenFed talked about all the time as offering low rates and flexible terms.

https://www.penfed.org/

IIRC, you can qualify by a small donation if you don't meet the eligibility criteria.

LOL. You beat me to it. We must have been typing at the same time!

Correct on the donation. You donate $10 to their fund to support military families and that waives the requirement to be in the military. They just do it all over the phone. Within 2 days I had the loan paperwork in my mailbox and a check for $25,000.

[R3dliner]

Lightstream

[kprocivic]

Arrowhead credit union.

[jeremyuhh]

Originally Posted by GATORB8

I've never personally used them, but I see PenFed talked about all the time as offering low rates and flexible terms.

https://www.penfed.org/

IIRC, you can qualify by a small donation if you don't meet the eligibility criteria.

Originally Posted by R3dliner

Lightstream

Originally Posted by kprocivic

Arrowhead credit union.

They all offer used auto loans for out of state and indy dealerships ? Ive talked to a couple CUs that require you to live in the city they operate in.

[GATORB8]

Originally Posted by jeremyuhh

They all offer used auto loans for out of state and indy dealerships ? Ive talked to a couple CUs that require you to live in the city they operate in.

At least PenFed does. DETRoadster who referenced them above is on the opposite coast from them.

[DETRoadster]

Originally Posted by GATORB8

At least PenFed does. DETRoadster who referenced them above is on the opposite coast from them.

Yep.

[dagolfpro]

Penfed is great but you need to join an affiliated organization or be military. I used these guys and been very happy with them and their rates are very competitive.

https://www.dcu.org/loans/auto-loans.html

[86Zed]

Originally Posted by R3dliner

Lightstream

Seconded. Used them to purchase my 07 Z4M coupe with a great rate. They do not really care where the car is located (dealer, private, etc.) in proximity to you.

[dgoldenz]

PenFed is great

[c1pher]

Penfed, Navy FCU and USAA are all my go to’s. I just got my Corvette through USAA for 1.99%. My 135is is 2.49% through BMW Finance which was the same as the others at the time so just went with them.

[Yessir]

Penfed. Have two car loans through them at 1.99. no hassle and honored both loans for my m3 and gx460 as a first time customer. I do have great credit though. The rate offered through penfed was better than both BMW and Lexus.

[cxp213]

Great timing! I'm going to have to look into this as well.

[jeremyuhh]

Thanks everyone. I heard of Lightstream. I’ll check em Out. Seems like penfed is a good choice. I was under the impression USAA and NavyFed didn’t let civilian join ? Although my wife has navyfed since her dad was in the navy.

Originally Posted by Yessir

Penfed. Have two car loans through them at 1.99. no hassle and honored both loans for my m3 and gx460 as a first time customer. I do have great credit though. The rate offered through penfed was better than both BMW and Lexus.

Awesome. My credit score is 730 and rising cause I paid off 3 of my credit cards and waiting for the score to update once again.

I’m looking forn 30-35k Loan. I’m thinking my chances are good ?

[PLCZ4MC]

I recently purchase my Z4M Coupe from Atlanta Georgia and shipped here to South California. I use Penfed to finance the car. Much better deal than what the bmw dealer was offering me.

[c1pher]

Originally Posted by jeremyuhh

Thanks everyone. I heard of Lightstream. I’ll check em Out. Seems like penfed is a good choice. I was under the impression USAA and NavyFed didn’t let civilian join ? Although my wife has navyfed since her dad was in the navy.



Awesome. My credit score is 730 and rising cause I paid off 3 of my credit cards and waiting for the score to update once again.

I’m looking forn 30-35k Loan. I’m thinking my chances are good ?

When I joined NFCU only allowed you in if you served in the Navy overseas or were deployed overseas. NFCU changed the bylaws to chase more $$$ to allow more veterans from ALL services and relatives in. Just about everyone has a relative who served and can get you in now. USAA is even more open. USAA used to just be for military officers.

[Jdub679]

I have to admit, I'm a little wary of these loan companies. But I'll be honest, I don't have a good reason to be worried other than I'm not familiar with them by name. Any reason I shouldn't be worried? Aside from the lower APR, are there any other advantages these companies might provide? Do these loans usually allow early pay off without fees? Thanks.

[Yessir]

Originally Posted by jeremyuhh

Thanks everyone. I heard of Lightstream. I’ll check em Out. Seems like penfed is a good choice. I was under the impression USAA and NavyFed didn’t let civilian join ? Although my wife has navyfed since her dad was in the navy.



Awesome. My credit score is 730 and rising cause I paid off 3 of my credit cards and waiting for the score to update once again.

I’m looking forn 30-35k Loan. I’m thinking my chances are good ?

Obviously income matters too but with a 730, I think you should be approved as long as your income is sufficient. I chose Penfed because of the great reviews members here provided stating the simplicity, speediness and great rates. Needless to say, if they continue to offer great rates, I will be a lifelong customer.

And as far as penalties, Penfed has no prepayment penalties. Payoff as you please

[Alfisti]

Is it not better to just get a LOC from your bank? I have a floating one ata round 3% that I use for such matters.

[Clark_Kent]

+1 for PenFed. Was on with them this AM.