Found 1.99% lending for up to 72 months (California registered vehicles)

[Wsh68]

I was debating between a cash purchase a loan or a combination as a result of the increase in interest rates. I did a search and came across a rate I though too good to be true. This last week I opened the required checking and savings accounts ($5/each) and finished all the loan paperwork at www.myeecu.org (educational employee credit union located in Fresno California). I qualified because my parents are retired teachers but they said I could just donate $5 to their local PTA and qualify too. Anyway, they have a promotion ending August 31, 1.99% for up to 72 months. with money this cheap I just financed the whole Lariat ER purchase price plus tax less what I’ll be getting back in National and state refunds. I told them my truck was “in production” so the delivery may be a month or more away and they locked me for 90 days at the 1.99%. I never need to step foot in an office and they will overnight the check to me or the dealer when my truck comes in. as Far as qualifying for the loan, I do have a high credit score and all the things lenders look for with these kinds of promotions so I cannot comment on how difficult or easy it would be to qualify For others. Hope this is helpful for another buyer and hopefully good for the credit Union too.

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[jerock]

I noticed on their website that the vehicle must be titled in California.

 

[SteelTerp87]

I noticed on their website that the vehicle must be titled in California.

Thanks for catching that. Almost went down the rabbit hole of swapping my 2.99% for that.

 

[Wsh68]

I noticed on their website that the vehicle must be titled in California.

Good catch….I wasn’t thinking about that…being in Ca and all. Hope this helps those in the golden state. I updated the title to not waste anyone’s time.

 

[PiMatrix]

Thank you for that heads up. So far I found 2.99% 60 mo and 3.49 84 mo at SFCU which is ok. Anyone know what Ford Motor Corp Lightning preapproved rate is? Is there any Protect rate from back when ordered in April?

This 1.99% is excellent, give me hope there is another rate out there worth looking for. Anyone found something as good as this one for NY? Thanks in advance.


myeecu.org:

 

[JediGamerCT]

I was debating between a cash purchase a loan or a combination as a result of the increase in interest rates. I did a search and came across a rate I though too good to be true. This last week I opened the required checking and savings accounts ($5/each) and finished all the loan paperwork at www.myeecu.org (educational employee credit union located in Fresno California). I qualified because my parents are retired teachers but they said I could just donate $5 to their local PTA and qualify too. Anyway, they have a promotion ending August 31, 1.99% for up to 72 months. with money this cheap I just financed the whole Lariat ER purchase price plus tax less what I’ll be getting back in National and state refunds. I told them my truck was “in production” so the delivery may be a month or more away and they locked me for 90 days at the 1.99%. I never need to step foot in an office and they will overnight the check to me or the dealer when my truck comes in. as Far as qualifying for the loan, I do have a high credit score and all the things lenders look for with these kinds of promotions so I cannot comment on how difficult or easy it would be to qualify For others. Hope this is helpful for another buyer and hopefully good for the credit Union too.

I’m definitely going to apply - this is a better rate than my Schools First FCU.

 

[metroshot]

I’m definitely going to apply - this is a better rate than my Schools First FCU.

Hey, I just got the 3.49% 84 month loan funded this week at Schools First FCU.
First payment is in September.

EECU 1.99% rate is 72 month loan.
I should qualify as an educator in a public K-12 school district.
Will they take my 1000 mile "newish" truck as a new car loan rate ??

 

[bryan995]

Fantastic. Will apply tonight. How much down do they want?

 

[JediGamerCT]

Hey, I just got the 3.49% 84 month loan funded this week at Schools First FCU.
First payment is in September.

EECU 1.99% rate is 72 month loan.
I should qualify as an educator in a public K-12 school district.
Will they take my 1000 mile "newish" truck as a new car loan rate ??

From what I read on their website, I believe they will. Worth checking anyway!

 

[Simpso57]

This is perfect for me, I am in one of the 12 counties they serve. Just applied. I assume once I am approved and get the checking account opened I can apply for the loan?

 

[Wsh68]

This is perfect for me, I am in one of the 12 counties they serve. Just applied. I assume once I am approved and get the checking account opened I can apply for the loan?

I did the loan first actually and got an instant approval. I then started the process of opening the accounts. I didn’t want to open Accounts if they weren’t going to approve me for what I wanted. I will have my payment direct deposited from my paycheck or just ACH’d over from my other financial institutions to make the auto-pay each month. I did the same thing with DCU when they were offering 1.24% for 65 months, a few days before my payment is due an Auto ACH hits the checking account, then transfers to the loan on the pay date and I maintain a small Balance in checking and savings the rest of the time. That was 18 months ago though so this rate is pretty amazing considering where the fed has taken rates in the past year.

 

[cvalue13]

Anyone know what Ford Motor Corp Lightning preapproved rate is?

let’s just say, not 1.99% (more than double)

 

[ExCivilian]

Anyone found something as good as this one for NY?

This is the best I've found (2.29%): https://www.parsonsfcu.org/exclusive-electric-and-plug-hybrid-car-financing-program

I'm a member. I'm not sure whether they would serve NY but it's worth checking out.

 

[newF150]

This is the best I've found (2.29%): https://www.parsonsfcu.org/exclusive-electric-and-plug-hybrid-car-financing-program

I'm a member. I'm not sure whether they would serve NY but it's worth checking out.

I signed up last week and can't log in yet or otherwise have any information yet. Another poster mentioned he had to talk to them on the phone to finish the account opening.

 

[newF150]

Thank you for that heads up. So far I found 2.99% 60 mo and 3.49 84 mo at SFCU which is ok. Anyone know what Ford Motor Corp Lightning preapproved rate is? Is there any Protect rate from back when ordered in April?

This 1.99% is excellent, give me hope there is another rate out there worth looking for. Anyone found something as good as this one for NY? Thanks in advance.


myeecu.org:

Check out this thread. A lot of people posted what they've found.
https://www.f150lightningforum.com/...22-lightning-purchase-add-your-options.10349/

I believe the Ford rate is 4.99%.

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