| Doesn't that at least make DCU competitive with Mazda America, Credit (assuming
that you take their auto-deposit)? 10.9% from Mazda America and 11.5% minus
.5% (for automatic deductions) giving 11%. That's a .1% difference, which may
be worthwhile if you find writing checks and stuffing envelopes to be a pain.
Still not great, but it is closer to "real world".
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| Me, too -- I turned in my auto loan form after 3pm, and they had approval
ready before the end of the day (although they couldn't reach me until the
next day). When I called to say I had signed the P&S and wanted the money,
there was a couple of hours of telephone tag, but after I got through and
faxed over my P&S form, it was just 2 hours (counting lunch) before they
put the money in my hand. And I got to sign the forms at my local branch.
I am quite happy to have done my car loan through the DCU. Being
prequalified helped out in dealing with the car purchase, too. I don't
know if 10% is the lowest rate around, but since my bank (People's) is
charging 12%, I figured it was pretty good. My feeling is that the DCU
doesn't need to have the absolute lowest rate around -- it needs to have
among the lowest rates, and be the most convenient place to get a loan.
For this auto loan, the DCU definately fulfilled my desires.
Larry Seiler
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