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- Joined
- Mar 14, 2017
- Messages
- 1,880
After almost 175K miles, it has come time to replace my current car. While I wanted to hold out another 1-2 years until I collect Social Security, that is too limiting lifestyle-wise. I've picked out a Subaru Outback, 2020 or newer. Despite what various YouTubers say about a car market collapse, current used car pricing is unattractive enough that we'll probably buy new.
I'm a member of a local credit union, though they are not my primary bank. Their rate would be 5.94-6.44% for up to 66 months. Based on limited experience, I'd prefer not to move to them for our primary banking. I am eligible to join Navy Federal, and they have a nearby office, but they do not publish their rates online.
Does anyone know how Navy Federal's rates compare with others? How is their quality of service if we chose to bank with them? We have credit ratings that should qualify us for the lowest possible rates.
Subaru's current financing deal on new cars is for only 48 months at 1.9%, and that payment would be too high for our current cash flow. I also understand that any negotiation leverage on the car disappears with such manufacturer's discounted financing.
The other option, of course, is to take the 48 month loan and pay it off from a new monthly retirement account draw.
I'm a member of a local credit union, though they are not my primary bank. Their rate would be 5.94-6.44% for up to 66 months. Based on limited experience, I'd prefer not to move to them for our primary banking. I am eligible to join Navy Federal, and they have a nearby office, but they do not publish their rates online.
Does anyone know how Navy Federal's rates compare with others? How is their quality of service if we chose to bank with them? We have credit ratings that should qualify us for the lowest possible rates.
Subaru's current financing deal on new cars is for only 48 months at 1.9%, and that payment would be too high for our current cash flow. I also understand that any negotiation leverage on the car disappears with such manufacturer's discounted financing.
The other option, of course, is to take the 48 month loan and pay it off from a new monthly retirement account draw.