NMAC Finance Rate

Caravanshaka

ya, penfeds a piece of cake, you can be approved in 10 mins and check in hand the next day. 3.99% is hard to beat

sig11

Piece of cake if you're willing to change banks and can do direct deposit.

At 4.99% with 30,000 principal you are looking at ~$820 more interest than doing the 3.99 loan. It's all about how much value you place on the bank and if the interest difference is worth that.

Caravanshaka

Umm, I didn't change banks at all. I donated the $20 to become a member, and deposited $5 into an account (minimum balance). Filled out an application and had my check in hand the next morning. No direct deposit, no bank switching. Not only that, but I ended up switching my wife's loan from a 7% chase loan to 3.99% at penfed for free.

sig11

I must have misread the terms and conditions before I completed the application. I thought there was a monthly maintenance fee on the account if you didn't have a balance of $5,000 or use direct deposit. It wasn't too big of a deal since at my bank's 4.22% rate it only would have saved me about $200.