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 > USAA car buying service?

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Iraqvet05

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Posted: 02/14/18 01:11pm Link  |  Quote  |  Print  |  Notify Moderator

Has anyone used USAA's car buying service to purchase a pre-owned vehicle? I'll be in the market for a newer truck in a few months and plan to apply for another USAA car loan. We financed a new Explorer with them (bought with an X plan) as they had a cheap APR compared to what the dealer had offered.

When I looked at the USAA site, it appears I have to use one of their approved dealers to purchase a vehicle from if I want to use their loan service. While I don't mind this, I wonder what their "member price" is without actually requesting a certificate. If a truck is listed for $37,000 on the USAA site, any idea what I should expect as a member price? I am assuming these prices are pre-negotiated with USAA/Truecar before they let a dealer list them.


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Ductape

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Posted: 02/14/18 01:31pm Link  |  Quote  |  Print  |  Notify Moderator

Check out CostCo too.


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BurbMan

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Posted: 02/14/18 02:22pm Link  |  Quote  |  Print  |  Notify Moderator

Ductape wrote:

Check out CostCo too.


No pre-owned vehicles at Costco like OP is looking for.


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Second Chance

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Posted: 02/14/18 02:46pm Link  |  Quote  |  Print  |  Notify Moderator

Iraqvet05 wrote:

Has anyone used USAA's car buying service to purchase a pre-owned vehicle? I'll be in the market for a newer truck in a few months and plan to apply for another USAA car loan. We financed a new Explorer with them (bought with an X plan) as they had a cheap APR compared to what the dealer had offered.

When I looked at the USAA site, it appears I have to use one of their approved dealers to purchase a vehicle from if I want to use their loan service. While I don't mind this, I wonder what their "member price" is without actually requesting a certificate. If a truck is listed for $37,000 on the USAA site, any idea what I should expect as a member price? I am assuming these prices are pre-negotiated with USAA/Truecar before they let a dealer list them.


As a 36 year USAA member, I have used them for at least three car loans. Never once was I told I had to buy from and "approved" dealer. I just found the vehicles I wanted and applied for the loan. The rates are great - especially if you use the auto-pay function from your USAA checking account.

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p220sigman

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Posted: 02/14/18 08:03pm Link  |  Quote  |  Print  |  Notify Moderator

Never used a car buying service, but had a number of loans with them and checked into the buying service a while back. If you only get a loan, it doesn't matter where you buy it from. If you are going to use the car-buying serve, then you do have to go with the dealer they select, but it shouldn't really matter who you buy from since USAA is negotiating the deal. You are just paying the bottom line.

moresmoke

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Posted: 02/15/18 08:35am Link  |  Quote  |  Print  |  Notify Moderator

The car buying service (True Car) will get you an additional fraction of the APR off, but in no means is required to get a loan from USAA. I just fill out the online loan application, print out an electronic check for the dealer and go sign the papers. Only problem I have had is a dealer that didn't know what to do with the e-check. (The instructions are printed on it!)

BurbMan

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Posted: 02/15/18 10:33am Link  |  Quote  |  Print  |  Notify Moderator

Most dealers will give you a better price on the vehicle if you also finance with them since they get paid by the lender too. In that case, finance thru the dealer, wait 60 days and then re-finance with USAA and get the low rate then. The only one who gets screwed there is the dealer's lender.

pigman1

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Posted: 02/15/18 10:49am Link  |  Quote  |  Print  |  Notify Moderator

When you are buying a car (new or used) you are really involved in three negotiations. First is the price of the car. Who will give you the best deal. Second is the price they will pay for your trade in. Can you do better selling it privately and is it worth your trouble. Third is the price of the financing. Interest rate, down payment and length of financing. Finally, if you have the ability to pay cash for the car, what interest are you foregoing to pay cash. Get all the figures and find what works best for you. I've been a USAA member since 1963 and have used them for financing multiple times, but for the car I just bought, they couldn't come close. Dealer financing was the way I went this time, but next time I'll let USAA try again. You never know until the numbers are on the paper.


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Nunyadamn

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Posted: 02/15/18 12:06pm Link  |  Quote  |  Print  |  Notify Moderator

BurbMan wrote:

Most dealers will give you a better price on the vehicle if you also finance with them since they get paid by the lender too. In that case, finance thru the dealer, wait 60 days and then re-finance with USAA and get the low rate then. The only one who gets screwed there is the dealer's lender.


Only wait 60 days if you want to pay interest for 60 days.

I too have USAA for everything - except when I bought my truck, Navy Federal had better rates. Then I wanted to refinance the house - Navy Federal again had better rates (and will refinance up to 100% of the value of the house where USAA will only do 90% - I didn't go to 100% but that was nice to know).

When I bought my truck, I also used the x-plan through my work. I got more discounts by using the x-plan at the dealer and financing through the dealer. Then 1 week later I refinanced through Navy Federal. I would have done it sooner than a week but it took that long for Ford to get me in their system. It's their system, use it to your advantage.

I went away from Navy Federal a long time ago - so long ago I don't remember why. Also, don't forget about PenFed. They usually have really good rates too.


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JALLEN4

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Posted: 02/16/18 05:55am Link  |  Quote  |  Print  |  Notify Moderator

BurbMan wrote:

Most dealers will give you a better price on the vehicle if you also finance with them since they get paid by the lender too. In that case, finance thru the dealer, wait 60 days and then re-finance with USAA and get the low rate then. The only one who gets screwed there is the dealer's lender.


The dealer would get a chargeback normally in that situation. There are some agreements where the dealer is not charged back but they receive much less from the lender to begin with.

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