DR in KS

I would like to share my disappointment with my recent USAA auto loan experience.  In December of 2018, I bought a vehicle a Dodge Ram truck.  To keep the incentives I had to finance thru Chrysler Capitol.  I planned to refinance with USAA after 4 months.  (I was honest with the dealer about my plan to refinance.  The dealer asked me wait for 4 months so they would not have to pay back the incentives.  They gave me a good deal and treated me well, so I "agreed".)  When I called USAA to refinance, I wanted to put a large chunk of cash against the principal to reduce the loan amount.  I was told that couldn't be done until after they had the loan.  My loan 'officer' suggested I refinance, make the principal payment and then refinance again for the loan with the rate and terms I really wanted.  I put the plan into motion.  The first spot where USAA screwed me was with the loan rate.  On the USAA website, it listed my FICO score as 824 but when they ran my credit it suddenly was only 782, even though I was LOOKING at the 824 at THE EXACT MOMENT.  So it was now going to cost me a 1/2 percentage (now 3.49% instead of 2.99% for 36 months ) more than originally planned.  It was still a better rate than what was thru Chrylser Capitol, so I agreed.  I paid $14,000 in principal on my truck thru USAA and waited a week for the loan to be paid off and for everything to be completed at USAA.  I then called back to finance into the loan I really wanted (after following all their instructions).  This time I was quote an interest rate of 4.29% for 36 months! The owed amount was now about $23,000 (instead of the $37,000) and the listed value was $41,000.  Even after someone talking to underwriting, I was told there was nothing they could do. I really feel USAA used a bait and switch on me.  I have been a loyal USAA customer.  I have all my insurance with USAA, bank with USAA and have several investment accounts with USAA.  I have even steered my kids to USAA.  I will now be rethinking all my financial needs.  Let this be a lesson to those of you reading this.


@DR in KS, After reading your post, I can certainly understand your disappointment. Your loyalty is appreciated, and we'd hate to lose your business.  I'm sharing your post with appropriate team to ensure that your concerns are reviewed. ~DC