Attention all USAA members who are in the market for new car loans.
No kidding, my youngest daughter who is an industrial engineer with at credit score over 750, has a credit card and NO credit card debt. Annual income $55K. All her bills are in good standing. She is renting for 2 years and all in good standing.
Looking at a brand new $26,000 2019 Buick Encore and wanted to borrow $8,000. Summary, USAA approved a loan rate of 11%. Reason, she is under 25 years old.
I am a USAA member with over 40 years of coverage, both daugthers have USAA for their renters and auto insurance.
Now it's my time, shame with USAA with their auto loan policy. I love USAA website to get their best rates around 3.8%, of course their is the small print. But when a Buick dealer was able to find a loan rate 3.8% how does USAA validate 11% for the young professional.
Attention all young engineers go, run away from USAA auto loans.