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comnav79
Contributor

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.

 

comnav79

USAF Retired and over 40 years with USAA