Credit union for used car loan?

Submitted by EmotionalFruit6 t3_114xxz7 in boston

Looking to take out a small loan ($6k-$8k) for a used car. Any good local credit unions to consider? Reasonable rates, good customer service, etc. Any to avoid?

*Edit: not DCU because I don't qualify :(

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Spurs_are_shite t1_j8yu9ij wrote

DCU

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EmotionalFruit6 OP t1_j8yz3lc wrote

Looks like I don't qualify for membership. Bummer.

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easterdaythrowaway t1_j8zk82h wrote

FYI if I recall correctly you can join any one of their Participating Organizations as a member (eg Reach out For Schools for $10) which will allow you to join DCU. So basically $10 to join DCU. It’s all spelled out on the oage listing their member eligibility overview.

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Dre852 t1_j8zkzrc wrote

I don't think you need anything to qualify. I just walked in and applied for a car loan and opened a checking account at the same time. It was easy and the rate was great.

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dante662 t1_j91an8t wrote

It's a national CU, but Alliant.

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I've used them for years. In order to qualify, you have to "promise" that you made a $5 donation to a charity. I think you can pick which charity...and honestly, they don't even verify you did it.

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But it's fantastic for every day checking/savings. A decent APR on the checking account, the savings rate is competitive with the big online high yield places like Ally, and they refund $25 worth of ATM fees each month (fees are deposited the next business day after the charge, too).

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If you use their "car buying service" they'll knock half a percentage point off your rate.

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-Odi-Et-Amo- t1_j91h8cf wrote

I had a smooth transaction with Direct Federal Credit Union for a car loan.

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Dontleave t1_j8za4zd wrote

City of Boston Credit Union.

Avoid Tremont Credit Union they’re not bad but they’re also not great either

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peanutbuttersmack t1_j8zwj6c wrote

I had great experience with Tremont CU. Best rates around. Fast and easy to deal with.

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Dontleave t1_j90g295 wrote

Interesting, when I looked a few years ago their rate was the same as Capital One and as far as their checking and savings accounts go I got much better rates from both city of Boston credit union and Capital One. Maybe it’s time to check them out again, I’m going on info from 3-4 years ago

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