Yes, you can! FMC loans are simple interest loans. Meaning there is no prepayment penalty, and no minimum amount of time required to maintain the loan in good standing.
If you are a veteran or have a family member who was, you can join Navy Federal CU. Their rates are still 4.74% for up to 60 months.
Check out PenFed CU. % 5.54
Thank you!! Will do.
Yes I am a vet. US Navy so NavFed is up my alley. Hahahahaha. I will check them out as well.
They were really easy. Sent me a check for "up to $xxxxxx" that could only be cashed at a dealership...and the dealer takes the check and calls them for an authorization number after we filled out the amount. Smooth and I did get the 4.74% for 60 months. They have 4.54% for 36 months, but I figured interest (earning) rates were going to exceed 4.74% in less than 5 years. CDs over 5% are now common.
My son works for ford and he told me that dealers get a kick back if you use ford credit so you could get a better deal on the vehicle. I use Ford Credit… wait a couple of months and then refinance at Navy Federal !
USAA has lower rates for military and ex military.
Absolutely. I had a 0 % loan from ford on a 22 cause that was the only incentive they offered in Nov 21. 2 months into the loan I said what’s the point and just paid it off in full. Title arrived 1 week later.
With some credit unions PAYING 5.65% interest on a 9 month CD, I'd never pay off a 0% or a 3.25% loan. As it is, I'm still making money (after taxes) with my 5.65% CD and a 4.74% car loan. NASA Federal Credit Union for the CDs....
