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I am getting 3.69% APR from my credit union and Subaru/Chase is 3.49%APR. Just going by APR Subaru seems a tad better deal (not much $3-4 a month diff).


I am leaning towards Credit Union although it may be more of a hassle, but part of me feels the less I deal with dealers the better it is (no offense intended to Carl and Jason, who are superb people. wish they were in Bay Area).



However, are there any reasons for choosing one over the other?
 

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Subaru financing is done through Chase Bank. I financed my '15 Outback thru Subaru and that's where the loan was. In addition, if you try and get a quote from Chase now, they will say they have an agreement with Subaru. I can't answer your question but I talked to my salesmen on Tuesday and told him that I was looking at credit union financing because I can find it for 2.99% for 72 months. He was all about talking with his finance people and seeing if they could help/make that deal happen. Not sure if that is just because they want to help or what because I can't see them getting anything out of the deal. I will go with where I can find the best rate when financing an expensive car like this.
 

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I am getting 3.69% APR from my credit union and Subaru/Chase is 3.49%APR. Just going by APR Subaru seems a tad better deal (not much $3-4 a month diff).


I am leaning towards Credit Union although it may be more of a hassle, but part of me feels the less I deal with dealers the better it is (no offense intended to Carl and Jason, who are superb people. wish they were in Bay Area).



However, are there any reasons for choosing one over the other?

I don't know if it will be the same for you, but I was told that the 3.49% promotional rate with Chase was only good for a 48-month finance term. If that big monthly payment does not sit well with you, more the reason to go with the credit union, that is assuming the credit union rate is good for 60-month+ term.
 

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Subaru financing is done through Chase Bank. I financed my '15 Outback thru Subaru and that's where the loan was. In addition, if you try and get a quote from Chase now, they will say they have an agreement with Subaru.

That, btw, doesn't mean that the dealer can't negotiate other terms with Chase for you... see below.

I can't answer your question but I talked to my salesmen on Tuesday and told him that I was looking at credit union financing because I can find it for 2.99% for 72 months. He was all about talking with his finance people and seeing if they could help/make that deal happen.
So, I was in a similar situation, except it was Capital One who gave be a decent rate and at 72 months (something that is not being offered on the standard Subaru-Chase program). My dealership said the same thing. They came back with a better rate at 72 months (it doesn't beat the 3.49%, my credit isn't in the excellent bracket required, but it did beat Cap One's rate by 0.2%).

The rate and 72 month term was from Chase as Subaru Auto Finance. So, while you and I and others may not be able to negotiate a loan directly through Chase, it does seem that at least some of the dealerships can get Chase to do loans outside of the standard program.

My dealership also tried two other lenders, btw.

Can't hurt to try - especially since they have a bit of clout with the banks they work with, which can help.
 

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I would suggest to shop more credit unions and their rates. You can find their rates online for almost all of them. The reason I'm saying is you could find the lowest one from others. For my area the rates are between 2.49 - 3.69 for the 60 months term.
 

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Im in ny long island i got 2.7% for 5 years i been Customer with Teachers Credit Union for 25 years
Sigh, I switched to Bethpage, after years of being a TFCU member. Even with as many years with Bethpage, they said no, even though I offered $18k down-payment.
 

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I managed to get 2.99% for 5 year at a local credit union. Not sure where you are located, but my rates were for Washington State.
 

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Sigh, I switched to Bethpage, after years of being a TFCU member. Even with as many years with Bethpage, they said no, even though I offered $18k down-payment.
I keep money in several credit unions and banks on long island. Just enough so I am not charged fees, but it also makes it look like I have been a customer for a long time.
 

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@SubieDad: what credit union in Wa did you find this rate.

I am in Wa too and could only find 3.19 in BofA for preferred account.

My local credit union could not match it.

Thanks.
White River Credit Union in Enumclaw. It's a small credit union in the sticks but it was easy to open an account. Unfortunately they are old school so you have to open an account in person.
 
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