Cheap Financing
But in this case, LFS is probably the OP's best choice here, not easy beating those rates at the moment.
Dysfunctional Veteran
Joined: Sep 2004
Posts: 8,103
Likes: 319
From: Van Alstyne, TX
See my experience is their homeowners rates are terrible. I see a lot of homeowners rates, $1,320 for a house of the value of your house is way high imho. At least it would be here.
Why do you need $435k rebuild coverage? It wouldn't cost that much to rebuild that house would it? Isn't the price you're paying in the $200k range, and that includes the land. Way over insured IMHO.
Why do you need $435k rebuild coverage? It wouldn't cost that much to rebuild that house would it? Isn't the price you're paying in the $200k range, and that includes the land. Way over insured IMHO.
My last house was nearly twice that much money to insure yearly, and it was literally half as much house.
In any case, when financing a car, that brand's financial service is almost always going to end up giving you the best rate. You may have to play them off a few other banks first, but it'll happen. When I bought my truck, I was putting $25,000 cash down. Chrysler Financial wanted to give me 5% at first, I told them to stuff it, not with that down payment. I called USAA, they offered better, I called CFD back, they beat it, so I went with them. Then refinanced later to a 0.9% with USAA.
Last edited by ArmyofOne; Sep 16, 2017 at 09:05 AM.
Lead Lap
Joined: Mar 2015
Posts: 4,611
Likes: 371
From: In your head
Credit Union or FS...
Do the math, and find out it if FS matches the rate or throws in bonus cash that sometimes comes with taking them over a CU. Its all about numbers here, refinance is great, but that a variable subject to change.
Penfed is usually the big name CU thrown around with their 1.9 but i guess havent looking into them for a while
Do the math, and find out it if FS matches the rate or throws in bonus cash that sometimes comes with taking them over a CU. Its all about numbers here, refinance is great, but that a variable subject to change.
Penfed is usually the big name CU thrown around with their 1.9 but i guess havent looking into them for a while
Lexus Fanatic
Joined: May 2012
Posts: 68,839
Likes: 4,107
From: Maryland
I would encourage you to get a quote for your insurance outside of USAA. Your replacement cost is way too high.
Remember the replacement cost is just the cost of rebuilding the structure, meaning if you had a builder come in and rebuild what you have. The land remains, and the cost to build the house plus the land certainly doesn't equal nearly twice the initial cost of the house from the builder.
Get a couple quotes and see what some other insurers would charge you. $1,300 a year is the type of insurance cost I see on a 4,500 square foot $1M home here. Now, insurance there may be more than here, you have hail, tornadoes etc we don't have. But that replacement cost is way high for sure.
I see that kind of over insuring on 90% of USAA policies I see. When I encourage clients to shop elsewhere (when I can, it's very hard to get USAA customers to do that) I have never once had one who wasn't astonished by how much USAA was overcharging them.
Remember the replacement cost is just the cost of rebuilding the structure, meaning if you had a builder come in and rebuild what you have. The land remains, and the cost to build the house plus the land certainly doesn't equal nearly twice the initial cost of the house from the builder.
Get a couple quotes and see what some other insurers would charge you. $1,300 a year is the type of insurance cost I see on a 4,500 square foot $1M home here. Now, insurance there may be more than here, you have hail, tornadoes etc we don't have. But that replacement cost is way high for sure.
I see that kind of over insuring on 90% of USAA policies I see. When I encourage clients to shop elsewhere (when I can, it's very hard to get USAA customers to do that) I have never once had one who wasn't astonished by how much USAA was overcharging them.
Dysfunctional Veteran
Joined: Sep 2004
Posts: 8,103
Likes: 319
From: Van Alstyne, TX
I would encourage you to get a quote for your insurance outside of USAA. Your replacement cost is way too high.
Remember the replacement cost is just the cost of rebuilding the structure, meaning if you had a builder come in and rebuild what you have. The land remains, and the cost to build the house plus the land certainly doesn't equal nearly twice the initial cost of the house from the builder.
Get a couple quotes and see what some other insurers would charge you. $1,300 a year is the type of insurance cost I see on a 4,500 square foot $1M home here. Now, insurance there may be more than here, you have hail, tornadoes etc we don't have. But that replacement cost is way high for sure.
I see that kind of over insuring on 90% of USAA policies I see. When I encourage clients to shop elsewhere (when I can, it's very hard to get USAA customers to do that) I have never once had one who wasn't astonished by how much USAA was overcharging them.
Remember the replacement cost is just the cost of rebuilding the structure, meaning if you had a builder come in and rebuild what you have. The land remains, and the cost to build the house plus the land certainly doesn't equal nearly twice the initial cost of the house from the builder.
Get a couple quotes and see what some other insurers would charge you. $1,300 a year is the type of insurance cost I see on a 4,500 square foot $1M home here. Now, insurance there may be more than here, you have hail, tornadoes etc we don't have. But that replacement cost is way high for sure.
I see that kind of over insuring on 90% of USAA policies I see. When I encourage clients to shop elsewhere (when I can, it's very hard to get USAA customers to do that) I have never once had one who wasn't astonished by how much USAA was overcharging them.
Since I commissioned my build in 4/7, the builder has raised his base prices $45,000, and he can't build the houses fast enough. I had $20,000 in equity before they even poured my slab. My price is locked in at $285k, but if I were to commission the same build today, my base build price of $263,900 would be 45k higher, before I even start adding upgrades. Those upgrade costs, have also increased. The market here is nuts. When you consider that, plus the cost to remove debris and possibly even completely tear out the slab if it were bad enough, that figure comes in right on the money.
Dysfunctional Veteran
Joined: Sep 2004
Posts: 8,103
Likes: 319
From: Van Alstyne, TX
Anywhoo, so yeah...check LFS...Check local credit unions, often times they will be able to give you other benefits too like life insurance at a discount, etc.
Last edited by ArmyofOne; Sep 16, 2017 at 03:37 PM.
Lexus Fanatic
Joined: May 2012
Posts: 68,839
Likes: 4,107
From: Maryland
I've never seen a situation with a fire where the slab or the foundation can't be reused. I've seen a lot of home rebuilt after fires too.
You're not just $10-50k high is the thing, it's like $200,000 high.
Here's an article on the subject:
http://www.insurance.com/home-and-re...ent-cost-value
National average is $103/ square foot, how big is the house again? For $450,000 in replacement cost you should be able to replace approximately a 4,400 square foot house.
You're not just $10-50k high is the thing, it's like $200,000 high.
Here's an article on the subject:
http://www.insurance.com/home-and-re...ent-cost-value
National average is $103/ square foot, how big is the house again? For $450,000 in replacement cost you should be able to replace approximately a 4,400 square foot house.
Last edited by SW17LS; Sep 16, 2017 at 04:01 PM.
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Brett Foote
Instructor
Joined: Oct 2016
Posts: 857
Likes: 47
From: Oregon
I'd never realized auto financing could be so cheap. Would one of these outfits finance my 2010 RX after-the-fact? I paid $25K cash for it about a year ago, but if I could get a low interest rate I'd use the money to pay down a 3.5% HELOC.
On the home insurance sub-topic, here in Oregon (a suburb about 8 miles south of Portland) Amica insures our home for $300K, $1K deductible, for $600 a year. Prior to Amica a few years back we always insured with Safeco, but kicked ourselves when we discovered Amica was about two-thirds as much. Always interested to learn what others are paying in other parts of the country.
On the home insurance sub-topic, here in Oregon (a suburb about 8 miles south of Portland) Amica insures our home for $300K, $1K deductible, for $600 a year. Prior to Amica a few years back we always insured with Safeco, but kicked ourselves when we discovered Amica was about two-thirds as much. Always interested to learn what others are paying in other parts of the country.
CL Community Team
Joined: Feb 2007
Posts: 9,388
Likes: 621
From: IL
But even if you could get, say, 2.5%, I'm not convinced it'd be worth the hassle of taking out a non-deductible loan at 2.5% to pay off a tax-deductible loan at 3.5%. There would be essentially no savings.
There probably aren't a ton of lenders who will give you a loan on a vehicle you already own, free and clear. And the age will tend to drive up the rates also. For example, my CU that has the 1.99% rate posted earlier in this thread, charges 4.99% for up to 36 months on cars more than 7 years old, and 5.99% for longer loans.
Last edited by 4TehNguyen; Sep 18, 2017 at 10:21 AM.
Driver School Candidate
Joined: Jan 2020
Posts: 1
Likes: 0
From: MD
Hey guys I just joined. I would love to have some advice regarding a cheaper way for finance especially now during the pandemic. Thanks for all the advises in advance. I personally have been thinking of getting a new car for a while now and it kind of annoys me that I am currently in the situation that I am in financially-wise because of this pandemic. I have been talking with some of my friends who know a lot more about finances and they have given me some advice but I have been doing a lot of research and I was lucky enough to find this really awesome website that kind of helps you figure out how to get a loan and what you need for that.I used their info when I wanted to take out a loan for my home improvements. (You guys can check them here: https://www.moneyexpert.com/loans/ho...ovement-loans/) Hopefully they will be useful here too but a second opinion can never hurt
Last edited by seb345; Oct 4, 2020 at 04:38 AM.
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