Has anyone used People First to buy a car? I'm curious of your experience.. please share.. I was reading about that "Blank Check" deal they have and was curious to see if anyone here actually used it before...

Got my loan thru them and no complaints...yet. They seem to have the lowest rates so far. I'm qualified for 4.89% for 72 mos. USAA might get me a little lower, something like 4.69%. Either way, not too bad.

Do a search, I know a couple of others on this board are using them.

I see.. have you used the loan already or just holding the check until your car comes?

The cool thing about them is I'm pre-approved at this low rate and they'll hold the check for something like 90 days (you have to reconfirm after 45) at the rate I applied for. I even called them once to quickly redo my loan amount at a lower rate they offered. When my car comes in, I ask them to send the check and BAM! I drive off with my RX-8 with hopefully no issues.

Cool.. I read here that some dealers dont like these online loan check things.. I wonder how many dealers dont dig it..

I've gotten the "blank check" from Peoplefirst 3 times and actually used it once (the other two times the dealer gave me a better loan rate). It was easy, and it takes away some of the pressure when you're negotiating -- makes it much more difficult for the salesman to try to pull a fast one on you with the financing.

Cool.. I read here that some dealers dont like these online loan check things.. I wonder how many dealers dont dig it..

I'm not sure, but it would be awesome if my dealer can beat one the rates offered by People First or USAA. Maybe that's why they don't like it, it's more difficult for the dealer banks to beat.

I had a People First car loan. Best rates at the time and I had no problem at all with them. Set up auto draft no problem, worked flawlessly. Courteous on the phone. Payed it off early - no problem.

I think I had a "blank check" too.

If you like the rate, don't be afraid to use them. ;)

I had a great experience with PeopleFirst.com (http://www.peoplefirst.com). Very fast, very easy. My experience with them was with a used car. Your borrowing amount is based solely on your credit not what type of car your buying, so their great for cars that are worth more then blue book (i.e. collector or highly desirable cars).

Applied last night, got approved this morning, went thru Costco, you get .25% less. My rate is 4.04% for 5 years.

I'm reading you need to use the Automated Payment in order to get the lowest rate.. am I right?

Not sure, but we were planning on using auto payments anyway, its more practical.

do they tell you how much the monthly payment will be??

Yes, there is a calculator online.. the great thing about it is that you can request a bigger amount, say 35K, simply as a cushion because your loan will be only what you write the check for.

I hope it's as good as it looks..

Rate 4.04 %
Monthly Payment $553.04
Total of Payments $33,182.24
60 Months.

I assume that is with 0 down Nut?

People First dont ask for any down.. it's up to you.. if you do put a down that will be at your dealer.. in that case your loan amount would be less..

Basically they give you a blank check to do whatever you please.. check it out.. looks like a solid deal.

Originally posted by RX-Nut
People First dont ask for any down.. it's up to you.. if you do put a down that will be at your dealer.. in that case your loan amount would be less..

Basically they give you a blank check to do whatever you please.. check it out.. looks like a solid deal.

yeah i tried different amounts witht he calculator sounds liek a great deal. though i think i will still lease to get the lower monthly payment. but at least it gives me a good ball park fiugre and i think i will be able to afford it!

Yeah, I'm certianly going to go with PeopleFirst.com Thru Costco of course. Save that extra .25%

It a good thing to do, because it gives you something to deal with the Dealers financing. If the dealer can beat the financing then I'll probably use the dealer then.

Where at Costco do you save .25? I see the same rates at People First..

If you go to the website and click services you find it there, or you can just click this link.

http://www.peoplefirst.com/pff/landing_costco.cfm

If your an Executive Member you save .35%

Hmm.. that's where I went and see the same rates as People First site..

Also, I see Execs get .10 off.. not .35..


Hmm am I missing something?

Here are the current rates that are at People First.

37/60 month rate APR

4.29% / 4.04% =.25% savings

As you can see they are currently .25% higher at the people first website.

Also Costco Executive member do save .25%+.10% =.35% off the People First Website price.

Because the rates are .25% lower than the People First Website.

People First Rates (http://www.peoplefirst.com/pff/site_auto_rates_terms.cfm)

Oh I see what you mean.. the rate is 4.29 if u dont do it online and go mail/fax/phone.. Sorry all I saw was the 4.04 @ People First.. didnt bother to check the * note.

Originally posted by RX-Nut
Oh I see what you mean.. the rate is 4.29 if u dont do it online and go mail/fax/phone.. Sorry all I saw was the 4.04 @ People First.. didnt bother to check the * note.

No, the rate is 4.29% if you go online with direct payment, it's 4.49% if you don't.

That's why if go thru the Costco/People First it's 4.04% if you go thru Costco online with direct payment.

Ah, yes. Very nice!

And it says if you spend the extra $55 to join as an Executive Member, you get an additional .10% off. That's $55 well spent, I'm sure.

Thanks!

Click here. (http://www.peoplefirst.com/pff/landing_costco.cfm)

:D

Well the site must be changing constantly cuz I saw 4.04 at People First, now it's 4.09.. Then I saw 4.04 at Costco and now it's 3.84.

DAMN time to lock it in!

Damn, I locked in yesterday, but got 4.04

Ya, I'm afraid to do mine now at 3.84 (3.74 Costco).. If it goes any lower that'll suck.. hahahah.

But hey, 3.74 is damn good already aint it?

I do not see .25 off, I am getting 3.84 directly thru peolpefirst web site am I missing something????? as of 6-11-03

Hmm.. you too eh.. It seems to change person to person.. ODD!

3.74%, 3.84%...

Reality check here, at $30,000 for 60 months, an 0.10% difference in your rate means only $81.28 OVER THE ENTIRE LIFE OF THE LOAN. Chill out -- that's not much of a difference.

Hahahha tru dat

I went to PeopleFirst.com last night to fill out an online form, but after I saw the field for Social Security number, I got concerned and read their privacy notice. They will provide any of the information you supply on their forms to every Tom, Dick and Harry that'll pay for it. Can you say "Identity Theft"? I backed out of that form and ran the opposite direction!

I don't think this was their policy before they got the bought out by Capital One (you know, the ones with the annoying commercials).

I think I'll just go thru my credit union.

I saw the field for Social Security number, I got concerned and read their privacy notice. They will provide any of the information you supply on their forms to every Tom, Dick and Harry that'll pay for it

Thanks for paying attention to details khoney. I was going to give them a shot at my business, but like you I will just head to my Credit Union I joined a year ago, for the sole purpose of getting a new car loan when the time came.

Thanks again!

There is a check box to decline giving the info to third parties in the application.

The costco discount is .25% less than peoplefirst.com rates for every % in the charts. Pull up www.peoplefirst.com and click on "check loan RATES". Then, also, www.costco.com - click on "services" in the costco home page, then, "auto financing". You should then be able to put the two comparable charts side by side like I did. Every number in the Costco chart is exactly .25% less than the one at peoplefirst.com site.

At the bottom of the costco chart, it says that executive rates are .10 less. That means that if you join as an executive member ($55 more membership fee), your rates will be .10 less (than the rates in their chart), or, .35% less than peoplefirst.com's regular rates.

Geez.

I doubt if their privacy policies are any worse than any other source. I may be wrong, make sure you're right before you throw away money someplace else with a higher rate. Neither of these companies are fly-by-night. Deny their permission to divulge your private information to outside interests, then rake them over the coals royally if you can prove they violated your order. This goes for any other company that you must provide such info, including credit unions...(my credit union rate is 4.75% currently for up to 72 months - if you qualify for this lowest rate. It can go as high as 13.50% if your credit history sux enough.)

Thanks Racer-X, For being even more clear on the subject.
I tried explaining it clearly. I thought I had, but I guess some people just couldn't figure it out.

Originally posted by Digisan
There is a check box to decline giving the info to third parties in the application.

Sorry, Digisan, but you are mistaken. I went back and reviewed the web page, and there is no such animal. Maybe they have one after you press the SUBMIT button (I did not do so), but by then it's too late - your info has already been provided to them. The fine print under the submit button reads as follows:

"By clicking the "submit" button below, you certify that all of the statements in this application are true and complete and are made for the purpose of obtaining credit. You authorize PeopleFirst to share the application and related information with its lending partners in order to complete the processing of this application. You authorize PeopleFirst and its lending partners to retain and rely on this application, and to obtain additional information, including credit reports. In addition, you acknowledge your receipt of our privacy notice, which is always available for your review at www.PeopleFirst.com/pff/site_privacy_index.cfm"

If there truly was a checkbox, I would have used them, but having known victims of identity theft, I think I'll pass. A word to the wise... doling out your social security number to parties that don't protect it by default is like leaving the keys to your RX-8 hanging from the lock cylinder.

I was talking about dealers. They will not give up your SSN. I have a Capital One card now, no problems with it for many years. If you go to a dealer to get financing they give out your info to a bunch of lenders to get you the best rate, it's nothing new. You are being sold!!!

Originally posted by Digisan
I was talking about dealers. They will not give up your SSN. I have a Capital One card now, no problems with it for many years. If you go to a dealer to get financing they give out your info to a bunch of lenders to get you the best rate, it's nothing new.

My point exactly. I don't have a problem with it if I have an opportunity to specify that my information is not to be shared. Unfortunately PeopleFirst doesn't give me that opportunity.

You are being sold!!!

Tell that to the identity theft victims who spend years trying to clear their record that someone else destroyed. I'm sure they'll have a stronger response than I will...

And for those who choose not to remain ignorant on the matter...

http://www.consumer.gov/idtheft/

http://www.privacyrights.org/

http://www.idtheftcenter.org

I am well aware what ID theif is all about, and in most cases, it not being stolen from a Website like Peoplefirst.com. It most cases it someone working at a location, Doctor, Medical, Resturant/waiter, Insurance, credit card agency. That your ID is easily stolen. I don't think Peoplefirst.com would be succesful if they were making it easy to have your ID stolen.
If you really are paranoid that it will be stolen, then you should never have a credit card, and never go to the doctor, nor buy a car for that matter. If someone really wants to steal your ID, it's really not that hard. You just have to be careful and monitor your credit. That's the safest thing to do.

I was a potential victim for ID theft when that big ID theft bust went down in, where was it, NJ I think? My name was on that list of those thousands of other people who had their SS #'s stolen, as well. Those guys got ahold of my info. through TRICARE, a military insurance company. Someone had either hooked them up with the info (from inside the company) or they hacked into their inadequite security system.

What was recommended to me was to get a credit report and alert all the credit reporting agencies (the big three; equifax and the other two). They put you on some alert status for some period of time and monitor what's going on with your credit. If anything suspicious happens, they let you know immediately.

Originally posted by rxtreme
I was a potential victim for ID theft when that big ID theft bust went down in, where was it, NJ I think? My name was on that list of those thousands of other people who had their SS #'s stolen, as well. Those guys got ahold of my info. through TRICARE, a military insurance company. Someone had either hooked them up with the info (from inside the company) or they hacked into their inadequite security system.

What was recommended to me was to get a credit report and alert all the credit reporting agencies (the big three; equifax and the other two). They put you on some alert status for some period of time and monitor what's going on with your credit. If anything suspicious happens, they let you know immediately.

Me too. If you were ever in the military then 10s of thousands have access to your info.

anyone can get anything now adays with everything on a harddrive thats hooked up to a network of any kind.

Now that our cars are here I thought I would activate this thread again. Got my approval yesterday for 60 months @ 3.64%
through Costco. I dont think that the dealer will be close to
that. Now lets get ready to have some fun driving.:) :) :cool:

Executive membership, right?

My figures point to a conclusion about using Costco. The savings you get don't make up for the annual membership fees, either regular or executive. So, unless you plan on using Costco for other things, don't go there for your loan. Go straight to PeopleFirst.com for 3.99% (3.49% for up to 36 months).

That's not a knock on Costco or people who use Costco. That's just how I see the numbers add-up.

hey guys, I thought you might want to check out www.carbuyingtips.com (http://www.carbuyingtips.com) they have great info on buying a car and how to buy smart and the right way, the first time! Peoplefirst.com is definately one of the best loan sites on the net.

Just got approved for 3.64% at PeopleFirst for a $36,000 loan over 60 months - I am a Costco Executive member. Monthly payment was $657. But I will probably lease instead...

I applied as well, but I would prefer the lease as well... more attune with my interests, as I'll get bored after three years.

If any of you financed through PeopleFirst or have a "check waiting" and you made your application in early june or before, be sure to call them abck as there are lower rates available now. I was able to drop mine by 1/4% yesteerday. i originally was approved June 9th. I know it's only a 1/4% but it adds up. Also, i found out that if you arrange your pepolefirst loan through Costco, you get another 1/4%. Check it out.

I've got an application pending with them. Unfortunately, I've run into problems with online financing and have got rejected by 4 out of 5 banks! Basically, I have had an impeccable credit record for 10 years (moderate use of credit cards, never missed or had a late payment). Then about 2 months ago, my secondary card (which I only use a few times a year) changed banks from First USA to Bank One and I either never recieved the bill or inadverantly threw it out ( I get like 5 credit card solicitations a day living in a garden apartment complex). Once I found out about it, I paid the entire balance of principal and interest and I have no other debt. Still, this (along with a couple of higher than normal bills in the last few months due to non-recurring expenses) knocked my credit score to 714. In addition, I make a pretty good salary.

At the time (and still) the balance in my bank account exceeded the bill by like a 15:1 margin, so it wasn't a "credit or solvency issue." If you added my investment portfolio (which qualifies as "liquid assets" in their applications), the idea of me not being able to pay becomes downright laughable. The only offer I got was 5.49% from Synergy Bank, which is quite high.

Its amazing how they screw you for one mistake. Its even more amazing how simplisticly they evaluate credit risk on a loan. Its amazing how many loans are given to true high risk candidates. No wonder they banks have had so many defaults in the last few years.

If I don't get a good offer, I'm just going to increase the down-payment and shorten the loan until the total interest is close to what it should have been with a lower interest rate.

I was approved this Saturday for a PeopleFirst loan @ www.peoplefirst.com for 3.49%, 36 months. Took about an hour of my time, mostly waiting a little while for their phone call.

Costco didn't figure-out for me:

At 3.24% - regular membership rate - would have saved me a sum of $31.80 for 12 monthly payments ($2.65 per) which is less than the regular $45 annual membership fee.

At 3.14% - executive membership rate - would have saved me a sum of $44.52 for 12 monthly payments ($3.71 per) which is less than the executive $100 annual membership fee.

So, not planning to use Costco for anything else, I just went straight thru PeopleFirst.

The numbers might work differently for different loans I suppose. The PeopleFirst online calculator makes this comparison easy enough to do.

Anyway, I'm happy...;) ...yessir!

Using Costo is only worth it if your already a member, and shop there a lot. It's basicily a bonus for Costco shoppers. Not something you join just to get a lower rate. If it availible and your going to use peoplefirst.com go through Costco just to get a little bit lower rate.

Originally posted by Racer X-8
I was approved this Saturday for a PeopleFirst loan @ www.peoplefirst.com for 3.49%, 36 months. Took about an hour of my time, mostly waiting a little while for their phone call.

Anyway, I'm happy...;) ...yessir! Yessir! I'm very happy with that 3.49%. I used the "Blank Check" last night when I picked-up my RX-8!!!:D

Their rates just went up. The 3.49% is now 3.75%

I got a better rate with Chase than Peoplefirst.