Usaa

[DeadCactus]

Thinking of switching my banking and insurance to them. I see some old threads hear that have nothing but good to say about them. Just wanted to confirm that the general concensus has not changed in the last year or two.

Is the $25k at 2% loan for new officers still around?

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[NavyCy]

I've had nothing but good experiances with USAA and I have all of my banking and insurance with them. The only thing to remember is that USAA doesn't have actual branch offices.

I don't know if the career starter loan has changed in the past 4+ years, but when I received mine, the bulk of the loan was financed through USAA so I was required to change my banking to USAA. I'm pretty sure the loan is still around as I've heard numerous people talking about it, but I can't give you any details.

Addendum: Apparently USAA allows check deposits based on scans or photos via Iphone so you don't have to mail the checks to TX anymore.

 

[dwb8p]

They jacked the 25k loan up to like 3.9% or higher now as of this past July. Not as good of a deal, but still nice if you need to buy a car or something out of necessity.

 

[chemist157]

I've had nothing but good experiances with USAA and I have all of my banking and insurance with them. The only thing to remember is that USAA doesn't have actual branch offices, so cashing checks and things like that take a little longer. I kept my Navy Federal account active while I was overseas which allowed me to cash checks without having to mail them to TX.

I don't know if the career starter loan has changed in the past 4+ years, but when I received mine, the bulk of the loan was financed through USAA so I was required to change my banking to USAA. I'm pretty sure the loan is still around as I've heard numerous people talking about it, but I can't give you any details.

USAA has an iphone app (and they're working on one for the blackberry) where you can take a picture of your endorsed check, front and back, and it deposits into your account without having to mail it in. You just tear the check up. It's really cool.

 

[SirGecko]

USAA has an iphone app (and they're working on one for the blackberry) where you can take a picture of your endorsed check, front and back, and it deposits into your account without having to mail it in. You just tear the check up. It's really cool.

Or you can scan it in on their website.

 

[xmsr3]

Thinking of switching my banking and insurance to them. I see some old threads hear that have nothing but good to say about them. Just wanted to confirm that the general concensus has not changed in the last year or two.

Is the $25k at 2% loan for new officers still around?

I recently spoke to reps from USAA about this. Here's the info you want.

Yes new officers can get the $25K career starter loan within a year of getting commissioned. The APR is now 5%, which is higher than it was but still a fantastic deal, (no bank will give you a personal loan with that low APR).

The monthly payment is $475/month for 5 years.

In order to get the money you need to set up a checking and saving account with them. The money is transferred to your checking account within 3 days of being approved for the loan and you start paying it back 90 days after starting OBC.

The nice thing about the loan is that you can get it 90 days before you report to OBC. So for those entering USUHS in 2010, you can get the loan in mid to late march and start making payments in September.

P.S the $30K loan at 2% is for people coming out of ROTC or the academies.

P.S.S USAA has been ranked #1 for customer satisfaction for several years in a row.

 

[NavyCy]

Or you can scan it in on their website.

I guess I'm behind the technical revolution. I've updated my post to remove the potentially misleading information. Thanks for the update.

 

[DocArmy]

As far as insurance, I haven't filed a claim with them, but they have better coverage than lots of companies. They cover your stuff IN your car. They also cover your apartment in case of flood. If you ask (I did with allstate) most don't and won't cover flood in an apartment.

They have been great to deal with. Cheap too.

 

[TheGoose]

They jacked the 25k loan up to like 3.9% or higher now as of this past July. Not as good of a deal, but still nice if you need to buy a car or something out of necessity.

or if you want to pay off student loans racking up at 8%

 

[Jolie South]

I've had nothing but good experiances with USAA and I have all of my banking and insurance with them. The only thing to remember is that USAA doesn't have actual branch offices.

I don't know if the career starter loan has changed in the past 4+ years, but when I received mine, the bulk of the loan was financed through USAA so I was required to change my banking to USAA. I'm pretty sure the loan is still around as I've heard numerous people talking about it, but I can't give you any details.

Addendum: Apparently USAA allows check deposits based on scans or photos via Iphone so you don't have to mail the checks to TX anymore.

Scan/photo deposits are not available in all states. I live in TX and I guess it's somehow against state law. I have to mail my checks in the deposit envelopes that they provide. It saves me a trip to the bank but the funds aren't immediately available.

That's the only issue I've had with USAA since switching. Their customer service is awesome and I like having all my insurance and banking in one place.

 

[DeadCactus]

Scan/photo deposits are not available in all states. I live in TX and I guess it's somehow against state law. I have to mail my checks in the deposit envelopes that they provide. It saves me a trip to the bank but the funds aren't immediately available.

That's the only issue I've had with USAA since switching. Their customer service is awesome and I like having all my insurance and banking in one place.

Good to know. That sucks, but I have checks to cash so rarely these days I guess it's not a major issue. Still would have been cool to do the iPhone thing though...

 

[Jolie South]

Good to know. That sucks, but I have checks to cash so rarely these days I guess it's not a major issue. Still would have been cool to do the iPhone thing though...

Yea, that was one of the reasons I joined USAA. Then, when I tried to scan one in, I couldn't access that feature on my accounts page. A message popped up indicating that I couldn't scan checks in my state.

 

[BigNavyPedsGuy]

As far as insurance, I haven't filed a claim with them, but they have better coverage than lots of companies. They cover your stuff IN your car. They also cover your apartment in case of flood. If you ask (I did with allstate) most don't and won't cover flood in an apartment.

They have been great to deal with. Cheap too.

They're insurance is great. I have their renter's insurance (about $20/month) A power surge tanked my (2.5 year old) computer and I got $500 toward a new one. My bicycle was stolen (despite being locked to an iron railing on my porch) and they gave me $500 toward a new one.

In medical school, by car was rear-ended at a stoplight. I had a different company, but the other guy had USAA. Within 2 business days I had a check in hand.

 

[SirGecko]

Scan/photo deposits are not available in all states. I live in TX and I guess it's somehow against state law. I have to mail my checks in the deposit envelopes that they provide. It saves me a trip to the bank but the funds aren't immediately available.

That's the only issue I've had with USAA since switching. Their customer service is awesome and I like having all my insurance and banking in one place.

That's interesting. I know that when my brother was going to school in Texas it worked for him. He was a resident of New Mexico at the time though so maybe that is why it still worked?

 

[xmsr3]

Doesn't the military require one to set up direct deposit for their pay at the beginning of OBC? Does USAA not work with direct deposit?

In regards to their auto insurance, are they typically cheaper than their competition?

 

[grotto]

Doesn't the military require one to set up direct deposit for their pay at the beginning of OBC? Does USAA not work with direct deposit?

In regards to their auto insurance, are they typically cheaper than their competition?

The military basically forces you to take direct deposit (not doing so would be such a pain in the ass that the option effectively doesn't exist) and that is a big part of why USAA is such a successful corporation. USAA takes direct deposit just like every other bank in the world. In fact, setting up a direct deposit account is a requirement to take that career starter loan (unless things have changed since I got mine in 02). USAA, or any bank for that matter, wants you to set up direct deposit.

While you don't get paid until the 1st or the 15th of the month, DFAS (basically the DoD accounting firm) actually sends direct deposits to your bank about a week to 4 days prior. USAA holds that money until it is disbursed to your account and can earn interest on your money before it is in your account, where if you were to deposit a payroll check, the funds would be available to earn interest for you immediately. No, you don't earn much interest in 4 days, but multiply that by a million customers all getting paid on the same day, twice a month and it definitely aids the bottom line - the whole "time value of money" thing for all those econ majors out there...okay, there probably aren't a lot of econ majors here. It doesn't really matter of course, because you are going to get paid on the 1st and the 15th one way or the other.

That being said - USAA is almost a requirement for deploying military personnel - deposit@home is how I have been cash everything an has effectively replaced any need for a bank branch, and their web billpay is an easy way to manage bills while you are overseas. The reimburse your account for any fees associated with using an ATM (HUGE overseas). Their rewards program for credit cards is awesome and they have low CC rates - you should probably only use credit cards overseas for protection and the best exchange rate anyway. The customer service is second to none (just press 0 when you call and go right to a rep) and their insurance is the best in the business although slightly more expensive than other options.

The weak link in the chain is probably there investment side, but they do have a good Precious Metals fund that I invest in which has been posting up to 23% gains for the last few years during a down market.

Navy Federal is a good option if you want a branch and usually has better loan terms for autos and whatnot - which is why I maintain an account with them. They aren't as savvy on the internet though, and their website sucks (last time I checked). I don't know if there is any "Army Federal" or something like that, but there may be.

 

[SirGecko]

The military basically forces you to take direct deposit (not doing so would be such a pain in the ass that the option effectively doesn't exist) and that is a big part of why USAA is such a successful corporation. USAA takes direct deposit just like every other bank in the world. In fact, setting up a direct deposit account is a requirement to take that career starter loan (unless things have changed since I got mine in 02). USAA, or any bank for that matter, wants you to set up direct deposit.

While you don't get paid until the 1st or the 15th of the month, DFAS (basically the DoD accounting firm) actually sends direct deposits to your bank about a week to 4 days prior. USAA holds that money until it is disbursed to your account and can earn interest on your money before it is in your account, where if you were to deposit a payroll check, the funds would be available to earn interest for you immediately. No, you don't earn much interest in 4 days, but multiply that by a million customers all getting paid on the same day, twice a month and it definitely aids the bottom line - the whole "time value of money" thing for all those econ majors out there...okay, there probably aren't a lot of econ majors here. It doesn't really matter of course, because you are going to get paid on the 1st and the 15th one way or the other.

That being said - USAA is almost a requirement for deploying military personnel - deposit@home is how I have been cash everything an has effectively replaced any need for a bank branch, and their web billpay is an easy way to manage bills while you are overseas. The reimburse your account for any fees associated with using an ATM (HUGE overseas). Their rewards program for credit cards is awesome and they have low CC rates - you should probably only use credit cards overseas for protection and the best exchange rate anyway. The customer service is second to none (just press 0 when you call and go right to a rep) and their insurance is the best in the business although slightly more expensive than other options.

The weak link in the chain is probably there investment side, but they do have a good Precious Metals fund that I invest in which has been posting up to 23% gains for the last few years during a down market.

Navy Federal is a good option if you want a branch and usually has better loan terms for autos and whatnot - which is why I maintain an account with them. They aren't as savvy on the internet though, and their website sucks (last time I checked). I don't know if there is any "Army Federal" or something like that, but there may be.

That is the whole reason I first set up an account when I was in ROTC.

 

[Jolie South]

That is the whole reason I first set up an account when I was in ROTC.

How do the fees get refunded? I just used my ATM card for the first time and noticed the charge was still there.

 

[NavyCy]

How do the fees get refunded? I just used my ATM card for the first time and noticed the charge was still there.

You will still get charged when you withdraw money, however on the last day of the billing cycle, any ATM surcharges will be refunded to your account. In addition any rebates that you earned on your debit card purchases (currently 1/2% for each dollar spent) will be credited to your account. Both of these refunds will be individually listed on the first page of your statement as well as in the account activity page online.

I do all my banking online also, but like Grotto, I maintain an account at Navy Federal. I don't have a scanner so I use Navy Federal to cash any random checks that I might acquire.

One more benefit. If you happen to be moving (a likely scenario in the military) and you want to buy a house USAA offers a program that will direct you to local agents/brokers who are specially trained to work with military families. You also can get cash back or points toward your mortgage rate. I haven't personally used this service, but my coworkers have and speak highly of the service they received.

 

[xmsr3]

The military basically forces you to take direct deposit (not doing so would be such a pain in the ass that the option effectively doesn't exist) and that is a big part of why USAA is such a successful corporation. USAA takes direct deposit just like every other bank in the world. In fact, setting up a direct deposit account is a requirement to take that career starter loan (unless things have changed since I got mine in 02). USAA, or any bank for that matter, wants you to set up direct deposit.

While you don't get paid until the 1st or the 15th of the month, DFAS (basically the DoD accounting firm) actually sends direct deposits to your bank about a week to 4 days prior. USAA holds that money until it is disbursed to your account and can earn interest on your money before it is in your account, where if you were to deposit a payroll check, the funds would be available to earn interest for you immediately. No, you don't earn much interest in 4 days, but multiply that by a million customers all getting paid on the same day, twice a month and it definitely aids the bottom line - the whole "time value of money" thing for all those econ majors out there...okay, there probably aren't a lot of econ majors here. It doesn't really matter of course, because you are going to get paid on the 1st and the 15th one way or the other.

That being said - USAA is almost a requirement for deploying military personnel - deposit@home is how I have been cash everything an has effectively replaced any need for a bank branch, and their web billpay is an easy way to manage bills while you are overseas. The reimburse your account for any fees associated with using an ATM (HUGE overseas). Their rewards program for credit cards is awesome and they have low CC rates - you should probably only use credit cards overseas for protection and the best exchange rate anyway. The customer service is second to none (just press 0 when you call and go right to a rep) and their insurance is the best in the business although slightly more expensive than other options.

The weak link in the chain is probably there investment side, but they do have a good Precious Metals fund that I invest in which has been posting up to 23% gains for the last few years during a down market.

Navy Federal is a good option if you want a branch and usually has better loan terms for autos and whatnot - which is why I maintain an account with them. They aren't as savvy on the internet though, and their website sucks (last time I checked). I don't know if there is any "Army Federal" or something like that, but there may be.

Speak of the devil, I am an econ major.

As to the Navy Federal Credit Union (any military member can join by the way), they do indeed seem very good, especially their cash back credit card, a Visa that offers 1% back on the first $10,000 spent in a year, then 1.5% back on everything over that (best cash back card I have found). Since I am planning on having 1 primary card and 1 backup, and putting all my living expenses on it, (making sure to pay off the entire balance each month and using the card for only convenience and to keep track of expenses) the cash back can be substantial.

For example, if you spend $50K/year in living expenses, that's $700 back.

Now regarding USAA, does anyone here know anything about their car buying service? I tried to get more info but I am not yet a member and you need to log in. The car buying service seems very highly rated, (4.62/5 by 62 reviewers) and they claim they can save you up to $5500 or so on the MSRP.

Has anyone here ever used this service? Is it as good as they make it out to be? If you choose to go with it are you forced to accept a USAA auto loan to finance the car or can you use Navy Federal for that?

 

[clanafanatic09]

I recently spoke to reps from USAA about this. Here's the info you want.

Yes new officers can get the $25K career starter loan within a year of getting commissioned. The APR is now 5%, which is higher than it was but still a fantastic deal, (no bank will give you a personal loan with that low APR).

The monthly payment is $475/month for 5 years.

In order to get the money you need to set up a checking and saving account with them. The money is transferred to your checking account within 3 days of being approved for the loan and you start paying it back 90 days after starting OBC.

The nice thing about the loan is that you can get it 90 days before you report to OBC. So for those entering USUHS in 2010, you can get the loan in mid to late march and start making payments in September.

P.S the $30K loan at 2% is for people coming out of ROTC or the academies.

P.S.S USAA has been ranked #1 for customer satisfaction for several years in a row.

I am currently in Air Force ROTC.

Will I be able to take the loan out if I plan on attending medical school?

 

[xmsr3]

30K for ROTC!

That is great for me, lol!

If I plan on attending medical school am I still allowed to take out the 30K loan? and if so... i wouldn't have to pay it back until school was over correct...

Thank you.

Don't know if you can get the loan, I'd call and ask. There is a chance that it is for those doing ROTC who graduate and then begin serving on active duty. At least that is the sense I got but I didn't really inquire into the $30K loan once I found out I was ineligible, (but then again I did civilian undergrad).

 

[clanafanatic09]

Don't know if you can get the loan, I'd call and ask. There is a chance that it is for those doing ROTC who graduate and then begin serving on active duty. At least that is the sense I got but I didn't really inquire into the $30K loan once I found out I was ineligible, (but then again I did civilian undergrad).

No worries, bro.

Thank you though. You are extremely helpful throughout this section of the forum.

 

[MTGas2B]

Joined USAA in 2001 after starting med school, HPSP. Has been my primary bank since. Its been great. I haven't used deposit at home yet, but the envelopes have never been a problem, other than the wait. The other option is that they make it pretty easy to link your USAA accounts to other bank accounts, allowing you to deposit at you local bank, and transfer to USAA when it posts.

Insurance has been good. Haven't had to file a claim, but a good deal.

I would join as soon as you can, and at least start with the banking.

 

[DocArmy]

I am currently in Air Force ROTC.

Will I be able to take the loan out if I plan on attending medical school?

No, you can't. You have to be 90 days from going AD to get the loan. You are IRR during medschool (hpsp) so you can't do it until the middle of 4th year. If you go to USUHS, then you might? If you're AD at usuhs. Don't know for sure though.

 

[bogatyr]

Scan/photo deposits are not available in all states. I live in TX and I guess it's somehow against state law. I have to mail my checks in the deposit envelopes that they provide. It saves me a trip to the bank but the funds aren't immediately available.

That's the only issue I've had with USAA since switching. Their customer service is awesome and I like having all my insurance and banking in one place.

I live in Texas and regularly use the deposit@home. I've never had a problem.

I am concerned that since USAA has greatly relaxed their membership requirements their rates and customer service will worsen.

 

[xmsr3]

No, you can't. You have to be 90 days from going AD to get the loan. You are IRR during medschool (hpsp) so you can't do it until the middle of 4th year. If you go to USUHS, then you might? If you're AD at usuhs. Don't know for sure though.

Since you are active duty at USUHS you can get the loan if you are going there. In fact you can get the loan up to 3 months before starting OBC and you don't have to make any payments until 3 months after starting OBC.

I would check with USAA to be sure, but I think that you can get the loan if you're doing HPSP because you have to be 90 days away from AD status, which you have at OBC.

So for those matriculating in fall of 2010, HPSP or USUHS, our OBC is mid June-July 2010. So call USAA in march (that's when they told me to call) to set up a checkin account, (if you don't have one already) and you should be able to get the money 3 business days after they authorize you for the loan, (after a credit check).

You'll have the money in your USAA checking account and can use it for 6 months before you start making the payments of $475/month for 5 years.

Of course during HPSP your net stipend, ($2K/month but its taxable) is $1600 so $475/month might not be doable for you.

BUT FEAR NOT! You have the $20K signing bonus which is at least $15K after taxes, with which you can pay off debts, buy a car or invest.

 

[Jolie South]

I live in Texas and regularly use the deposit@home. I've never had a problem.

I am concerned that since USAA has greatly relaxed their membership requirements their rates and customer service will worsen.

Seriously? I may just call them about this then. I've never been able to access it.

 

[eflix]

When I called them they told me that to use Deposit@home, I needed to have a loan or insurance product with them, so that may be also why some of us don't have it.

 

[Pemberley]

Now regarding USAA, does anyone here know anything about their car buying service? I tried to get more info but I am not yet a member and you need to log in. The car buying service seems very highly rated, (4.62/5 by 62 reviewers) and they claim they can save you up to $5500 or so on the MSRP.

Has anyone here ever used this service? Is it as good as they make it out to be? If you choose to go with it are you forced to accept a USAA auto loan to finance the car or can you use Navy Federal for that?

I don't know the answer to this yet, but my husband and I will most likely be buying a new car and using this service within the next few months. It's the first new car either of us has ever bought, and we both detest the very idea of haggling and doubt we'd be any good at it, so we're hoping this is as good a service as it sounds. I'll try to remember to tell you afterward how it went.

USAA is awesome for everything else I've ever used them for (and I have almost everything through them), especially their customer service.

 

[notdeadyet]

USAA is awesome for everything else I've ever used them for (and I have almost everything through them), especially their customer service.

Ditto this ^^^. I've been with my home bank for over 15 years and joined USAA just to take part in their new officer loan. When trying to do a wire transfer, my home bank screwed the pooch and for a while no one was quite sure where the money was (I'll keep my home bank anonymous, but it's name rhymes with Skank of Numerica).

USAA couldn't have been more helpful or done more to go the extra mile. Every step of the way, you call and feel like you're talking to an actual person, not digging through a dozen layers of automated customer service. I ended up using them as my primary bank now and couldn't be happier.

 

[ftrflyr29]

Now regarding USAA, does anyone here know anything about their car buying service? I tried to get more info but I am not yet a member and you need to log in. The car buying service seems very highly rated, (4.62/5 by 62 reviewers) and they claim they can save you up to $5500 or so on the MSRP.

Has anyone here ever used this service? Is it as good as they make it out to be? If you choose to go with it are you forced to accept a USAA auto loan to finance the car or can you use Navy Federal for that?

The car buying service is good. Detailed instructions to follow, so you don't ask more questions--wishful thinking I'm sure.

1. type: www.usaa.com into address bar
2. enter online ID and password, click "log in"
3. at this point you have a choice pick either "products & services" OR "advice & planning" from the highlighted bar about 1/4 of the way down on the page.
3a. "products & services" on right hand side in khaki colored area, under "shopping & discounts" click "learn more" under "get pre-negotiated USAA pricing on your new car purchase."
3b. "advice & planning" scroll down 2/3-ish of page to "planers & calculators," click second link in right hand column labeled "pre-negotiated new car pricing."
4. Once the "Car Buying Service" page opens, on right-hand side, choose your model and zip code, hit "search." For our example I will choose Honda, with the USUHS zip code.....I'm assuming, since you think you will be poor, I will go with a reliable brand that has some inexpensive models.
5. The next page is labeled, "choose your model." Now, I have struggled on this page, you claim to be very liberal, but also think you will be poor and are the BEST investor alive, so I have gone back and forth between the FIT and the hybrid INSIGHT.......hmmmm, what to choose...........let me think........maybe I should write more about my thought process on SDN or start a poll..............hmmmmmm.............oh, eff it--I'll go with the FIT--it's the cheapest.
6. Click on the picture of the FIT
7. Choose "style, color, options, incentives"--lots of choices, but please research this on the Honda website before creating another poll on SDN.
8. Once 7 is complete, we see we can save $671 off the base model (note: The discount you get depends on the car you select, some have much higher discounts).
9. Now hit, ""Next, locate your dealer" it's the green button about 2/3 of the was down on the right.
10. It will give you dealer information and ask for your contact information, then hit "Next"
11. The next screen will give you a printable page and will send your info off to the dealer you chose, who theoretically should contact you.


You are not bound to the price USAA gives you. You can take the printout into the dealer and see if they will negotiate with you off that. Also, check the loan rates from other places, particularly NFCU, as others have said--usually better than USAA. But, note to self, sometimes NFCU offers incentives to transfer your loan, i.e. giving you $100, so in that case, finance with USAA or anyone, then refinance at the lower NFCU rate AND get your $100. Generally, depending on the car, the USAA prices are better than what the dealers will want to negotiate, so a tactic you can use, if you are trading in, is negotiate their way initially and negotiate your trade-in value, THEN..........spring the USAA car price on them. If you show them the USAA price immediately, they will need to recoup their self-proclaimed "loss" and take it out on your trade-in. Now, I know you, XMSR3 are SOOOOO excited to be joining the military and USAA that you want to shout it from the rooftops, but if you need to trade a car in, it may be wise to keep your mouth shut for awhile.

 

[xmsr3]

The car buying service is good. Detailed instructions to follow, so you don't ask more questions--wishful thinking I'm sure.

1. type: www.usaa.com into address bar
2. enter online ID and password, click "log in"
3. at this point you have a choice pick either "products & services" OR "advice & planning" from the highlighted bar about 1/4 of the way down on the page.
3a. "products & services" on right hand side in khaki colored area, under "shopping & discounts" click "learn more" under "get pre-negotiated USAA pricing on your new car purchase."
3b. "advice & planning" scroll down 2/3-ish of page to "planers & calculators," click second link in right hand column labeled "pre-negotiated new car pricing."
4. Once the "Car Buying Service" page opens, on right-hand side, choose your model and zip code, hit "search." For our example I will choose Honda, with the USUHS zip code.....I'm assuming, since you think you will be poor, I will go with a reliable brand that has some inexpensive models.
5. The next page is labeled, "choose your model." Now, I have struggled on this page, you claim to be very liberal, but also think you will be poor and are the BEST investor alive, so I have gone back and forth between the FIT and the hybrid INSIGHT.......hmmmm, what to choose...........let me think........maybe I should write more about my thought process on SDN or start a poll..............hmmmmmm.............oh, eff it--I'll go with the FIT--it's the cheapest.
6. Click on the picture of the FIT
7. Choose "style, color, options, incentives"--lots of choices, but please research this on the Honda website before creating another poll on SDN.
8. Once 7 is complete, we see we can save $671 off the base model (note: The discount you get depends on the car you select, some have much higher discounts).
9. Now hit, ""Next, locate your dealer" it's the green button about 2/3 of the was down on the right.
10. It will give you dealer information and ask for your contact information, then hit "Next"
11. The next screen will give you a printable page and will send your info off to the dealer you chose, who theoretically should contact you.


You are not bound to the price USAA gives you. You can take the printout into the dealer and see if they will negotiate with you off that. Also, check the loan rates from other places, particularly NFCU, as others have said--usually better than USAA. But, note to self, sometimes NFCU offers incentives to transfer your loan, i.e. giving you $100, so in that case, finance with USAA or anyone, then refinance at the lower NFCU rate AND get your $100. Generally, depending on the car, the USAA prices are better than what the dealers will want to negotiate, so a tactic you can use, if you are trading in, is negotiate their way initially and negotiate your trade-in value, THEN..........spring the USAA car price on them. If you show them the USAA price immediately, they will need to recoup their self-proclaimed "loss" and take it out on your trade-in. Now, I know you, XMSR3 are SOOOOO excited to be joining the military and USAA that you want to shout it from the rooftops, but if you need to trade a car in, it may be wise to keep your mouth shut for awhile.

Thanks for the info ftrflyr29 and thanks for the instructions I laughed my ass off reading those. I won't have a trade in when I buy my Honda Fit, so shouting from the rooftops won't be an issue but its nice that you know me so well.

 

[Jolie South]

When I called them they told me that to use Deposit@home, I needed to have a loan or insurance product with them, so that may be also why some of us don't have it.

I have renter's and car insurance with them. I also applied for a car loan that I'm actually going to take.

Doesn't make sense that I don't have it.

 

[i want out]

I have used USAA for a couple of car loans now, and would definitely use them again.

More important than who your loan is from when buying a car, is knowing how the process works.

Don't Get Taken Every Time: The Ultimate Guide to Buying or Leasing a Car, in the Showroom or on the Internet (Paperback) By Remar Sutton

is the book you need to get and read.

its an easy read, and will tell you what you need to know about the games that they are going to play to try to get as much money out of you as possible.

If you have a few thousand to waste, then don't bother reading it, but if you want to win, then read the book.

good luck

i want out(of IRR) 'but I don't want out of USAA'

 

[Jolie South]

I called USAA. Deposit@Home requires an insurance policy and a lending product (credit card,etc) to work.

Guess I need to wait till I take out that auto loan in a month.

 

[SirGecko]

Huh. Interesting. My roommate couldn't get it to work. That is probably why. I wonder why they have that requirement?

 

[J-Rad]

I've got nothing but good things to say about USAA including that I was happy I was with them after and making claims from Hurricane Katrina. I think a company that can please the majority (I seem to remember most others with USAA during HK had positive experiences as well) of its customers after a mass disaster like that is a good company.

 

[Slevin]

I'm currently on the HPSP program and I read somewhere that you can apply and get the career starter loan up to 18 months before you are actually commissioned as long as you have been sworn in. Is this true?

 

[teacherman84]

I'm currently on the HPSP program and I read somewhere that you can apply and get the career starter loan up to 18 months before you are actually commissioned as long as you have been sworn in. Is this true?

Yes, not sure about 18 mos. but see post #6 above

 

[Ag2007]

Scan/photo deposits are not available in all states. I live in TX and I guess it's somehow against state law. I have to mail my checks in the deposit envelopes that they provide. It saves me a trip to the bank but the funds aren't immediately available.

not true, unless the law was recently passed and I mean recently.

The only reason I don't scan checks is b/c I don't really have room for my scanner ATM. However, I've scanned dozens of checks for usaa in texas without a problem.

Interesting note: i worked for USAA at the time and remember their corporate intranet asked employees to participate in the pilot program for this application/technology. I think it was 2006 IIRC. I didn't think it was actually going to go through b/c it seemed like it would be ripe for fraud. However, when you consider the membership, i can't imagine too many commanders being too thrilled about their subordinates writing hot checks. Actually, the now have fewer problems with check cashing than in the past. So it's been a win-win for them.

 

[Ag2007]

I'm currently on the HPSP program and I read somewhere that you can apply and get the career starter loan up to 18 months before you are actually commissioned as long as you have been sworn in. Is this true?

Call USAA and unless you get an incompetent rep, they should know about it.

It's fairly well known and advertised. If you ask for a manager, it's guaranteed they'll know about it.

 

[Ag2007]

I've got nothing but good things to say about USAA including that I was happy I was with them after and making claims from Hurricane Katrina. I think a company that can please the majority (I seem to remember most others with USAA during HK had positive experiences as well) of its customers after a mass disaster like that is a good company.

Good to hear! While I was at USAA, I worked on a project specifically for what happened with major natural disasters like Katrina for the cat (catastrophic) teams that go into the field. We completed it a few weeks before the huricane season started and Katrina hit.

It's one of those things where there's no way we could have known and the timing could not have been better.

 

[Ag2007]

Another thing, I would recommend that everyone continue to shop around and make sure USAA is offering you the most competitive rate you can get.

My parents took USAA's word for a long, long time until they raised the rates one year more than they should have. With auto insurance competition the way it is, they called around and they were able to save a decent chunk of change ($450 per premium) by going with Progressive while getting MORE coverage.

Right now I have USAA auto insurance b/c they offered me the best rate. But, I can't guarantee that in six months or a year I will continue to go with USAA. I like competition and saving money.

(Note: my parents had no traffic violations or insurance claims and USAA still wanted more than some competition).

 

[DocArmy]

Yes, not sure about 18 mos. but see post #6 above

As I stated before, HPSP students must be 90 days from going on active duty to get the loan. 90 days. That's 90 days from the end of your 4th year. You will not be on active duty until you graduate and are not eligible until then.

Feel free to call them, but that's what I was told when I called them. The career starter loan is designed for new accessions coming on active duty from ROTC or one of the academies. After receiving the loan, they automatically take out the monthly payments (something in the $500/month range). So, not really ideal for a med student anyway.

 

[Jolie South]

not true, unless the law was recently passed and I mean recently.

The only reason I don't scan checks is b/c I don't really have room for my scanner ATM. However, I've scanned dozens of checks for usaa in texas without a problem.

Interesting note: i worked for USAA at the time and remember their corporate intranet asked employees to participate in the pilot program for this application/technology. I think it was 2006 IIRC. I didn't think it was actually going to go through b/c it seemed like it would be ripe for fraud. However, when you consider the membership, i can't imagine too many commanders being too thrilled about their subordinates writing hot checks. Actually, the now have fewer problems with check cashing than in the past. So it's been a win-win for them.

I posted a correction to that a few posts back.

It's because I don't have a loan with them yet.

 

[Ag2007]

I posted a correction to that a few posts back.

It's because I don't have a loan with them yet.

Oh, ok . I tend to read quickly I definitely skimmed the bulk of it.

 

[TheGoose]

As I stated before, HPSP students must be 90 days from going on active duty to get the loan. 90 days. That's 90 days from the end of your 4th year. You will not be on active duty until you graduate and are not eligible until then.

why couldn't you consider it being 90 days before OBLC, or any of your ADT rotations? You're active when at training or on rotations. Does usaa make a specific exception that would preclude you from doing it that way?

 

[The White Coat Investor]

Another thing, I would recommend that everyone continue to shop around and make sure USAA is offering you the most competitive rate you can get.

My parents took USAA's word for a long, long time until they raised the rates one year more than they should have. With auto insurance competition the way it is, they called around and they were able to save a decent chunk of change ($450 per premium) by going with Progressive while getting MORE coverage.

Right now I have USAA auto insurance b/c they offered me the best rate. But, I can't guarantee that in six months or a year I will continue to go with USAA. I like competition and saving money.

(Note: my parents had no traffic violations or insurance claims and USAA still wanted more than some competition).

Two things matter to me with insurance-

1) The price

2) The service

After talking with the company that did the repairs on my home after some water damage, I won't switch away from USAA.

My service for several auto claims is equally good.

They do some of my life insurance, all my property/auto insurance, all my liability insurance (except malpractice), and amost of my banking (although none of my investing).

You could do a lot worse than USAA.

 

[Ag2007]

Two things matter to me with insurance-

1) The price

2) The service

After talking with the company that did the repairs on my home after some water damage, I won't switch away from USAA.

You're right.

However, San Antonio had a terrible hail storm that damaged many of the homes in the neighborhood my parents lived in back in the early 90's. Every other homeowner on the street was getting their entire roofs replaced with the help of their homeowners insurance. However, my parents fought tooth and nail with USAA who kept insisting that it could be repaired. These homes were all made of the same material with the same homebuilder. It's stasticially impossible that somehow our house avoided the same doomed fate of the 15+ homes within a 500 yard radius of our house. My parents eventually won out and got USAA to cover the bill as what should have happened in the first place. This was their first and only claim with USAA in their 30+ years with the company.

USAA lost a class action lawsuit or two during my time there. More often than not, you don't hear about it and have to dig around to find this out.

Again, I caution every one to shop around. USAA is a great company, but like I said, be careful. They do a lot of things awesome, but they're an insurance company just like everyone else.

Full disclosure, I do have insurance on several things through USAA, but I still shop around.