Financial Issues

[ryann04]

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Can someone tell me the Pros and Cons between USAA and Navy Federal? I heard to get insurance through USAA and car loans/banking through Navy Federal. Home loans possibly neither. Direction please.

 

[elderjack21]

Can someone tell me the Pros and Cons between USAA and Navy Federal? I heard to get insurance through USAA and car loans/banking through Navy Federal. Home loans possibly neither. Direction please.

USAA farms out their home loans,so I wouldn't go with them for that. But all of their other services have been outstanding and they have amazing customer service and competitive rates in banking.

I can't speak to Navy Federal, but have been very pleased with USAA over the last 6 years.

 

[LauraDO]

USAA farms out their home loans,so I wouldn't go with them for that. But all of their other services have been outstanding and they have amazing customer service and competitive rates in banking.

I can't speak to Navy Federal, but have been very pleased with USAA over the last 6 years.

I agree with this. USAA is wonderful to work with. I have my home owners insurance through them, my car insurance, bank account, savings account and a credit card, so I have worked with all areas. They go out of their way to make sure you are a satisfied customer and offer great interest rates on savings account and credit cards

 

[NavyFP]

Can someone tell me the Pros and Cons between USAA and Navy Federal? I heard to get insurance through USAA and car loans/banking through Navy Federal. Home loans possibly neither. Direction please.

I do all my insurance through USAA. My mortgage was via USAA, but do most of my banking with Navy Fed.

Both are excellent organizations.

 

[The White Coat Investor]

USAA farms out their home loans,so I wouldn't go with them for that.

They haven't farmed mine out in the last 2 years. The OP might also consider Pentagon Federal for a credit card and auto loans.

 

[BomberDoc]

USAA farms out their home loans,so I wouldn't go with them for that.

Agree with you on this. I did a previous mortgage with USAA and for the first time ever was disappointed with them. Maybe the individual I worked with was a douchebag, but the experience soured me on USAA for any future mortgages. I still use them for banking, brokerage, insurance.

 

[Jolie South]

anyone done their auto loan with them?

i need to refinance in about a year and am trying to check on things now.

 

[elderjack21]

anyone done their auto loan with them?

i need to refinance in about a year and am trying to check on things now.

Have done two auto loans with them. They are outstanding just like they are with everything else.

As for their loans being farmed out, I guess what I meant to say is that they hook you up with a lender and do not actually loan you the money. The lenders they use "uphold the same high standards" that USAA does, or so they say. I just wasn't comfortable with being set up with a company that I didn't know...I may as well use lending tree or something for that.

But everything else is great with USAA...and their home loans may be great as well. I was able to find a better deal on home loans at a local credit union.

 

[BomberDoc]

I was able to find a better deal on home loans at a local credit union.

I did a quarter percentage better on my loan rate from a local bank as compared to USAA. It pays to shop around.

 

[Heeed!]

anyone done their auto loan with them?

i need to refinance in about a year and am trying to check on things now.

I've had multiple car loans with USAA and one with Pentagon Federal. All of them have gone smoothly...but you just can't beat the customer service at USAA. No wonder it's #1. They operate the way businesses should operate re: customer care.

 

[BomberDoc]

you just can't beat the customer service at USAA. No wonder it's #1. They operate the way businesses should operate re: customer care.

Agree... minus the one less than ideal experience when mortgage shopping. USAA still rocks and it would be foolish not to bank with them.

 

[elderjack21]

They operate the way businesses should operate re: customer care.

The military could take some huge pointers from them.

 

[futrdvm]

i've been a usaa member since i was 16 (thanks, daddy) and i couldn't agree more that they are fan-tabulous!!
i haven't had any loans with them, but i have a checking, savings, iras, money markets, credit card and insurance. i've only had about 2 bad expereriences with them and when i called right back, i spoke to someone who was able to fix it each time. you just have to assume that you will eventually come across someone that doesn't know something from time to time, but overall they are great with the customer service.
i also have navy fed, and while i have no major complaints, i have found them to be not quite as helpful as USAA. i've had a couple of minor issues lately but not enough to stop using them completely. its a secondary bank for me though, i'll use them out of convenience.