I submitted my app online and got a letter that my app was under review. About 4 hours later I received an approval letter. However I had to wait till the loan officer Kathy came back from vacation ---It was Thursday and she would not be back until Monday.
Monday Morning Kathy Nordendahl emailed me all specifics about my loan including the 4.15% interest rate.
I had to submit a copy of my DL, Proof of Insurance, MSO, & copy of signed bill of sale. No previous years tax return, w-2, or paystubs
Essex will send you the loan docs, that must be notarized....4 different signatures. My cost was $10.00 a signature. They sent the docs with a prepaid overnight Fed Ex envelope. Filling out the Costco Essex online app through Funding took 12 days, 9 of which where business days.
My Experian Consumer credit score was 755 (From Essex). Funny the dealership stated my credit score was 712 they could only get me funded at 5.9%.
4.15 vs 5.9 on $127,000 financed. Well you do the math. I would have been approved immediately at the dealer but look at the amount you save over 20 years.
The Costco Essex process was defined and everything that Kathy stated happened like clock work. I have not seen any other Bank that will finance for 20 years at 4.15% You do have to put at least 10% down and that is on the after tax, license, warranties, fees amount. The process is a bit longer but in the long run you will save a ton of money.
I read terrible reviews before applying and all I can say is Costco Essex is awesome. 5 stars out of 5. Ask for Kathy ...Tell her Wes says she is Awesome.