USAA gets out of the car buying business

CashOfLegend

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Just a heads up for anyone looking to use USAA's car buying service. They no longer do it. I reached out on 11 Feb 2022 as I couldn't find it on the website and the auto reply on the search function replied with:

"USAA Federal Savings Bank has discontinued the Car Buying Service as part of an effort to simplify and streamline our business."

I know some scummier-than-average dealers still have the USAA info up. They are either way behind the times or are just using it to scam customers.

Good luck out there.


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kodiakisland

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To be clear, USAA still does car loans, you just can’t negotiate the price through them. Financing through USAA is still easy to do.
 

PleaseDontRoll

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PSA: IMO USAA is TERRRIBLE. I've been a member for over 15 years, always assumed they were giving me good rates and never shopped around (yeah, my bad). When I joined as a young officer (and the son of an officer) USAA was just the default option for...everything. It started for me when customer service had gone WAY down hill, crazy long wait times, reduced hours, etc. It made me start looking into whether I should be doing business with someone else.

I've since dumped EVERY service they offer, auto insurance down by 40%, homeowners down by 50%, credit card rates down by 7% APR, home loans at least .5% higher then competition, better savings account returns, more expensive auto loans, etc. I started telling everyone I knew about this and they've all had very similar experiences once they shopped around. Its a shame a once great service for veterans has turned into a complete sham just fleecing service members vs. the competition.

Keep in mind I'm an ideal customer (800+ credit score, no homeowners claims, 100% on time payment for 15 years, no tickets (7+ years), no auto claims (7+ years), etc) so your mileage may vary if that is not your situation.
 
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CashOfLegend

CashOfLegend

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To be clear, USAA still does car loans, you just can’t negotiate the price through them. Financing through USAA is still easy to do.
correct. Loans are still there and theystill are USAA. Theyhave just removed the car buying service. Navy Federal uses TrueCar for their service. (I am a member of both)
 

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Burnz442

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PSA: IMO USAA is TERRRIBLE. I've been a member for over 15 years, always assumed they were giving me good rates and never shopped around (yeah, my bad). When I joined as a young officer (and the son of an officer) USAA was just the default option for...everything. It started for me when customer service had gone WAY down hill, crazy long wait times, reduced hours, etc. It made me start looking into whether I should be doing business with someone else.

I've since dumped EVERY service they offer, auto insurance down by 40%, homeowners down by 50%, credit card rates down by 7% APR, home loans at least .5% higher then competition, better savings account returns, more expensive auto loans, etc. I started telling everyone I knew about this and they've all had very similar experiences once they shopped around. Its a shame a once great service for veterans has turned into a complete sham just fleecing service members vs. the competition.

Keep in mind I'm an ideal customer (800+ credit score, no homeowners claims, 100% on time payment for 15 years, no tickets (7+ years), no auto claims (7+ years), etc) so your mileage may vary if that is not your situation.
I CONCUR!
 

kahunabob

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PSA: IMO USAA is TERRRIBLE. I've been a member for over 15 years, always assumed they were giving me good rates and never shopped around (yeah, my bad). When I joined as a young officer (and the son of an officer) USAA was just the default option for...everything. It started for me when customer service had gone WAY down hill, crazy long wait times, reduced hours, etc. It made me start looking into whether I should be doing business with someone else.

I've since dumped EVERY service they offer, auto insurance down by 40%, homeowners down by 50%, credit card rates down by 7% APR, home loans at least .5% higher then competition, better savings account returns, more expensive auto loans, etc. I started telling everyone I knew about this and they've all had very similar experiences once they shopped around. Its a shame a once great service for veterans has turned into a complete sham just fleecing service members vs. the competition.

Keep in mind I'm an ideal customer (800+ credit score, no homeowners claims, 100% on time payment for 15 years, no tickets (7+ years), no auto claims (7+ years), etc) so your mileage may vary if that is not your situation.
I have my homeowners with them....But auto insurance was twice as much as my current company. I agree...not as good as they were....but still better than a lot of companies out there.
 

PrepVet

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They haven’t for a while. It was easy as hell when I used it before. It will be missed but it makes sense for them.
 

Mr_Scoutmaster

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I've heard of a lot of folks moving away from USAA, but I think I'll have to wait for a specific experience to make a switch. I just had my roof replaced due to hail claim this year and it was all easy - muuuch easier in fact than any of my neighbors who also had to work through the same claim so <shrug>. Also have done a few hail claims on the cars in the past that went fine. Might shop auto rates and see what other banks are offering for auto loan APRs when its time though and I am looking for a higher cash back card than USAA currently has.
 
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CashOfLegend

CashOfLegend

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I've heard of a lot of folks moving away from USAA, but I think I'll have to wait for a specific experience to make a switch. I just had my roof replaced due to hail claim this year and it was all easy - muuuch easier in fact than any of my neighbors who also had to work through the same claim so <shrug>. Also have done a few hail claims on the cars in the past that went fine. Might shop auto rates and see what other banks are offering for auto loan APRs when its time though and I am looking for a higher cash back card than USAA currently has.
my experience with USAA on thebanking and renters front has been positive but on auto insurance and loans they were absolutely destroyed by public options. (State Farm and Ally Finance)
 

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motocane

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Financed my Bronco through USAA at 1.89% (60mo). Was the best rate I found.

Having said that, I moved most of my business away from them 8-9 years ago after some issues with the brokerage services - I will never put my investments with them again but now have homeowners insurance with them again.
 

PrepVet

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I've heard of a lot of folks moving away from USAA, but I think I'll have to wait for a specific experience to make a switch. I just had my roof replaced due to hail claim this year and it was all easy - muuuch easier in fact than any of my neighbors who also had to work through the same claim so <shrug>. Also have done a few hail claims on the cars in the past that went fine. Might shop auto rates and see what other banks are offering for auto loan APRs when its time though and I am looking for a higher cash back card than USAA currently has.
I used Progressive for 4 months for less than a 1/3 I was paying at USAA for my car insurance. I went back to USAA when I got the Bronco as they gave me much better rates than I had for being with them for almost 20 years prior.

Also home owners insurance was more than double any of the other offerings.
 

BroncoAZ

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I’ll have to cross shop my USAA products. I’ve been with them for 25 years, the one time I tried to switch my girlfriend onto another insurance it was a bait and switch that cost us 40% more.

Financed my Bronco through USAA at 1.89% (60mo). Was the best rate I found.

Having said that, I moved most of my business away from them 8-9 years ago after some issues with the brokerage services - I will never put my investments with them again but now have homeowners insurance with them again.
USAA no longer does brokerage, they pushed that business to Schwab about 1.5 years ago. They also no longer do boat insurance, they push that to Progressive.
 

cigartexan

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All I know is when Hurricane Harvey blew down my coast house, USAA was there in 2 days and I had an automatic deposit for full replacement cost (278K) within 72 hours. I watched for for weeks on end people waiting in line at all the insurance tents setup in various parking lots around town.
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