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Discussion Starter · #1 ·
Thanks all for reading. So in full transparency, I am financing a lot as I am putting down 10k. I have great credit and found 3.74 interest rate. Thoughts?

I pick up the car in Sweden 24th June but the dealer wants me to go sign paperwork next week. When do I start payment?

TY
 

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Your car note will tell you when the first payment is due. Typically, it is 30 to 45 days after you sign the finance contract.
 

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My delivery was 10-OCT-18. I went in 30 days before to do my paperwork and make payment. My first payment was end of Oct because the money went to Volvo at the end of Sept. Make sure you aren't paying for the car this early - there is no need to do that or you will be starting your payments in 30 days.
On the rate, I went in with decent financing from USAA. I was putting 30% down and with that down payment Volvo Finance beat the USAA rate by .25%. The dealers initial rate offer was much higher, but on the day we met they came way down once they saw my rate and down payment. They wanted the business.
 

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There have been multiple threads posted re financing. Make sure that your lender is ok with waiting for a title, for that can take some time on an OSD. Suggest that you at least check Volvo Finance's rate as they get how OSD works.
 

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Discussion Starter · #5 ·
Who do I contact for Volvo financing? My dealer uses two companies that are ok with the delay in the title.

So to be clear, if delivery is the 24th June (Sweden) I should do paperwork around 20th May? The car won't arrive until Aug. but I realize I need to pay at delivery.
 

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You need to have financing in place for whenever your dealer requires you to pay for the car - typically 30 days prior to delivery. The August arrival date stateside is only relevant to getting title in the hands of the lien holder e.g. Volvo financing. Frankly, I would avoid all of the hassle with titles etc and get an unsecured loan from Lightstream (if you qualify). Search other threads about financing in this sub-forum before asking more - there's a ton of info there ... good luck.
 

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Try penfed credit union. Anyone can join (there is a small membership fee < $20) and I confirmed with them that OSD was possible. They said that as long as they get the title within 45 days of funding the loan, everything should be good. They also have very competitive rates. I didn't end up doing OSD but the rates arent different between OSD vs non-OSD. In October of last year, the 3 year new car rate was 2.49% - best I could find.
 

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Try penfed credit union. Anyone can join (there is a small membership fee < $20) and I confirmed with them that OSD was possible. They said that as long as they get the title within 45 days of funding the loan, everything should be good. They also have very competitive rates. I didn't end up doing OSD but the rates arent different between OSD vs non-OSD. In October of last year, the 3 year new car rate was 2.49% - best I could find.
PenFed would be great for a refinance but not the original loan for OSD since it will be way more than 45 days before you get a title.
 

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PenFed would be great for a refinance but not the original loan for OSD since it will be way more than 45 days before you get a title.
Penfed used to give like 5 or 6 months for title... they changed it to 45 days? Sometimes that’s not even enough for regular non-osd local purchases.
 

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If you have good credit, I can recommend LightStream.
https://www.lightstream.com/new-car-loan

That's who I financed my OSD through. I have good credit so they were able to send the money to me without a title at all. As far as the dealership or anyone else knows, I just paid cash. As such, my title only has my name on it... no lien holder. It also did not negatively impact my credit report. Lightstream will match or beat rates on approved loans. A lot of folks started off getting a loan approval (not pre-approval) from PenFed and then went to LightStream for that little extra better rate.

I've been really happy with LightStream.
 

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I'm probably wrong on that. I just went back and looked at my e-mails from them. I was asking how long I had to get the car titled after funding for factory order and they said 30 days. But when I was considering OSD, I know I asked the question about overseas delivery and they said it would be no problem.
 

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I am picking up my OSD on May 20th. We financed the car through Penn Fed for 36 months at 2.49%. The difference in the monthly payment by then going to Lightstream was just a few dollars per month and, as we will likely pay the loan off early, not worth the additional credit pull and effort. We are happy with Penn Fed.
I don't know how the issue of 45 days for receipt of title came up. That is not true. Penn Fed is fine with the length of time it takes for a typical OSD vehicle to reach the States and be titled at the local dealership. However, today (April 8th) they requested the VIN # in preparation for mailing the check to me to take to the dealership next week to pay for the car. One month from the date they mail the check to me my first payment will be due. I hope this info clarifies things a bit.
 

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+1 on Lightstream. Very fast, easy process. Got competitive quote from Agilent, which Lightspeed beat to finally land at 3.10 for 60 months.

No title hassle. Would do it again in a heartbeat. Good luck!
 

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Penfed used to give like 5 or 6 months for title... they changed it to 45 days? Sometimes that’s not even enough for regular non-osd local purchases.
I would go to their website and check out their rates. (www.penfed.org) We used them and they were great. At that time the title had to be produced within 150 days......call them, they are easy to work with. It may have changed since 2016, but it's worth checking out!
 

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I would go to their website and check out their rates. (www.penfed.org) We used them and they were great. At that time the title had to be produced within 150 days......call them, they are easy to work with. It may have changed since 2016, but it's worth checking out!
It didn't change. It is not 45 days. I mentioned that I would have the title by mid-August (paying for car mid April) and they were fine with that plus the VIN#.
 
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