Side-by-Side ~ Paying Off Our Cars

Wife lady and I paid off both our cars yesterday and we couldn't be happier. We actually did so at the same time simultaneously but at two different local money dealer withers. A stroke of luck had each of our lenders downtown and right across the street from one another. After parking we decided to split up to save a bit of time. She went to pay off her car and I to pay off mine. Unfortunately, our experiences were significantly different and I'm naming names and providing a brief side-by-side comparison below.

Employees needed to take final loan payment	1 newbie teller girl		2 tellers 1 local branch manager 1 person from their call center
Checks written for final payment	1		2 (glad I didn't need anymore 'cause those were the last two in my checkbook at the time)
Time to make final payment	5 minutes (2 min. in line, 3 with teller) (with time enough for Sarah to stand in line at Starbucks, get a drink, and chat with the barista before joining me and still having to wait a bit)		20 minutes

To be fair on my loan I never had a problem at all with Rainier over the life of it since I bought my car. The tellers that did help me were apologetic and kind. I just thought this was a unique comparison we could make that certainly doesn't happen everyday. In the end, we are now happily without two car payments and that's what matters most to me.

Comments (6) | To Top

1/4/2008 @ 11:52am

You have crossed a 'grown-up' mile marker. Go on with yo' bad self!

p.s.- Can I borrow $378????

by Sir Not-Appearing-In-This-Flim

1/4/2008 @ 2:49pm

congratulations!!

by Roxanne

1/4/2008 @ 5:42pm

I too bank at Sound CU. Paying off my car was the easiest thing in the world. Come to think of it, getting the car loan in the first place was pretty darn easy too.

by Mandi

1/6/2008 @ 3:45pm

Good show on paying off both of your cars! I did that a couple years ago (though the loan was not through a local institution, which I know would have resulted in a lower rate through my credit union). Good that you went through a local institution... I temped in the WaMu consumer loans dept and not only would you have jumped through the same hoops as you did with Rainier, there would be the 10% likelihood that you'd get a collection notice a month later because even though they signed for your certified-mailed cashier's check, they somehow misplaced it. (True.)

by TheDamnMushroom

1/8/2008 @ 11:24am

This is an excellent example of the "credit union difference." It's people helping people. There's less red tape, less bureaucracy and no shareholders to post profits to. It's all about the credit union serving you and your needs in the best possibly way.

by Mike Templeton

1/9/2008 @ 7:53pm

I work at a credit union in Seattle and I know a lot of the folks at Sound Credit Union. I can tell you - they are good people. I'm glad to see them getting some blog love because they deserve it.

Great post.

by shari storm