What many people don't realize is that USAA also offers members help in other areas of their financial lives, even buying a car. The company offers many other helpful products, some of which are available to anyone, not just members of the military.
Shopping for the Right VehicleUSAA works with several automobile manufacturers so it can offer special discounts to USAA members on specific vehicles. This unique car buying service allows members to purchase vehicles at special member prices. They can shop for brand new cars or a wide range of used vehicles.Members only need to find a dealer affiliated with USAA and then ask about the cars on which they can offer deals.
USAA will make sure you get a price in writing before you ever visit the dealer's lot. You will also receive a written trade-in value for your old car. USAA members can expect to save over $4,000 off the manufacturer's suggested retail price when they purchase cars through the USAA car buying service.
Vehicle Customization OptionsThe cars members purchase through USAA are not cookie cutter standard issue vehicles. Every USAA member who uses the service has the opportunity to select custom vehicle packages on new cars. USAA offers an online service that lets members choose the type of vehicle, the colors, and the special features they want in a vehicle. Members can build a car from the ground up, with all the bells and whistles they want.
The online buying service also allows customers to compare different car models and prices directly on their computers. USAA has special relationships with GM and Mercedes Benz allowing them to offer members big savings from these manufacturers. The deals that USAA members receive from these particular manufacturers can range from a few hundred dollars to a few thousand dollars.
USAA Financing OptionsOnce a member has selected a vehicle through the USAA car buying service, he or she can begin the purchasing process through the USAA financing department. Members can receive special low interest loans through USAA, letting them take advantage of the kinds of savings that most dealers offer only for customers who pay in cash lump sums. USAA members can receive loans for up to 100% of the purchase price of a new or used vehicle.
There are no special application fees or closing costs for members using a USAA car loan to buy a car or truck. The approval of a loan can be completed within a few minutes of the loan request. Once the loan has been approved, USAA will transfer the money to the dealer as if the customer was paying with cash.Members who are already making payments on a vehicle may be able to refinance through USAA.
Members can request a new auto loan for any car that they have financed through a loan. USAA will pay off the existing balance on the car loan immediately, letting members take advantage of the lower interest rates offered through a USAA car loan. The refinancing application can be filled out and submitted online at any time.
Affordable Auto InsuranceOf course, USAA is primarily an insurance company. Members can take advantage of excellent insurance rates even if they do not choose to purchase a vehicle through the USAA buyer's service or take out a loan through the USAA financing department.USAA car insurance customers generally save as much as $400 annually by having their vehicles covered through USAA.
Customers can complete all of the insurance paperwork and negotiations completely online, making it fast and easy to insure a vehicle when you become a member. Bloomberg Businessweek has rated USAA car insurance as the best in four consecutive years.
Specific discounts that USAA members can qualify for include safe driver discounts, guaranteed repairs from specific USAA affiliated auto repair shops, and good student discounts. USAA offers flexible payment plans to fit comfortably into any financial situation. USAA members can also call the insurance company from anywhere in the world at no charge.
In states that allow it, USAA offers accident forgiveness discounts for their members who have been involved in only one accident over three consecutive years. Members also benefit from discounts if they have been members for a certain number of years. Individuals age 25 or younger can earn a legacy discount if their parents have been USAA members for an extended period.
Services for Non-Military IndividualsIf you are not a member of the military or a direct family member of military personnel, you can still take advantage of some of the benefits of USAA membership. Life insurance, banking services, and investment services are offered to the public through the USAA.
Any individual, regardless of their military connection, can use the USAA investment services to plan for retirement or invest more wisely.USAA offers a wide range of banking services for the public. You can become a member and create a checking account, savings account, or qualify for a credit card account.
The USAA banking service also offers special savings accounts for teenagers and college students. Youth accounts are available for younger kids. If you are interested in increasing your savings account, you can purchase certificates of deposit or CD IRA accounts that have a higher rate of return than typical savings accounts.