Stayed the same at my bank. Was looking a few months ago at new vehicles (2004+) for 5 years is 4.49% and that’s where it’s at now.
What bank?
Any requirements to be a member?
I’m down in the southern tier so it’s a ways away (not to mention a credit union)… www.corningcu.org.
Western Division has it so far. 5.75% for 72 months and only need to live/work here
Individuals that live, work, worship, volunteer or attend school in the counties of Erie or Chautauqua, New York.
Seems like it’s almost worth the extra few Thousand you spend at a dealer to get a good rate if the car is over $20K and you plan on keeping it for a few years. They have the most attractive rates at this point.
x…
interest on a car note of reasonable term is hardly worth bending over backwards to save a half a percent. if you have to, you can’t afford it.
nothing wrong with just wanting to find the best deal though…
Yep, i was a little bummed when i missed out on a .5% lower rate on the exige, but was a little less bummed out when i saw it was only 500 bucks over 5 years… or 8 bucks a month… And that principle was probably a bit more than whatever you’re looking at.
Also: DON’T FINANCE AT 72 MONTHS UNLESS YOU’RE PUTTING A LOT DOWN ON IT.
otherwise you’re going to be upside down…
Ya its more so that the great site online firstagain.com 7.1% and getting 5.75% at a local credit union makes a difference.
I agree with you tho, if my own bank is 6.99% and another one is 6.49%, i would rather just keep my own bank to keep it simple.
As with the 72 months, any big reasons? Its only .5% intrest more to go the extra year and I only drive 7-8k miles a year since I have a work car I drive to and from work. I am putting 1/4 of the cost down and financing the rest of the car.
Also, the vehicle is a 2005 BMW X3 and only has 7,000 miles on it is known to retain value better than my sunfire which I kept for 7 years and had 45,000 miles when I got it and put 10-12k a year on that.
:picard:
Longer term is more expensive than lower rate (esp. at .5%).
7.1% and 5.75% is still negligible over the term of the loan esp since you keep talking about 72 months.
If you’re going to a longer term because you can’t afford the payments, then you can’t afford the car. Bottom line.
Also, you have a DD vehicle supplied by work… Why the hell would you buy another DD type vehicle…???
A 20K loan @ 6% for 60 months will cost you 3200
A 20K loan @ 6.5% for 72 months will cost you 4200
That’s 1000 dollars.
To put that in terms you can understand: That’s TEN YEARS of match.com membership!
bank of studderin was 6% on auto loans on a cool car. 8% if it sucks
If anyone was intrested in rates, www.westerndivision.org has the best I found. Anyone in the Western counties can join.
5.25% up to 60 and 5.75% for 72.
Haven’t found any cheaper at credit unions or online. Even a dealear couldn’t get me a rate below 7% and I have almost a 800 credit score.
I got slammed for 20k @ 8 percent but the car will be paid off in 2 years so it wasn’t much more and I had to havethe loan right then
Ya I was searching last week and applied to a few places. I am waiting for this fucking bank to call me back tho. I have called them 3 days in a row. They told me I am eligible but wont let me finish the paper work so I can get the check. If I don’t hear from them Monday, I am going elsewhere.
I am amazed tho that bigger banks don’t have lower rates. I am a Bank of America customer and a Key Bank customer but they gave me rates of like 9% for a 60 month loan.
what about AAA?
Not a member. My roadside is through geico
Did mine through HSBC… 7.65%, but it was only for 10k.
Bump…anyone else shopping around lately? Looking only to finance $10k over 36 months. Would prefer online payment ability!