Fionn

Should I go with the dealer? They seam pretty set on 5 percent.
Should I go with a bank?
Should I go with a Credit Union?

Stewie

My credit untion was 4.9%, as is Amercian Honda Credit and many banks.
That's the rate I got last week.

sepatel

Who knows, maybe with 4th of July around the corner, the dealerships may do the 2.9% thing again like they did on Memorial Day weekend, its worth asking around about and definitely worth waiting for if you can.

berkshireTL

Costco...great financing rates available:

https://www.capitaloneautofinance.co...anding/Costco/


3.6% for 12-36 months
4.14 for 37-60 months

kazuaki

I was given 3.89% from my dealer (American Honda)...

DopeTL04

5% is way too high! I got 3.7% from Honda and I thought it was high...you can def do better than 5% somewhere...Honda actually had 2.9 at the end of February when I bough my car, but I just missed it and settled for the 3.7

ROBK

What is the credit score needed to get these rates?

budman

Always go to the dealer with your financing in hand. You'll have more leverage and if they want you to finance with them, they'll make it worth your while by trying to beat the rate. Be careful who you finance through though. I had eLoan, but they did not accept it stating they had a hard time getting paid. I had backup financing through Wachovia but at a higher rate, although the dealer just matched my eLoan rate at 3.89% since he knew I was not planning on going with dealer financing (who ended up using Suntrust).

tlguy99

Usually they like to see > 690-710. The best rate I have been quoted is 4.09% from American Honda.

Fionn

Well I checked by Credit and I am above 730. (excellent)
My mom, well she is in the 800s..

cheesehead

What did Wachovia want? Anyone get financing through USAA?

VOdoc

USAA matched the 2.9% that Acura offered over Memorial Day weekend.

Given a choice, go with USAA because they include total loss protection (AKA gap insurance) at no extra charge. That protects you from owing money on a totaled car if something happens early in the loan term while you are still "upside down."

USAA is very selective; you will need a high FICO score (?? 750 plus ??) and a military background. Best of luck.

anthracura

Be careful with Capital One finance. I was talking to a salesperson at a dealer and he told me that many dealers (Acura and others) don't accept Capital One finance because they take too long to fund the loan. He told me that in some circumstances it takes up to two months to fund, which would mean that the dealer has to pay the financing cost of the vehicle until they receive their money from Capital One. Because of this, many dealers don't accept it anymore.

It's a shame because they have decent rates.

A

spidey07

and you believe what a dealer tells you? Especially from a car salesman?

I'd take that comment the dealer made with one huge grain of salt. Sounds to me like he was trying to steer you towards dealer financing.

anthracura

That's a good point, but let me elaborate. I had already told him that I was paying cash for the car so no financing was needed.

cheesehead

Thanks - I'm active duty military and have been with USAA insurance since 1987. Only problem is I have an issue I'm working through an attorney on my credit report (no fault of mine...grantor made an error) so not sure how that will affect my financing. I'm hoping USAA would look at my long term committment with them and the fact that I'm a military officer that has been with them long-term and would set up a military allottment (guaranteed payment!)

budman

For something to compare againest, you can go to bankrate.com (direct link to auto loans by state below). They show different rates by state and terms. Be aware that Capital One and eLoan are all over these pages and are always the lowest... doesn't mean the dealer will accept them. Wachovia was around 7% in March when I was in the market for a loan. I followed the link and its closer to 8% now. Obviously you can do better. Suntrust shows 8.75%, but I got 3.89 through Suntrust through the dealer because of my FICO score.

http://www.bankrate.com/gookeyword/r...autosearch.asp

cnp

Just tonight with USAA. We negotiated 2.9% for 60 months. Long time customer, FICO of 804 doesn't hurt. Point is to negotiate.
Pentagon Federal was an option first until I scored with USAA - they are 3.69% - military association needed, or can donate to a military family association ($20), and open a $5 saving account to qualify (and will need decent credit).

tibidip

I used CapitalOne finance at Hillside Acura and the dealer had no problem.

ed99

Go shop around for the best rate!!!

budman

Be careful. When I was looking, the saleperson said eLoan was ok to use, but the finance guy said no. In fact, when I applied at eLoan, they sent me an email of Acura dealers in my area that accepted eLoan and it included the dealer I bought from even though the finance guy said no way.

They want your business. If they said no, you might have bought somewhere else. Was it the sales guy or the finance guy that took Capital One?

tibidip

The sales guy checked with finance and they said it was okay. Thus I'm tooling around my new WDP/Parchment TL.

leeherman

tibidip, I see you're in Valley Stream. Did you get your car from Acura of Valley Stream, and if so, who did you deal with.

I'm awaiting my car and I'm curious about your dealership experience.

Thanks!

Sherlock

I used USAA, but I guess I should have held out longer. That and I got mine in October, I got 4.3%, could have gotten 4.0 if I did auto-deduct. I"m saddened to hear they matched 2.9%.. I guess 8 months later the rates were still dropping.

I've had them for.. hmm.. 18 years for insurance, a few years for checking, many years with a Visa, and now my 04TL loan.

tibidip

Actually I did not get it from Acura of Valley Stream. I ended getting it from Hillside Acura in Bay Shore.