What APR to expect?
As I've read in another topic, standard APR for such a hot car should be above 7%, financing it with Acura/Honda. Is it true? Can I expect normal 3-5% APR depending on my credit score and higher downpayment? Or should I go and start searching for a better loan for this car? Thanks in advance.
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Just my opinion
You should always start your financing options with your bank, credit union, etc... You take that to the dealership and see if they can beat it. I believe in people finding good deals.. good deals don't come looking for you.
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I get a preapprove loan from credit union for 60 months. They gave me 5.25% for my 2004 TL
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If you have good credit, you should be able to get a decent interest rate. My credit union has 60 month new car loans at 5%. I was able to get 4% for 60 months at the dealer. So doing your homework helps.
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I got 4% at the dealership with an "outstanding" credit rating (as the GM put it )
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I'll say it again....do your homework. I got a much better interest rate at the dealer than at my bank or most other places I looked. I got 3.84% for 60 months.
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Originally posted by neuronbob I'll say it again....do your homework. I got a much better interest rate at the dealer than at my bank or most other places I looked. I got 3.84% for 60 months. |
Same way you negotiate a lower price for a car. Haggle.
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