whats average? is 6 percent too high?

 

got mine for 3.9 last month.

 

Depends on new or used. We got 6% on our Lexus used which was pretty good but some can do better. New cars typically have really low rates especially if they want to move a certain model. BMW recently did 1.9% on several models over the holiday and sometimes cash-strapped companies like GM will do 0% specials....

 

Most car companies have APR specials these days so under 3% is what I'd consider good, and lower the better.

 

New car - check out the manufacturer's financing offers through their own financial institutions. Often times, you will see 0%, 1.9%, etc. But also check with a credit union as they have good rates.

Used car - Credit union.

 

Manufacturers will run specials from month to month, if you are patient and can wait a few months(assuming you have good credit) you can always get a good rate. Another good tactic that may offset the APR, is to shop at the end of the month, if a salesman is close to making his goal for the month or to the next tier in compensation he may cut a very attractive deal to help meet that end.

On a new car I would NEVER pay more then 4%. I've never financed a used car but have heard credit unions are where it's at.

 

it really depends...

if you find a certified cars, they do have some special rate.

 

whats your credit score

 

Depends on everything and anything that has to do with the purchase.

Year, miles, your credit, your income, etc.

 

People mentioned these sub 3% rates need to read the fine print. 1.9 is usually for 24 months of financing, 2.9 36 months...etc.

I got 3.4% on the Challenger.

 

Most people are mentioning credit unions, which usually are great for financing and which I was planning to do. But the dealer actually gave me a better rate

 

what's your SSN?

 

What are you buying?
Who are you financing through?
New or used?


Please answer the above questions.

 

867-53-0900

*runs*

 

uh oh

 

you are either messing around or retarded, i hope it's the former

maybe get ok financing from a bank, or otherwise have cash on hand

when buying 94 camry:

sales guy: "k so we can give you a great rate, 14 (!!!) percent"
dad: "wtf i have perfect credit"
sales guy: "that's why we're giving you such a great rate"
dad: pulls out checkbook, writes check for full amount of car, slides over without saying a word
sales guy's eyes: dinner plates
sales guy runs into manager's office
sales guy and manager: "we can give you 0.9%"
dad: that's more like it

 

Average APR when there is no *special* APR financing is anywhere in the 5% to 6% ballpark, FYI.

 

 

I got 4.9% for 48 months at the dealer

 

True, in most cases with premium brands.

With mainstream brands, I see 0% for 60 months more frequently. Chrysler recently offered 0% for 72 months, and are currently offering 0% up to 60 months, including the Challenger.

 

0% has always usually been 60 months with any maker. Chrysler had 72 last month. Neither includes the Challenger.

 

If your dad wrote a check for the full amount why did you need an interest rate?

 

I have his SSN...true story...Want it?

 

Well, you said sub 3%, which includes 0% so I was just clarifying my point.

Are you sure on the Challenger? I just looked it up and it says 0% up to 60 months. Only at 72 months, they charge interest.

 

I looked it up before I posted. 0% is being offered on almost all models except the Challenger.

I checked a so cal zip and a mid west zip. Same on both.

 

You're right. I looked at the wrong line.

 

i meant it was dumb to post an SSN

 

if the rate of return on investing that money is more than the cost of borrowing then it makes sense to borrow. at the time the stock markets were doing well so he was definitely making more than .9% on the money

 

i got 3.9% 60mo on my certified infiniti fx35 three month ago

currently banks run higher apr so its better to use those special deals run by the manufactures

 

Um, he posted Jenny's phone number...... 867-5309.... Get it? The song?

(boy, do we have some young whipper snappers on here) :shooter:

Agree with PureAD: with dealers begging for customers, shop around for 3% or less. But use credit unions for used cars.

 

A 0% APR is great, so is 3% or 6%....but it would be nice if we had an idea of your credit score.

 

When My 06 Accord's lease was over, I refianced the balance to 5.95 with Wachovia. Not bad for used car but like other said your CC can do better. I got approved for 3.9 with penfed but they are lazy, they want me to call, get the payoff letter, copy of title and mail or fax to them.

https://www.penfed.org/index.asp

It should be the other way around. Penfed should do all the work for me!!

 

Fuck penfed. They are THE worst. They approved me for my loan for the Challenger. Then, came back and wanted proof of income. Once they got it they denied me saying I only like 300 bucks months cause of some genius in the back room. They were constantly lazy and rude. In the end I told them to go fuck themselves. Second time I tried to deal with them in 8 years, 2nd bad experience. After that I closed my account and will never use them again.

 

with penfed being shit. I walked in asking about accounts, and the dumb assistant there wouldn't give me the time of day. Then the manager I talked to was not real interested in my business. And this was on a military base.

Oh, and I was going to start an account with $30K cash.... Assholes. I'll never do business with them.

 

 

 

Well, you roll into a credit union with a 575 credit score, they would slam the door in your face. You roll into a dealership with a 775 score, they would usually offer to beat any other offers and finance you.

It is all about the score. what's yours?

 

"whats a good APR percentage for financing a car?"


Depends on your credit score....
Depends if its a new car or a used car...
Depends on the supply and demand of the new car you are financing...

Commercial banks will usually be higher than credit unions.

Financing arms of new car manufacturers will usually be lower than banks and credit unions...only new car mfrs. can offer deep discounted rates of 0%.

5-6% are rates from banks and credit unions for people for excellent credit scores (over 700).

 

We got 0% for 48 months through Honda.

 

Got my 2010 GTI for 2.9% last month and the rate dropped to 1.9% in February. Hoping it stays the same or drops again in March when I take delivery