I know everyone credit is different. Assume is good / great credit, what's everyone got their rate at? Toyota financial? Credit Union? Now I think 72 months is like 6.1%
I’ll find out from my dealer soon and let you know. I have a pre approval from a credit union 7% 72 months, hoping the dealer can do better (credit score 770or so)
$900 a month for a corolla Is insane right. I got 8.24% from toyota thru the dealer. My own bank is 6.1% for 72 months. They dont budge so I will have to refinance next month. The dealer has 3 point markup on the buy rate. Thats how the finance dept makes money. Just beware. My chase approve me 6.1% and the dealer said they got chase for me for 8.59% crazy
All situational. I did 72 on my last car, put 70k miles on it and sold 5 years later for only 4K less than I paid. Just depends on what you’re comfortable with I guess
The Federal Reserve is expected to raise interest rates once again this week. Here's what that means for your wallet.
www.cnbc.com
as car sales slow, dealers will start offering better interest rates to get people to buy, that will always be a thing, but the car will need to have a higher supply to push dealers to offer better rates, and the upward move by the fed will limit how far dealers are willing to go.
anyway, if you got a rate that overcomes the ability of your money to make you more money, then pay down your loan as quickly as you can. I am embarrassed by the rate I got, but I was less concerned about it because I had already planned on paying down as much as I can, as quickly as I can.
Since my car finally hit F status, I went in and got preapproved with the Capital One Auto Navigator. I've used this as a bargaining tool many times in the past by getting my interest rate and payment all on a printout to have the dealer beat.
Well, for whatever reason GR Corollas seem to be excluded. They won't show APR or payment information for any of them within a 500 mile radius. Anyone else have this issue?
The dealer allow to mark up to 3%.. making $2-3k on the loan.. I was offered 8.35% from Toyota, while chase and other offer 6.1% for 72 months..... I suck it up and now in the process to refinance with my local credit union. Just approved for 6.1%
Still waiting to hear about a GRC, but I did just buy something else new. Got 5.05%/60 months with credit score over 800. You’re unlikely to find less right now unless it’s a factory promotional rate or shorter term.
With my trade-in I’m only borrowing around $20K so interest is not exorbiant.
Figure 4.75-5.5% anything above that with the given avg interest rates and you really need to drop more cash. Like a lot more $30k+
Mine was 5% and well over 825 credit score for 60 months.
Will be making double payments often though without early pay off penalty.
Just checked with my gal at the credit union. 3.74% for 60 or 72 months. I don’t finance over 5 years but that seems like a solid rate given current Fed rates. Only .75 up from when I financed my truck in 2019.
My credit union had that rate but only up to 36 months and you had to get some extras to buy down to that rate. Weirdly my Capital One rate from the dealer was less than they advertize on their own website.
Yeah, people can gas it up, hype it up, and I still say Don’t Believe The Hype it’s a sequel. I’ve been at this too long to 1) get worried about it and 2) to pay through the nose. % rates alone could mean putting it off. We shall see. I know one thing, ain’t pay ADM
you aren't getting better than around 5-5.5% for the average loan, even with a credit union. UNLESS you are like 87 years old and fully own 3 mansions or something
I’m a bit over half that age and I got 4.74% available right now. It was 3.74% but they just raised it a point. Mo’ motivation for me to keep stacking money to pay 70% instead of 50% down!