Auto loan rates

1,826 Views | 7 Replies | Last: 5 yr ago by Flaith
DRE06
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AG
Looking at buying a new car and will likely finance through GM just to get the initial discount; then I'll renew.

When I look to refinance, where should I expect 60 month auto loan rates. I imagine not 1.9% anymore.
GTBullitt68
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I've had good success with PenFed and Randolph Brooks credit unions.
saltydog13
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Looks like 3.3%
HumbleAg04
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Why not just 0% through GM when they offer it?
CBarrett12
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1.65% Cherokee county teachers credit union. Starts a little higher and if you setup auto draft payment it knocks it down.
Shiner Bock
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HumbleAg04 said:

Why not just 0% through GM when they offer it?


Right now they have great rebates on 2018's if you finance with GMF. Just did this yesterday on a new truck. Will refinance shortly
DRE06
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HumbleAg04 said:

Why not just 0% through GM when they offer it?


Because you either get a good sales price or 0%, not both.

If you take the 0% offer, the car is $4-5k more.
Shiner Bock
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I refinanced with Westerra CU last year and got 2.49%, very quick, easy. They FedEx the paperwork, you sign and send back, they take over the note. Good app for iphone for payments/transfers, etc.

I will be calling them 1st here in a couple months when i refi my new truck.

Obviously rates are rising in the country on all loans, so 3's are about as low as i have seen advertised
Flaith
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DRE06 said:

HumbleAg04 said:

Why not just 0% through GM when they offer it?


Because you either get a good sales price or 0%, not both.

If you take the 0% offer, the car is $4-5k more.
Only difference would probably be additional rebates that you wouldn't qualify for if you choose the incentived 0% rate - usually $2-3k.

The price of the vehicle doesn't change. That's up to you to negotiate.

With 3.65-4.5% loans, the break even may be closer than you think.


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