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Golfer2012
LSU Fan
New Orleans
Member since Jun 2010
54 posts

Auto Loan
Any suggestions on who to use for an auto loan?

TIA


Tigerpaw123
USA Fan
Louisiana
Member since Mar 2007
12295 posts

re: Auto Loan
Penfed


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goldennugget
LSU Fan
Gary Chambers
Member since Jul 2013
19349 posts

re: Auto Loan
Don't

Pay cash


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756
LSU Fan
Member since Sep 2004
12801 posts

re: Auto Loan
1. cash is king
2. credit union
3. slightly used car - let someone else take the depreciation hit


Lsut81
Chicago Cubs Fan
Member since Jun 2005
67913 posts

re: Auto Loan
Pen fed


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Hoyt
Alabama Fan
Alabama: The Beautiful
Member since Aug 2011
3988 posts
 Online 

re: Auto Loan
Cash is not king. Dealers want you to finance "through them" and if you can finance a vehicle for 48-60 months for 2% or less why would you ever pay cash?


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Member since 2001
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LSUtigerME
LSU Fan
Walker, LA
Member since Oct 2012
1536 posts

re: Auto Loan
quote:

Cash is not king. Dealers want you to finance "through them" and if you can finance a vehicle for 48-60 months for 2% or less why would you ever pay cash?

This. Penfed or a credit union. Very low interest rates right now, no reason to pay cash.


Will Cover
Atlanta Braves Fan
Whereever They Write Checks
Member since Mar 2007
31542 posts
 Online 

re: Auto Loan
I could think of one reason. Peace of mind.


Hoyt
Alabama Fan
Alabama: The Beautiful
Member since Aug 2011
3988 posts
 Online 

re: Auto Loan
Peace of mind to me is using the same money to earn 6-8% while I'm only paying 1-2% interest on an auto loan.


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HeadyMurphey
LSU Fan
Los Santos
Member since Jan 2008
16509 posts

re: Auto Loan
quote:

I could think of one reason. Peace of mind.


A false sense of peace of mind. What really makes you feel better about it? Having the title in your possession? These days, it isn't very hard to set up an online recurring payment through your bank.


onelochevy
LSU Fan
Slidell, LA
Member since Jan 2011
9471 posts
 Online 

re: Auto Loan
Credit Union. My wife and I both have auto loans through our credit union and the rates are less than 2%.


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