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used car loan

Posted on 9/27/10 at 9:20 am
Posted by jeghead08
Baton Rouge
Member since Aug 2006
394 posts
Posted on 9/27/10 at 9:20 am
I'm looking into purchasing a used vehicle sometime in the near future and I want to see what kind of interest rate I can get. I bank with Capital One and have been receiving emails that show rates as low as 5%. If I apply for a loan (locks in a rate for 45 days) and don't use it, will that negatively affect my credit? I really just want to see what kind of rate I qualify for.
Posted by Chad504boy
4 posts
Member since Feb 2005
166249 posts
Posted on 9/27/10 at 9:38 am to
Depends on the type of car you purchase as to the type of loan you can get. Start with Neighbors Federal Credit Union in BR.
Posted by Will Cover
St. Louis, MO
Member since Mar 2007
38545 posts
Posted on 9/27/10 at 10:37 am to
quote:

I bank with Capital One


Fine, but get your loan somewhere else.

Neighbors FCU, Pentagon FCU (can join for $20), USAA are good bets.
Posted by jeghead08
Baton Rouge
Member since Aug 2006
394 posts
Posted on 9/27/10 at 10:46 am to
I just applied and for an 07-08 vehicle they gave me 6.14%. You think I can do better at a credit union?
Posted by Chad504boy
4 posts
Member since Feb 2005
166249 posts
Posted on 9/27/10 at 11:08 am to
quote:

You think I can do better at a credit union?


I got a 3.49% loan from neighbors few months ago.
Posted by jmtigers
1826.71 miles from USC
Member since Sep 2003
4970 posts
Posted on 9/27/10 at 12:45 pm to
You should be able to get around 4.5% or less
Posted by LSUGUMBO
Shreveport, LA
Member since Sep 2005
8510 posts
Posted on 9/27/10 at 1:35 pm to
I got 3.99% at Chase for an '08, and Wells Fargo (dealership financing) matched it.
Posted by tigers444
Member since Jun 2009
3083 posts
Posted on 9/27/10 at 1:37 pm to
I got 3.49% through State Farm Bank.
Posted by BrosephineJohnny
St. Mary Parish, NEZ on Saturdays
Member since Aug 2010
150 posts
Posted on 9/28/10 at 7:01 am to
My wife got 3.75% through Neighbors like 2 weeks ago on an 08 Suburban
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