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Started By
Message
Auto loan rates
Posted on 10/24/18 at 6:19 am
Posted on 10/24/18 at 6:19 am
I last bought a car for my wife more than 4 years ago. We were preapproved by Chase at 1.99, but the dealership offered 1.69.
My car is nearly 15 years old, and it’s quickly getting to be time. I did the pre-approvals through USAA, Chase, and Cap One. But they’re all offering the same thing, around 4.5. My credit score is 820+
Are rates just that much higher now or am I not looking in the right place?
My car is nearly 15 years old, and it’s quickly getting to be time. I did the pre-approvals through USAA, Chase, and Cap One. But they’re all offering the same thing, around 4.5. My credit score is 820+
Are rates just that much higher now or am I not looking in the right place?
This post was edited on 10/24/18 at 8:54 am
13
Posted on 10/24/18 at 7:33 am to NaturalBeam
PenFed
Posted on 10/24/18 at 7:38 am to NaturalBeam
Rates are going up , but penfed still has 3.49 for 60 months for a new car
Posted on 10/24/18 at 8:22 am to NaturalBeam
quote:
My credit score is 850+
Posted on 10/24/18 at 8:53 am to deNYEd
yeah I now see that's apparently over the max. One of the companies sent me my Equifax or Experian number - I thought it said 854 - but maybe it was 824 or 834. It was in the 98th percentile, according to the company. Long story short, I've got very good credit. I'm struggling to understand how rates have increased so much in just a few years.
Posted on 10/24/18 at 8:54 am to NaturalBeam
quote:
Are rates just that much higher now or am I not looking in the right pl
Rates right now suck for everything when compared to what they were 2 years ago.
Posted on 10/24/18 at 9:00 am to NaturalBeam
quote:
I'm struggling to understand how rates have increased so much in just a few years.
not trying to be an arse, but it has been pretty big news that rates have been on the rise
Posted on 10/24/18 at 9:05 am to Tigerpaw123
That's fair - I've been aware of that and I see where the Fed is at, but I admittedly haven't applied for any borrowing for a few years. Just didn't think it had gone up 3%, which is about the difference in what I'm getting. Oh well, thanks. 
Posted on 10/24/18 at 10:55 am to NaturalBeam
Last week I bought a truck. Excellent credit score (800+)
tried to get a car loan through USAA, they came back with 4.94 (including the 0.25% discount because of automatic withdrawals).
Car dealership went to all the local banks and Federal credit unions and got me 4.5%.
Twas surprised at the jump in rates considering I had a better score now than 2 years ago.
Got my car two years ago at 3.25% with good credit, but minimal history.
tried to get a car loan through USAA, they came back with 4.94 (including the 0.25% discount because of automatic withdrawals).
Car dealership went to all the local banks and Federal credit unions and got me 4.5%.
Twas surprised at the jump in rates considering I had a better score now than 2 years ago.
Got my car two years ago at 3.25% with good credit, but minimal history.
Posted on 10/24/18 at 1:19 pm to NaturalBeam
Posted on 10/24/18 at 2:16 pm to NaturalBeam
If you know someone that works for Entergy, use them to get u with Riverland Credit Union. They will still do 1.99 for 60 with auto withdrawal.
Posted on 10/24/18 at 3:04 pm to NaturalBeam
I'm debating on buying a car or waiting until next year and squeezing out more months of no car payments. Does the MT folks think interest rates on car loans will continue to go up or should I buy now rather than later? Excellent credit rating so that's not an issue.
Posted on 10/24/18 at 8:27 pm to NaturalBeam
I was at my credit union on last friday and asked the rates. It was 1.99 for new auto
Posted on 10/24/18 at 9:06 pm to Catman88
Maybe 1.99% for 24 months. But what’s their rate for those awesome 84 month auto loans?
Posted on 10/24/18 at 9:11 pm to NaturalBeam
I bought two weeks ago. 800+ score the rate was 3.89 through First Florida
Eta: used vehicle
Eta: used vehicle
This post was edited on 10/24/18 at 9:12 pm
Posted on 10/24/18 at 9:44 pm to NaturalBeam
I've used DCU and Penfed, DCU is 3.74 up to 65 months. Penfed is 3.49 up to 60 and 3.74 up to 72. Both were great to do business with.
Posted on 10/24/18 at 9:45 pm to achenator
If legit, that’s the best I’ve seen in a while besides manufacturer incentivized rates.
Posted on 10/25/18 at 3:00 pm to lnomm34
Following.
Posted on 10/25/18 at 4:37 pm to NaturalBeam
I bought a truck a couple of months ago and refinanced through Keesler Federal for 2.39%. It was the best I could find. Since then they have gone up to 2.49%.
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