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Auto Loan Rates

Posted on 10/5/20 at 11:30 am
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 10/5/20 at 11:30 am
What are you guys seeing out there? 800+ credit.
Posted by Tig3rman
Member since Aug 2018
232 posts
Posted on 10/5/20 at 11:43 am to
Bank of America gave around 3% for used
Posted by lsusystem
Member since Jun 2007
351 posts
Posted on 10/5/20 at 11:44 am to
3% for new vehicle.
Posted by TTownTiger
Austin
Member since Oct 2007
5301 posts
Posted on 10/5/20 at 11:48 am to
Capital One just gave me 2.9% for 72 months for used.
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 10/5/20 at 11:49 am to
I am looking for new car rates. Sorry.
Posted by AUjim
America
Member since Dec 2012
3662 posts
Posted on 10/5/20 at 11:51 am to
We looked a bit last week - lightstream isn't even advertising 'good' rates right now. Over 4% for 48 months. If you are thinking of purchasing and can get 2 or 3%, i'd feel pretty confident in that.
Posted by TTownTiger
Austin
Member since Oct 2007
5301 posts
Posted on 10/5/20 at 11:54 am to
New rates would likely be 1.9% to lower 2s. A lot of dealerships are also still running 0% financing deals on new vehicles.

Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 10/5/20 at 11:56 am to
quote:

New rates would likely be 1.9% to lower 2s. A lot of dealerships are also still running 0% financing deals on new vehicles.




Dang. I need to find this.
Posted by achenator
Member since Oct 2014
2945 posts
Posted on 10/5/20 at 11:58 am to
quote:

Dang. I need to find this.


What brand are you shopping? Dealers will still sometimes give lower rates through unions than the CU's will offer their customers. Ask the dealer.
Posted by MaxDraft
Baton Rouge
Member since Aug 2019
558 posts
Posted on 10/5/20 at 12:05 pm to
Doing a refinance today. 2.75% at Air Force Federal Credit Union. You can join online by donating to one of the charities they have listed.
Posted by WhiskeyThrottle
Weatherford Tx
Member since Nov 2017
5312 posts
Posted on 10/5/20 at 12:34 pm to
quote:

Dang. I need to find this.


My understanding on this is that you have to pay full MSRP for the vehicle to get the 0%.
Posted by Janky
Team Primo
Member since Jun 2011
35957 posts
Posted on 10/5/20 at 12:42 pm to
I am looking at a new Chevy Tahoe.
Posted by HeLeakin
Member since May 2014
3312 posts
Posted on 10/5/20 at 12:49 pm to
Check lending tree and see what they find.
Posted by Brightside Bengal
Old Metairie
Member since Sep 2007
3883 posts
Posted on 10/5/20 at 12:50 pm to
In the New Orleans area, Jefferson financial tends to be the best.
Posted by LSUSUPERSTAR
TX
Member since Jan 2005
16312 posts
Posted on 10/5/20 at 12:52 pm to
quote:

My understanding on this is that you have to pay full MSRP for the vehicle to get the 0%.


Depends on the vehicle. I bought a Tacoma in May, didn't pay MSRP and got 0% for 60mths. That included the TT&L with no out of pocket.
Posted by DieSmilen
My Rubbermaid Desk
Member since Dec 2007
1732 posts
Posted on 10/5/20 at 1:25 pm to
I just got 2.9 from my credit union. 66 month had to be 2017 or newer.
Posted by TTownTiger
Austin
Member since Oct 2007
5301 posts
Posted on 10/5/20 at 1:28 pm to
quote:

My understanding on this is that you have to pay full MSRP for the vehicle to get the 0%.


Yes, in most cases. In July, when I first started looking, Infiniti was offering 0% for 72 months. When I asked if they could take anything off of MSRP if I did not choose 0%, they came back with $11K off MSRP. Considering my trade in and down payment, I would have come out better by a few grand if I wouldve taken the $11K off MSRP if I could have found financing under 3%.

At the same time, GMC was offering 0% for 72 months on their 2020 vehicles. Their 2021 lineups were about to hit the lot though and they had zero financing deals/money off MSRP for those 2021s yet.
This post was edited on 10/5/20 at 1:36 pm
Posted by Tigerpaw123
Louisiana
Member since Mar 2007
17258 posts
Posted on 10/5/20 at 2:24 pm to
Penfed 2.89 for 60
Posted by Chasin The Tiger
Lake Travis, TX
Member since Sep 2012
576 posts
Posted on 10/5/20 at 2:26 pm to
DCU 1.99 for 65 months
Posted by RichJ
The Land of the CoonAss
Member since Nov 2016
3121 posts
Posted on 10/5/20 at 2:47 pm to
With equity discounts, easily in low 2's...
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