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Car dealership/finance guys: Trying to put my son in a car

Posted on 7/18/18 at 5:03 pm
Posted by Scoop
RIP Scoop
Member since Sep 2005
44583 posts
Posted on 7/18/18 at 5:03 pm
I have borderline prime/super prime credit and my bank is trying to put me on a 6% rate for a used car loan.

Is this right?

Posted by beerJeep
Louisiana
Member since Nov 2016
35045 posts
Posted on 7/18/18 at 5:04 pm to
Money board?
Posted by LafitteDog
Old Metairie
Member since Feb 2011
216 posts
Posted on 7/18/18 at 5:05 pm to
A credit union in your area will get you a better rate.
Posted by zeebo
Hammond
Member since Jan 2008
5195 posts
Posted on 7/18/18 at 5:05 pm to
You probably meant this for another board.
Posted by Green Chili Tiger
Lurking the Tin Foil Hat Board
Member since Jul 2009
47613 posts
Posted on 7/18/18 at 5:05 pm to
Based on your board choice.....Trump's fault?
Posted by Parmen
Member since Apr 2016
18317 posts
Posted on 7/18/18 at 5:06 pm to
I'm your first downvote. How is this politically related?
Posted by TBoy
Kalamazoo
Member since Dec 2007
23728 posts
Posted on 7/18/18 at 5:07 pm to
Rates for used cars are typically higher than for new cars.
Posted by starsandstripes
Georgia
Member since Nov 2017
11897 posts
Posted on 7/18/18 at 5:08 pm to
quote:

Scoop


you've had a stroke or something. lot of misfires on threads the past 24hrs.
Posted by PsychTiger
Member since Jul 2004
99074 posts
Posted on 7/18/18 at 5:08 pm to
Cash for Clunkers ended long ago.
Posted by TigerNAtux
Louisiana
Member since Dec 2007
17112 posts
Posted on 7/18/18 at 5:09 pm to
Buy new.
Posted by YipSkiddlyDooo
Member since Apr 2013
3638 posts
Posted on 7/18/18 at 5:09 pm to
quote:

6% rate for a used car loan. Is this right?


Probably not but how used is the car?
Posted by Robin Masters
Birmingham
Member since Jul 2010
29820 posts
Posted on 7/18/18 at 5:10 pm to
Get an old truck or jeep with cash and let him fix it up.

Posted by PsychTiger
Member since Jul 2004
99074 posts
Posted on 7/18/18 at 5:10 pm to
quote:

Probably not but how used is the car?


Check the Car Facts to be sure it wasn’t used by ISIS in Iraq or Syria.
Posted by Scoop
RIP Scoop
Member since Sep 2005
44583 posts
Posted on 7/18/18 at 5:13 pm to
quote:

A credit union in your area will get you a better rate.


This was a credit union I’ve had an account with since I was 15 y/o.

Wife did an inquiry with another bank this afternoon and they offered 3%.

I think my credit union is as crooked as a roach leg.
Posted by Scoop
RIP Scoop
Member since Sep 2005
44583 posts
Posted on 7/18/18 at 5:14 pm to
Sorry fellas.

Thought I had put this on MB.

Will RA.
Posted by burke985
UGANDA
Member since Aug 2011
24624 posts
Posted on 7/18/18 at 5:14 pm to
I always get 2.5 - 3% at a credit union on a new or used car that is your best bet.
Posted by Scoop
RIP Scoop
Member since Sep 2005
44583 posts
Posted on 7/18/18 at 5:15 pm to
Happens to the best of us.
Posted by TigerBait1971
PTC GA
Member since Oct 2014
14865 posts
Posted on 7/18/18 at 5:16 pm to
Ha.

Only poors don't pay cash.
Posted by Deuces
The bottom
Member since Nov 2011
12391 posts
Posted on 7/18/18 at 5:16 pm to
quote:

Sorry fellas. Thought I had put this on MB. Will RA.


Posted by Rougarou13
Brookhaven MS
Member since Feb 2015
6839 posts
Posted on 7/18/18 at 5:16 pm to
If the car is pretty old you will get dinged on the rate, but the last used car I financed at prime rate was 3.9%
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