[hl0m4n]

any recommendations for a used car loan 60/72 month? im seeing aprs in the high 3s to 4s at the moment; tier 1 credit.

[Mark M]

Originally Posted by hl0m4n

any recommendations for a used car loan 60/72 month? im seeing aprs in the high 3s to 4s at the moment; tier 1 credit.

Your local credit union? Home equity loan?

[eatsleepboost]

DCU. 2.75%. I have had them for years. I used to have 2.49 with them but their new lowest rate is the 2.75. Love the company so much I do all my banking through them now.

Or yea like stated above, your local credit union will have the best. Hopefully you have a DCU near you.

[F80_M]

Check out penfed

[Never_Enough]

Originally Posted by F80_M

Check out penfed

+1

[DSB335d]

State Farm

[RickFLM4]

AAA

[EnVe46]

I use a credit union here in Florida, Suncoast, but have to Fla resident. Ive never had a APR above 2.5%, currently at 2% on this current one. Its like free money

[se15679875]

Originally Posted by EnVe46

I use a credit union here in Florida, Suncoast, but have to Fla resident. Ive never had a APR above 2.5%, currently at 2% on this current one. Its like free money

Why would a credit union give you 2%? They're hardly keeping up with inflation at that rate.

[qba335i]

Originally Posted by se15679875

Why would a credit union give you 2%? They're hardly keeping up with inflation at that rate.

What rate are they giving you on your deposit? Chase /BofA is offering 0.01%... as you see still a lot of room to make money

[EnVe46]

Originally Posted by se15679875

Why would a credit union give you 2%? They're hardly keeping up with inflation at that rate.

I tend not to ask questions when I benefit but I also took the longest term they offered, 72 months, so I'm sure that has something to do with it.

Originally Posted by qba335i

What rate are they giving you on your deposit? Chase /BofA is offering 0.01%... as you see still a lot of room to make money

I have no clue what they offer, I use them for car loans only. I do know it can't be worse than the bank I use for everything else, Wells Fargo.

[ShopVac]

My credit union was offering 2.25% on a 48 or 60 month loan. To hit that rate, you couldn't finance more than 80% of the value and you had to have a direct payment from the account. Otherwise it was 3%

I've been noticing a trend upwards over the last couple years. In 2014 through 2016...1.5 to 1.9% was not unheard of.

[ASAP]

I have 2.9% for 72 mos with a smaller Florida CU and honestly, I still think thats high given my credit score and the loan amount.

[BayE30]

You guys have great rates in your states. In CA the best % CU are offering is 3.1% on used cars. I just got a loan for my current m3 2 weeks ago, and my credit is fking awesome.

[Gesler]

LightStream

[se15679875]

Originally Posted by EnVe46

I tend not to ask questions when I benefit but I also took the longest term they offered, 72 months, so I'm sure that has something to do with it.




I have no clue what they offer, I use them for car loans only. I do know it can't be worse than the bank I use for everything else, Wells Fargo.

I've never financed a car before but with rates as low as 2% I'd consider it. I've never been offered anything under 3.5% before.

[EV0LVE]

Originally Posted by se15679875

I've never financed a car before but with rates as low as 2% I'd consider it. I've never been offered anything under 3.5% before.

That's probably because you've never financed a car. They don't have much of a reference in terms you paying off car. Unless you've already paid off a mortgage...

[se15679875]

Originally Posted by EV0LVE

That's probably because you've never financed a car. They don't have much of a reference in terms you paying off car. Unless you've already paid off a mortgage...

I don't understand why a lack of past car debt should be relevant, though. I've had credit cards for many years (paid off in full every month) and I have mortgage debt, so my credit score is fine (more than fine, it's near maximum at this point at 835-845 last I checked).

The mere fact that I can write a check for a car I'm trying to finance should be evidence enough that surely I'd be able to make payments on it. Why doesn't income and net worth trump history of car debt?

[StuP]

I've seen 1.9 recently, but I've never financed a car, wouldn't start now.

[qba335i]

Originally Posted by se15679875

I don't understand why a lack of past car debt should be relevant, though. I've had credit cards for many years (paid off in full every month) and I have mortgage debt, so my credit score is fine (more than fine, it's near maximum at this point at 835-845 last I checked).

The mere fact that I can write a check for a car I'm trying to finance should be evidence enough that surely I'd be able to make payments on it. Why doesn't income and net worth trump history of car debt?

Revolving vs installment credit. Both have impact on your credit score. If you have over 750 it does not really matter how you achieved it as you will get the best rates.

[qba335i]

Originally Posted by StuP

I've seen 1.9 recently, but I've never financed a car, wouldn't start now.

It's a personal preference. At rates so low it makes sense to finance, especially if you earn more on your investment than you pay in finance charges.

On the other hand, some people just don't want to deal with monthly car payments so a few extra dollars is not worth it for them.

[Rokoz]

My local credit union offers rates lower than 3 percent on terms that long. I'd check some credit unions out