Quote:
Originally Posted by danifox
Oh okay, sorry I thought that even without the loan you still had to pay Chevy interest. I just wanted to have a monthly payment below 400 since I'll have to pay insurance and that will also be a pretty penny for me.
I'm with Bank of American but a lot of people have told me Suncoast Credit Union is really good with loans. So I was thinking about switching over bank accounts from BOA to Suncoast to try to get a loan. But it's not nessacarry to need to change bank accounts right? I could still ask for a loan from them without any problems? I read on the Suncoast site online that the interest is 3. something. But BOA also shows that their interest rate are AS LOW AS 3.59 for 72 months. I'll have to ask around and see who will be able to get me the best loan like you guys said.
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I strongly suggest not getting a loan longer than 60 months. If you can't afford the payments with a 5-yr loan you probably shouldn't be buying a car that expensive until you have saved up a bigger down payment. You do not have to switch banks to get a loan elsewhere. My credit union required that I open a savings account and transfer $50 to it, but that's it. BOA is notorious for advertising one interest rate and offering you another because you "don't qualify" for the advertised rate. Just know that every time you apply for a loan they pull your credit report. Lots of inquiries can lower your score (but it usually takes about 30 days to take effect).