When to line up my financing? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

R1Ecko · 08-11-2009, 09:43 AM

Hey guys,
quick question for anyone who lined up their loans before the car was delivered. Did you need a VIN or the window sticker to get a loan or is an amount from your dealer enough proof of cost. I'd like to finance the supplier cost of my 1SS + $200 for tint and all TT&L so around $33k. Will my credit
union be able to approve that much? I've heard it's a certain percentage over invoice that can be approved.
So if my car will be here say Oct 1st, when should
I be applying and have enough time to get
it completed before that day.
Also how soon after your TPW are VINs assigned?

Thanks all!

homerlex · 08-11-2009, 10:04 AM

VIN is assigned when the car is produced.

I was able to get pre-approved from a credit union before I had a VIN. It took less than a day for them to get back to me telling me I had been pre-approved and what the current rate was.

I ended up going with financing through GMAC (well, I will next week when the car is here) because they actually beat my credit union (4.09%). The dealer told me it only takes 10 minutes for GMAC to approve someone.

Iwantone2 · 08-11-2009, 10:05 AM

GMAC huh...I'll give them a shot too!

67 Convertible · 08-11-2009, 10:10 AM

I would have and did, get pre-approved before I ordered. You don't need vin# or anything to get pre-approved. What if the car comes in and you can't get the loan? Just tell them you want to get pre-approved for $xxx, when the car comes in, go in with the sales agreement with exact numbers and pick up your check.

Dee · 08-11-2009, 10:15 AM

I got pre-approved from my credit union in June. Talked to them this morning b/c i got my vin today and was told to call back when i have my bill of sale and invoice.

Dakota Kid · 08-11-2009, 01:28 PM

I went thru Randolph Brooks Federal Credit Union....3.9%...all I had to do was open a savings account.

Awesome service, highly recommended!

SLVRPHX · 08-11-2009, 04:21 PM

I wasn't worried about being denied, so I didn't apply for pre-approval until my car shipped. I then got a blank check valid upto the pre-approved amount (total couldn't be more than 110% MSRP). If you're concerned about if you'll be approved or not I'd suggest getting pre-approved before ordering.

Andro · 08-11-2009, 05:40 PM

Applied for my loan when I got the vin. Went through my credit union

Raz · 08-11-2009, 11:32 PM

I don't have an account with any credit union...should I just go to any one in my town?

UCI CamaroFan · 08-12-2009, 12:25 AM

Quote:

Originally Posted by homerlex

VIN is assigned when the car is produced.

I was able to get pre-approved from a credit union before I had a VIN. It took less than a day for them to get back to me telling me I had been pre-approved and what the current rate was.

I ended up going with financing through GMAC (well, I will next week when the car is here) because they actually beat my credit union (4.09%). The dealer told me it only takes 10 minutes for GMAC to approve someone.

Interesting. I look into GMAC too. However, I asked my salesman today and he said he could not beat my mother's credit union of 4.99%.

We shall see.

homerlex · 08-12-2009, 06:26 AM

Quote:

Originally Posted by UCI CamaroFan

Interesting. I look into GMAC too. However, I asked my salesman today and he said he could not beat my mother's credit union of 4.99%.

We shall see.

At first GMAC said 4.89%. After I told the dealer I could get 4.5 from my CU he went back and GMAC came back with the 4.09%. I guess everything is negotiable

SNV · 08-12-2009, 07:23 AM

I thought I was told that dealerships in NJ could tack on up to 2% intrest.

mion2001 · 08-14-2009, 09:07 AM

Good info here, have to try out getting a better deal from GMAC. Thanks!

R1Ecko · 08-15-2009, 10:45 AM

Not to get nosy, but what are ya'lls credit scores like? It seems like your all getting pretty good interest rates

08-11-2009, 09:43 AM	#1
R1Ecko Drives: 2018 Camaro SS Join Date: Dec 2008 Location: The Colony TX Posts: 277 View My Garage	When to line up my financing? Hey guys, quick question for anyone who lined up their loans before the car was delivered. Did you need a VIN or the window sticker to get a loan or is an amount from your dealer enough proof of cost. I'd like to finance the supplier cost of my 1SS + $200 for tint and all TT&L so around $33k. Will my credit union be able to approve that much? I've heard it's a certain percentage over invoice that can be approved. So if my car will be here say Oct 1st, when should I be applying and have enough time to get it completed before that day. Also how soon after your TPW are VINs assigned? Thanks all! __________________ 1SS Black 6 Speed Manual

08-11-2009, 10:04 AM	#2
homerlex Wait'ns the hardest part Drives: 2010 2LT/RS \|\| 2001 Tahoe Join Date: May 2009 Location: CT Posts: 249 View My Garage	VIN is assigned when the car is produced. I was able to get pre-approved from a credit union before I had a VIN. It took less than a day for them to get back to me telling me I had been pre-approved and what the current rate was. I ended up going with financing through GMAC (well, I will next week when the car is here) because they actually beat my credit union (4.09%). The dealer told me it only takes 10 minutes for GMAC to approve someone. __________________ 2LT/RS Black/Black, Manual with Polished AL Wheels Order #NKNB5D Vin: 2G1FG1EV7A9132544 1100 - 06/09/2009 \| 2000 - 06/18/2009 \| 2500 - 06/23/2009 \| 3000 - 06/24/2009 3100 - 07/14/2009 \| 3300 - 07/14/2009 \| 3400 - 07/25/2009 \| 3800 - 08/04/2009 4B00 - 08/05/2009 \| 4100 - 08/06/2009 \| 4200 - 08/08/2009 \| 5000 - 08/20/2009 \|6000 - 08/22/2009 Target Production Week:Originally: 7/27, pushed to 8/10 then back to 7/27

08-11-2009, 10:05 AM	#3
Iwantone2 Voice Of The Voiceless Drives: CGM 1SS RS Join Date: Feb 2009 Location: OC Cali Posts: 9,617 View My Garage	GMAC huh...I'll give them a shot too! __________________

08-11-2009, 10:10 AM	#4
67 Convertible Drives: 67 Camaro Convertible Join Date: Jun 2009 Location: MA Posts: 1,721	I would have and did, get pre-approved before I ordered. You don't need vin# or anything to get pre-approved. What if the car comes in and you can't get the loan? Just tell them you want to get pre-approved for $xxx, when the car comes in, go in with the sales agreement with exact numbers and pick up your check. __________________ _____________________________________________ 2LT/RS RJT, Blk Rally Stripes, Beige Interior, Sunroof Placed order at dealer 4/24/09 1100 - 4/28/09 2000 - 5/01/09 2500 - 5/05/09 3000 - 5/05/09 3300 - 5/30/09 3400 - 6/05/09 3800 - 6/18/09 4000 - 6/18/09 4B00 - 6/18/09 4200 - 6/22/09 5000 - 7/01/09 6000 - 7/01/09 It's Home!! 0000 - 7/14/11 Traded in with 24,000 miles. Currently 5th Gen less

08-11-2009, 01:28 PM	#6
Dakota Kid Drives: 2010 2SS/RJT/L99 Join Date: Dec 2008 Location: Springfield, MO Posts: 1,151	I went thru Randolph Brooks Federal Credit Union....3.9%...all I had to do was open a savings account. Awesome service, highly recommended! __________________ 2SS/RJT/L99

08-11-2009, 10:15 AM	#5
Dee Drives: Camaro ZL1,BMW 750i,Trailblazer SS Join Date: Jul 2009 Location: 37013 Posts: 96	I got pre-approved from my credit union in June. Talked to them this morning b/c i got my vin today and was told to call back when i have my bill of sale and invoice.

08-11-2009, 04:21 PM	#7
SLVRPHX SoCal C5 Family Member Drives: 2010 Camaro Join Date: May 2009 Location: San Diego Posts: 145 View My Garage	I wasn't worried about being denied, so I didn't apply for pre-approval until my car shipped. I then got a blank check valid upto the pre-approved amount (total couldn't be more than 110% MSRP). If you're concerned about if you'll be approved or not I'd suggest getting pre-approved before ordering. __________________ 1LT RS Auto SIM Gray C&C BA, JBA Axle Back 1100: 5/8/09 \| 3000: 5/27/09 \| TPW: 7/13/09 3800: 7/22/09 VIN 126623 4200: 7/24/09 \| 6000: 8/6/09

08-11-2009, 05:40 PM	#8
Andro NOICE!!! ™ Drives: Force Fed 427 Join Date: Jan 2009 Location: GOT BOOST? Posts: 5,214 View My Garage	Applied for my loan when I got the vin. Went through my credit union __________________

08-11-2009, 11:32 PM	#9
Raz Drives: I don't have one Join Date: Aug 2009 Location: tallahassee Posts: 2	I don't have an account with any credit union...should I just go to any one in my town?

08-12-2009, 07:23 AM	#12
SNV Drives: 2014 RRM 2ls Join Date: Jul 2009 Location: NJ Posts: 1,307 View My Garage	I thought I was told that dealerships in NJ could tack on up to 2% intrest. __________________ 2010 IBM 1LT out. 2013 BRM 1LS in. It's like having a blank canvas once again. Modding has started! Now on to a 2014......

08-14-2009, 09:07 AM	#13
mion2001 My Upgraded Life Drives: 2011 Camaro 2SS Join Date: Jul 2009 Location: Alexandria, VA Posts: 72	Good info here, have to try out getting a better deal from GMAC. Thanks! __________________ 2SS Manual/Hurst

08-15-2009, 10:45 AM	#14
R1Ecko Drives: 2018 Camaro SS Join Date: Dec 2008 Location: The Colony TX Posts: 277 View My Garage	Not to get nosy, but what are ya'lls credit scores like? It seems like your all getting pretty good interest rates __________________ 1SS Black 6 Speed Manual

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