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Old 06-28-2010, 05:55 PM   #1
bnsmith78
 
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Credit Score 690 and 8.5% GMAC financing??? BS

Finance 35K and the best I can get is 8.5 through GMAC???? NO WAY. Credit Score is 690??? Help!!

Does this sound right? I think I'm getting hosed...........
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Old 06-28-2010, 05:56 PM   #2
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It depends on more factors than your credit score. A longer term is going to come with a higher rate. If you don't put much money down, you may also get hurt. Your income also plays a role.
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Old 06-28-2010, 05:58 PM   #3
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A 690 is fair. Try your bank for a lower rate.
How long are the terms of the loan?
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Old 06-28-2010, 05:59 PM   #4
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http://www.capitalone.com/autoloans/

Don't let the dealer screw you over on the loan. Mine couldn't get me anything close to what I brought in from Capital One.
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Old 06-28-2010, 06:13 PM   #5
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Originally Posted by bnsmith78 View Post
Finance 35K and the best I can get is 8.5 through GMAC???? NO WAY. Credit Score is 690??? Help!!

Does this sound right? I think I'm getting hosed...........
Wow! I got 6.69% thru GMAC. My credit score was in the low 700s thru Experian but my dealer used TransUnion which dragged my score down to 670.:( My only choice was GMAC since I got turned down by the 5 banks they plugged my name into. My problem was having 2 car loans outstanding since I co-signed on my mom's car loan to help her out
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Old 06-28-2010, 06:16 PM   #6
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bank of america has nice rates right now. %3.69 for 72mo and better for 60 month.
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Old 06-28-2010, 06:16 PM   #7
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Wow! I got 6.69% thru GMAC. My credit score was in the low 700s thru Experian but my dealer used TransUnion which dragged my score down to 670.:( My only choice was GMAC since I got turned down by the 5 banks they plugged my name into. My problem was having 2 car loans outstanding since I co-signed on my mom's car loan to help her out


72 Months, Nothing down. I make 6 figures in the Midwest. Trans Union is 704. We have amost exactly the same score......What gives???
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Old 06-28-2010, 06:17 PM   #8
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mine was at 6 something threw gmac with a mid 700s credit score and nothing down, my credit union wouldnt do the loan they said it was a bad loan or something, i think im gonna refinance soon with someone else
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Old 06-28-2010, 06:18 PM   #9
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72 Months, Nothing down. I make 6 figures in the Midwest. Trans Union is 704. We have amost exactly the same score......What gives???
whats the ?
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Old 06-28-2010, 06:20 PM   #10
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whats the ?
I need a loan....Is 7-8% to high? I think I'm getting hosed....!!!
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Old 06-28-2010, 06:25 PM   #11
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I need a loan....Is 7-8% to high? I think I'm getting hosed....!!!
i got %6 and i feel like im getting hosed, its the highest intrest rate ive ever had on a car
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Old 06-28-2010, 06:34 PM   #12
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72 Months, Nothing down. I make 6 figures in the Midwest. Trans Union is 704. We have amost exactly the same score......What gives???
I did 72 months with $1,000 down plus $100 for my 08 G6GXP Then my gmcard and the USAA rebate.

I have had several car loans out since I went thru 7 cars. My 08 G6 GXP was fianced thru Chase Auto Finance for 6.44% and my 06 G6 GTP was financed thru GMAC for 3.9% I bought my first brand new car when I was 20 a 2003 Pontiac Grand AM GT and my loan rate was 5.99% but my dad co-signed since I had no credit history established yet. My loan I have out with my mom for the G5 is 4.74%. I wanted to fiance thru Chase again but they denied me so I don't care about giving them business anymore It's pretty sad when your rockin two car loans thru a bank never have one late payment with them but they still deny you credit
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Old 06-28-2010, 06:49 PM   #13
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Don't go through GMAC, their standard rates are terrble. Go through a local bank or credit union.
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Old 06-28-2010, 06:59 PM   #14
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I got 4.74% for 72 month with BB+T. I dont have an account with them either.
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