What is a good interest rate from a dealer? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

butterfingers · 10-18-2009, 01:24 PM

I was pre-approved for $35K @ 3.98% 60mo through my bank. I'm wondering if my dealership could beat that.

se7en · 10-18-2009, 01:30 PM

Better than my pr-approved $50K @ 6.0%, but im paying cash for my Camaro. I highly doubt that you will get a better deal than your offer right now. Just my 2cents

Good luck!!!

Cmaro214 · 10-18-2009, 01:31 PM

3.98% seems pretty dam good. when doing estimate payment on gm website they give the gmac stand apr at 7.87 !! so maybe your rate is best way to go, but listen to other opinions i haven't even gotten as far as you yet.

All-Or-Nothing · 10-18-2009, 01:35 PM

Makes me think of the first car I ever bought with my first job. 17% interest. Man was I suckered.

se7en · 10-18-2009, 01:39 PM

yep.... my first was 19%

Wow that was such a crappy deal!!1

Yellojacket · 10-18-2009, 01:46 PM

i got 4.69%/60 financing right at 30K. I went to my credit union first and got pre-approved at a rate of 4.99. The first rate the dealer came back with was 6.99% until I showed him my pre-aproval letter and he came back and said we can beat that at 4.69%.

All-Or-Nothing · 10-18-2009, 01:56 PM

Quote:

Originally Posted by bws_82

yep.... my first was 19%

Wow that was such a crappy deal!!1

Well the job sucked along with the pay. The worst part was the car was a base model, no radio, 5 speed Ford Escort costing about $8000 out the door.
Only option was an A/C. Didn't even have a passenger mirror.

Even tho I got jipped on the rate, that car never had 1 single problem ever. I swear that car has been more fun than anything I have owned. I still have it today.

Sorry for getting off topic.

OP--That is a good rate you got. With the credit crunch right now lot's of people won't get it that good.

Susantroy1 · 10-18-2009, 02:16 PM

Quote:

Originally Posted by butterfingers

I was pre-approved for $35K @ 3.98% 60mo through my bank. I'm wondering if my dealership could beat that.

Good rate

My dealer said what ever rate I could get to bring it in to him and he would work with the bank or may be able to beat which ever rate I had gotten. Allot of dealers are there to help and make the customers experience a good one

butterfingers · 10-18-2009, 05:06 PM

The cool thing is, my bank is one of the lenders that the dealership uses, so they should be able to match or beat. Chances are they should be able to beat it if they want me to use their lender. I hear that is where they make the money. I used to think it was the car ,but come to find out, its the finance.

Stay away from the accidental death policy's and other crap they try and push on you.

I'll first ask them to see what they can do for me and BAM!! gie them my quote from my bank and watch them squirm ... (hehe) Make these guys jump through hoops for a change.

HeavyD · 10-18-2009, 06:46 PM

Anything in the 3% range is pretty good. A friend of mine just got 3.1% on a non-GM car. When I do my math, at weekly payments, the difference from 3 to 3.5% is only a couple of bucks a week. 3 to 4% is only a few bucks. It started to get a little uglier at around 6 and 7% being about 15 - 20$ more a week. So I would be happy with anything under 4%. I don't know about the US, but here in Canada, with the recession now declared over, the banks are starting to hint at raising interest rates, so take what you can get now.

trm0002 · 10-18-2009, 09:40 PM

Quote:

Originally Posted by butterfingers

I was pre-approved for $35K @ 3.98% 60mo through my bank. I'm wondering if my dealership could beat that.

Good luck at your dealership beating that. It's an excellent rate IMO. I'm at 4.5%/60 mo. and I had to do a little fighting to get it with a credit score in the 750+ range across the 3 bureaus. That was 6 months ago though.

cwalms · 10-18-2009, 09:57 PM

Yep, 3.98% is a great rate. I was pre-approved at 4.9% from a CU out of state, and the dealer came in a 4.69%. There's hardly any difference in payment, but I went with the dealer to keep the money local.

Our1stCamaro · 10-18-2009, 10:30 PM

I was pre-approved for $38k @ 4.5 for 72mo. Im hoping my dealer could beat that.

Tsudy · 10-18-2009, 10:44 PM

Your deal is amazing - I wouldn't waste my time trying to find someone to beat 3.98%

10-18-2009, 01:24 PM	#1
butterfingers Drives: Rally Yellow Camaro 2LT/RS Join Date: Sep 2009 Location: Frisco Posts: 588	What is a good interest rate from a dealer? I was pre-approved for $35K @ 3.98% 60mo through my bank. I'm wondering if my dealership could beat that.

10-18-2009, 01:30 PM	#2
se7en Drives: 10 Procharged SS Join Date: Oct 2009 Location: The creek at the end of the dead end road Posts: 1,857	Better than my pr-approved $50K @ 6.0%, but im paying cash for my Camaro. I highly doubt that you will get a better deal than your offer right now. Just my 2cents Good luck!!! __________________ 10 Camaro: Built 376, LSA Heads, BTR valve train and Stage III Camshaft. F1A 12 Rib-3.75 pulley (17psi), Squash Dual Fuel System with Return (Dual Walbro 450LPH on a Hobbs Switch), Aeromotive regulator, Holley Fuel Rails, ID1300's. RMVB 4L80, 4K Stall, and Trans-brake. 9" IRS, 3.50 gears with a full spool

10-18-2009, 01:31 PM	#3
Cmaro214 Drives: 2010 ABM 1LT/RS Camaro "Blu Bruzr" Join Date: Oct 2009 Location: SouthWest Florida Posts: 596	3.98% seems pretty dam good. when doing estimate payment on gm website they give the gmac stand apr at 7.87 !! so maybe your rate is best way to go, but listen to other opinions i haven't even gotten as far as you yet. __________________ VIN: 2G1FB1EV6A9178865

10-18-2009, 01:39 PM	#5
se7en Drives: 10 Procharged SS Join Date: Oct 2009 Location: The creek at the end of the dead end road Posts: 1,857	yep.... my first was 19% Wow that was such a crappy deal!!1 __________________ 10 Camaro: Built 376, LSA Heads, BTR valve train and Stage III Camshaft. F1A 12 Rib-3.75 pulley (17psi), Squash Dual Fuel System with Return (Dual Walbro 450LPH on a Hobbs Switch), Aeromotive regulator, Holley Fuel Rails, ID1300's. RMVB 4L80, 4K Stall, and Trans-brake. 9" IRS, 3.50 gears with a full spool

10-18-2009, 10:44 PM	#14
Tsudy Drives: 2010 2LT/RS ABM Join Date: Jun 2009 Location: Fairfax, VA Posts: 206	Your deal is amazing - I wouldn't waste my time trying to find someone to beat 3.98% __________________ ABM, 2LT, RS+Polished, Automatic, Sunroof, Black Interior, White Rally Stripes 0000: 06/06/09 (order placed with dealer) Country Chevrolet 1100: 06/08/09 (preliminary order accepted) #NKMWTD 2000: 09/09/09 (order accepted by GM) 2500: 09/09/09 (order preferenced) 3000: 09/14/09 (order accepted by production control) TPW 09/28/09 3300: 09/20/09 (order scheduled for production) 3400: 09/23/09 (order broadcast) 3800: 10/01/09 (order produced) 4000: 10/01/09 (available to ship) 4200: 10/02/09 (shipped) 5000: 10/15/09 (delivered to dealership) 6000: 10/15/09 (delivered to customer)

10-18-2009, 01:35 PM	#4
All-Or-Nothing Account Suspended Drives: BMW 6 series Vert Join Date: Aug 2009 Location: Right Here Posts: 979	Makes me think of the first car I ever bought with my first job. 17% interest. Man was I suckered.

10-18-2009, 01:46 PM	#6
Yellojacket Drives: 2SS/RS Inferno Orange Join Date: Jul 2009 Location: Columbia, MD Posts: 373	i got 4.69%/60 financing right at 30K. I went to my credit union first and got pre-approved at a rate of 4.99. The first rate the dealer came back with was 6.99% until I showed him my pre-aproval letter and he came back and said we can beat that at 4.69%.

10-18-2009, 05:06 PM	#9
butterfingers Drives: Rally Yellow Camaro 2LT/RS Join Date: Sep 2009 Location: Frisco Posts: 588	The cool thing is, my bank is one of the lenders that the dealership uses, so they should be able to match or beat. Chances are they should be able to beat it if they want me to use their lender. I hear that is where they make the money. I used to think it was the car ,but come to find out, its the finance. Stay away from the accidental death policy's and other crap they try and push on you. I'll first ask them to see what they can do for me and BAM!! gie them my quote from my bank and watch them squirm ... (hehe) Make these guys jump through hoops for a change.

10-18-2009, 06:46 PM	#10
HeavyD Drives: 1SSRS RY L99 Join Date: Aug 2009 Location: Ontario Posts: 1,323	Anything in the 3% range is pretty good. A friend of mine just got 3.1% on a non-GM car. When I do my math, at weekly payments, the difference from 3 to 3.5% is only a couple of bucks a week. 3 to 4% is only a few bucks. It started to get a little uglier at around 6 and 7% being about 15 - 20$ more a week. So I would be happy with anything under 4%. I don't know about the US, but here in Canada, with the recession now declared over, the banks are starting to hint at raising interest rates, so take what you can get now.

10-18-2009, 09:57 PM	#12
cwalms Drives: 2SS Red Jewel Tint Join Date: Aug 2009 Location: Wisconsin Posts: 135	Yep, 3.98% is a great rate. I was pre-approved at 4.9% from a CU out of state, and the dealer came in a 4.69%. There's hardly any difference in payment, but I went with the dealer to keep the money local.

10-18-2009, 10:30 PM	#13
Our1stCamaro Drives: VR 2ssRs Join Date: Sep 2009 Location: Houston,Tx Posts: 177	I was pre-approved for $38k @ 4.5 for 72mo. Im hoping my dealer could beat that.

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