Loan rates

[Matt'sSS]

Originally Posted by Dan2510

Why would you ever borrow against your home for a car?...not very smart.

Because you can write off the interest against your taxes, and pay it off just as quickly as a normal car loan at a lower rate.

Smart if you can actually do all that...

Now if you dont get as good of a rate, or try to pay it off over 30 years instead, then it's a really bad idea.

[mikenmar]

Got 3.75% from Navy Federal Credit Union. I filled out the online form in about five minutes, and they sent a check three days later.

[pag1164]

Bank of America had 4.39% for 60 months.

[Nova65]

yeah, boa also has 5.04 for 72 months, so on a 33,000 purchase your looking at $532/month

http://www.bankofamerica.com/vehicle...to_loans&type=

[PewterPhil]

Originally Posted by Nova65

yeah, boa also has 5.04 for 72 months, so on a 33,000 purchase your looking at $532/month

http://www.bankofamerica.com/vehicle...to_loans&type=

Yeah, I went to BOA yesterday and they were no help at all. Very glad that I do not have an account witht them as they seemed to be totally clueless. My credit score is mid 700's and I plan to put $12,000 down. Debt to income is less than 30% even after a new auto loan. They quoted me 9% APR. Whatever. I walked out.

My wife has roughly the same credit score and she just purchased a new GMC Acadia. Finance guy put us through GMAC and she was able to get 2.9% on a 72 month with just a trade in valued at $4000.00.

My debt to income is less than her's so I am hoping to get the same deal through GMAC or at least close. Should put my monthly payment in the low $500 range.

[SSOOCH]

A year ago when I got my 08 HHR SS I got 2.9% for 60 months through GMAC. The best GMAC could get me with financing $28k for my 2010 2SS/RS was 5.9% for 60 months.. And my credit score is 742 and my wife's is 728. Go figure.

[NeedMyFix]

I was also approved for GMAC for 5.89 with a FICO score over 800.

[marcajrfan]

gte federal credit unoin 4.25 77 months do direct payments 4.00% 1-888-871-2690 x40436 you can join after you apply for the loan they are out of tampa and do out of state. thats were we are going for our loan

[DevilKnightFalcon]

Correct me if I am wrong but aren't there certain qualifications you have to meet to get a loan from PenFed? Like you need to either be in the armed services, have a family member in them, or work for a very specific set of companies?

[SGOS252382]

Originally Posted by DevilKnightFalcon

Correct me if I am wrong but aren't there certain qualifications you have to meet to get a loan from PenFed? Like you need to either be in the armed services, have a family member in them, or work for a very specific set of companies?

I just got approved for a loan with PenFed online at 3.99 %. They're sending me a check made out to myself and the dealership.

All I did is donate money to the veterans fund (something like that). That gives you a 1 year membership. But I also transferred a little bit of money into a PenFed checking account.

So its easy and well worth it.

[rolnslo]

Originally Posted by NeedMyFix

I was also approved for GMAC for 5.89 with a FICO score over 800.

With a score like that you should have been able to get a better rate. Your dealer must have done a horrible job on your behalf or put you into the loan program that nets the most money for him.

My FICO is less than 800 but over 750 and I am at 5.27% for 72 mo through Capital One Auto Finance. I'll give my dealer a chance to beat it when my car arrives and we do the paperwork.