Financing

[bigted83]

Oh, I guess a gm dealership doesn't offer that ?

[brantley847]

Originally Posted by SuperFly03

My credit is still jacked over a $30 argument with AT&T. It took 200 points off my credit

Seriously. $30 argument.

Holy s---..remind me to never piss off AT&T

[brantley847]

Originally Posted by bigted83

Oh, I guess a gm dealership doesn't offer that ?

Most GM dealerships contract through Bank of America...but like others have stated they seem to add a 1-3% increase for their take.

BOA offered me 4% for auto and mortgage. The dealership wants to tie me into 5.6 through the same BOA....

I have heard horror stories about some dealerships giving sh-t to people who show up with a check in hand because they wouldn't finance through them. I certainly hope this does not happen to me, I just can't see how they wouldn't take a check for 40k. Again, It has not happened to me...but have heard it on these forums in the past..eventually the dealer often gives in.

[SuperFly03]

Originally Posted by brantley847

Most GM dealerships contract through Bank of America...but like others have stated they seem to add a 1-3% increase for their take.

BOA offered me 4% for auto and mortgage. The dealership wants to tie me into 5.6 through the same BOA....

I have heard horror stories about some dealerships giving sh-t to people who show up with a check in hand because they wouldn't finance through them. I certainly hope this does not happen to me, I just can't see how they wouldn't take a check for 40k. Again, It has not happened to me...but have heard it on these forums in the past..eventually the dealer often gives in.

They get upset because you nuke a significant source of money for them. At at 3% margin on a $25k loan you are robbing them of around $2000 in income. So now they have to try and make it up in negotiating your trade in price or sticker price on the new car.

If you sell your car to carmax or something then you are really really messing with their income. haha.

[brantley847]

Originally Posted by SuperFly03

They get upset because you nuke a significant source of money for them. At at 3% margin on a $25k loan you are robbing them of around $2000 in income. So now they have to try and make it up in negotiating your trade in price or sticker price on the new car.

If you sell your car to carmax or something then you are really really messing with their income. haha.

I am curious then if I will get some resistance....

I sold my car in family and wont be financing through them. Although they shouldn't bitch..they got me right at MSRP so who knows.

How would anyone handle it..or how COULD you handle it if your car was delivered and they refused to accept the check? I can't imagine but we will see..

[paytnom]

Originally Posted by Qtrofablock

Thanks , I'm actually gonna start looking into it soon. I also have a cap 1 card, they sent me an email offering a 40000 auto loan at 3.0% 4 qualified buyers?

Watch the e-mail from Cap One - 3.01% is for 36 mo., but their other rates are nearly as good: 3.41% for 60 mo. Best I could find a credit union for was 4.24% for 60 mo.

[superdave99]

Credit Union

[formare]

Originally Posted by paytnom

Watch the e-mail from Cap One - 3.01% is for 36 mo., but their other rates are nearly as good: 3.41% for 60 mo. Best I could find a credit union for was 4.24% for 60 mo.

I have capital one financing on mine 3.4 sounds pretty close - I had zero down though. I think my payment is right around 540.

[Stett]

Originally Posted by brantley847

I am curious then if I will get some resistance....

I sold my car in family and wont be financing through them. Although they shouldn't bitch..they got me right at MSRP so who knows.

How would anyone handle it..or how COULD you handle it if your car was delivered and they refused to accept the check? I can't imagine but we will see..

I'm leaning towards selling my trade privately, based on blue book values i'd get probably another 1-1.5k out of it that way compared to trade in.

I was planning on pulling a few quotes from banks for an auto loan closer to time of delivery. If I brought in a handful of preapproval letters from say BoA or Chase with x% APR for 72 months to the dealer when the Camaro gets in, how likely would the dealer be to offer to match it?

[brantley847]

Originally Posted by Stett

I'm leaning towards selling my trade privately, based on blue book values i'd get probably another 1-1.5k out of it that way compared to trade in.

I was planning on pulling a few quotes from banks for an auto loan closer to time of delivery. If I brought in a handful of preapproval letters from say BoA or Chase with x% APR for 72 months to the dealer when the Camaro gets in, how likely would the dealer be to offer to match it?

All I can tell you is go to courtesy by OIA not colonial.

[dantheman86]

Pentagon Federal Credit Union currently has a 2.99% interest rate deal. Their normal rate is 3.99%. If you're not eligible to become a member by its normal criteria (military, family member in military, etc.), you can pay a nominal one-time fee and become a member of the National Military Family Association which then makes you eligible. I have used them for 3 auto loans, and have nothing but great things to say about them.

http://penfed.org