Toronto Area and Intrest Rates - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

branesti · 02-28-2009, 05:31 PM

So I went yesterday to local dealer and i wanted to order one. It came to 44,970 2SS 1ET37. but i was told the interest rate its 9.6. What Interest did u guys get quoted at? Is there a dealer that gives a better rate?let me know!
Also said that if i order now i would get the car in April.

PS which engine is better LS3 or LS99?

Mac1 · 02-28-2009, 05:55 PM

Interest rates seem to be lower in U.S. GMAC is about 7%. Credit unions can be cheaper by about 2.5% depending on each credit union and your credit score. The engines are the same. The LS3 is in the manual shift and the LS99 is with the automatic.

branesti · 02-28-2009, 06:02 PM

i figured that was the deal about the engines. but interest is simply bad. GM Canada doesn't use GMAC or something, so they use Canadian banks ohh man this is going to hurt....

Mac1 · 02-28-2009, 06:14 PM

What about a credit union? Any other options at all?

branesti · 03-01-2009, 11:06 AM

ahhh im not aware of any of those around. im sure there has to be.... ohh well ill probably have to wait a litle...

RickRay · 03-01-2009, 12:39 PM

Quote:

Originally Posted by branesti

i figured that was the deal about the engines. but interest is simply bad. GM Canada doesn't use GMAC or something, so they use Canadian banks ohh man this is going to hurt....

They do use GMAC in Canada! I bought my 98 Malibu back in 2001 at 9.95 %

branesti · 03-01-2009, 12:47 PM

yeah i know my dad bought one in 2007.... but its as of august/september of last year that they have canceled it......at 9.6 with like 5k down and 60months lookin at 850-900/month.. so much for my south america vacation....

TJ91 · 03-01-2009, 01:01 PM

i was told 5.9, i suree hope its not any higher then that or i am screwed

branesti · 03-01-2009, 01:10 PM

tj, dude... after u get ur's can you let me know which dealership it is...

TJ91 · 03-01-2009, 01:50 PM

No problem bud, ill go and confirm with my salesman again, i have made him confirm this twice already, but again because the interest rates above have made me feel worried. Let me know when you want to buy, ill definitly let you know everything, if your interested now, i will check and see if they have any free allocation, plus if i refer you, i think i might get some bonus

Just let me know when you would want more info bro

Kray · 03-01-2009, 02:11 PM

Quote:

Originally Posted by branesti

i figured that was the deal about the engines. but interest is simply bad. GM Canada doesn't use GMAC or something, so they use Canadian banks ohh man this is going to hurt....

I called GMAC last week and asked them about financing new vehicles and they told me that they still do it (they do not provide leasing anymore) but of course the interest rate would depend on credit rating. But, I don't think I mentioned I was calling from Canada.

The interest rate that my dealer is offering through a local bank is 6.9%...holy crap

branesti · 03-01-2009, 02:38 PM

hmm i guess i should just go to a different dealer....
I'm guessing this guy don't know what he was talking about than!!!!

trm0002 · 03-01-2009, 03:20 PM

Quote:

Originally Posted by Kray

I called GMAC last week and asked them about financing new vehicles and they told me that they still do it (they do not provide leasing anymore) but of course the interest rate would depend on credit rating. But, I don't think I mentioned I was calling from Canada.

The interest rate that my dealer is offering through a local bank is 6.9%...holy crap

Didn't you guys do your homework? Apparently not. Me thinks there are a whole bunch of people in for a whole world of hurt as these cars start to arrive and people finally sit down and "crunch the numbers".

I can't believe all the "I may have to downgrade..." comments already and I fear it's only going to get worse. I don't know why anyone would have 0% financing running through their head; it just isn't going to happen. 6.9%... holy crap<- that's about right- maybe just a little high.

Those who have access to credit unions are seeing rates as low as 4.25% but those are few and far between. IMO, anyone who is currently looking to "run some numbers" better be looking at 5.9% to be safe. Nothing against Kray; I just think you got the dose of reality that most people are refusing to see for some reason.

Kray · 03-01-2009, 05:40 PM

Quote:

Originally Posted by trm0002

Didn't you guys do your homework? Apparently not. Me thinks there are a whole bunch of people in for a whole world of hurt as these cars start to arrive and people finally sit down and "crunch the numbers".

I can't believe all the "I may have to downgrade..." comments already and I fear it's only going to get worse. I don't know why anyone would have 0% financing running through their head; it just isn't going to happen. 6.9%... holy crap<- that's about right- maybe just a little high.

Those who have access to credit unions are seeing rates as low as 4.25% but those are few and far between. IMO, anyone who is currently looking to "run some numbers" better be looking at 5.9% to be safe. Nothing against Kray; I just think you got the dose of reality that most people are refusing to see for some reason.

The question at the beginning of the thread was asking what kind of interest anyone else was quoted. I was just mentioning what I was quoted by my dealer, I won't be going through my dealer for financing.
I am able to get 3% through my bank...so that's the way I will be going.

02-28-2009, 05:31 PM	#1
branesti Drives: RENTALS/owned a Mustang gt Join Date: Dec 2006 Location: Toronto Posts: 12	Toronto Area and Intrest Rates So I went yesterday to local dealer and i wanted to order one. It came to 44,970 2SS 1ET37. but i was told the interest rate its 9.6. What Interest did u guys get quoted at? Is there a dealer that gives a better rate?let me know! Also said that if i order now i would get the car in April. PS which engine is better LS3 or LS99?

02-28-2009, 05:55 PM	#2
Mac1 Drives: 2004 Malibu Join Date: Jan 2009 Location: New York Posts: 362	Interest rates seem to be lower in U.S. GMAC is about 7%. Credit unions can be cheaper by about 2.5% depending on each credit union and your credit score. The engines are the same. The LS3 is in the manual shift and the LS99 is with the automatic.

02-28-2009, 06:02 PM	#3
branesti Drives: RENTALS/owned a Mustang gt Join Date: Dec 2006 Location: Toronto Posts: 12	i figured that was the deal about the engines. but interest is simply bad. GM Canada doesn't use GMAC or something, so they use Canadian banks ohh man this is going to hurt....

02-28-2009, 06:14 PM	#4
Mac1 Drives: 2004 Malibu Join Date: Jan 2009 Location: New York Posts: 362	What about a credit union? Any other options at all?

03-01-2009, 11:06 AM	#5
branesti Drives: RENTALS/owned a Mustang gt Join Date: Dec 2006 Location: Toronto Posts: 12	ahhh im not aware of any of those around. im sure there has to be.... ohh well ill probably have to wait a litle...

03-01-2009, 12:47 PM	#7
branesti Drives: RENTALS/owned a Mustang gt Join Date: Dec 2006 Location: Toronto Posts: 12	yeah i know my dad bought one in 2007.... but its as of august/september of last year that they have canceled it......at 9.6 with like 5k down and 60months lookin at 850-900/month.. so much for my south america vacation....

03-01-2009, 01:01 PM	#8
TJ91 :chevy: Drives: 2LT/RS Join Date: Jun 2008 Location: Toronto Posts: 13,033	i was told 5.9, i suree hope its not any higher then that or i am screwed

03-01-2009, 01:10 PM	#9
branesti Drives: RENTALS/owned a Mustang gt Join Date: Dec 2006 Location: Toronto Posts: 12	tj, dude... after u get ur's can you let me know which dealership it is...

03-01-2009, 01:50 PM	#10
TJ91 :chevy: Drives: 2LT/RS Join Date: Jun 2008 Location: Toronto Posts: 13,033	No problem bud, ill go and confirm with my salesman again, i have made him confirm this twice already, but again because the interest rates above have made me feel worried. Let me know when you want to buy, ill definitly let you know everything, if your interested now, i will check and see if they have any free allocation, plus if i refer you, i think i might get some bonus Just let me know when you would want more info bro

03-01-2009, 02:38 PM	#12
branesti Drives: RENTALS/owned a Mustang gt Join Date: Dec 2006 Location: Toronto Posts: 12	hmm i guess i should just go to a different dealer.... I'm guessing this guy don't know what he was talking about than!!!!