Interest Rates from dealer??

[Mullet Racer]

Anyone have an idea of what the interest rates will be on these things? Right now 2009 Vettes are 5.9 for 60 months and 6.9 for 72 for people with "good" credit. Just wondering if there will be any interest rate incentives for the Camaro - What do you guys think?

[trm0002]

Originally Posted by Mullet Racer

Anyone have an idea of what the interest rates will be on these things? Right now 2009 Vettes are 5.9 for 60 months and 6.9 for 72 for people with "good" credit. Just wondering if there will be any interest rate incentives for the Camaro - What do you guys think?

IMO, not a chance. What you see with the Vettes you will probably see with the Camaros. Usually when you see the 0% stuff it's for end of model year cars to help sell them before the new ones come in.

[nol300]

The 5.9% is only on 2008 model vette's not 2009 you will see no rates on the Camaro just like there are no special rates or incentives on 2009 Corvette's

[Sizzox]

Originally Posted by nol300

The 5.9% is only on 2008 model vette's not 2009 you will see no rates on the Camaro just like there are no special rates or incentives on 2009 Corvette's

I just got 0% on my 08 Vette. I think he's right. 5.9% for a 09 Vette

[nol300]

I am a dealer so 5.9% + 2,000 rebate on 2008 vette or forgive the rebate and take 0% /// 2009 Vette does not have a rate or rebate.....

[trm0002]

Originally Posted by nol300

I am a dealer so 5.9% + 2,000 rebate on 2008 vette or forgive the rebate and take 0% /// 2009 Vette does not have a rate or rebate.....

Forgive my ignorance but if someone came into your dealership today and bought an 09 Vette, could you not finance them through GMAC then?

[nol300]

I could but it would be standard would be higher I would just finance them through a credit union. The only time I would finance with GMAC is when they have an incentivised rate i.e. the 0% or like 4.9% because you can usually get cheaper money through another bank.

[SSOOCH]

Boy how times change, last March I got 2.5% through GMAC for my 08 HHR SS.....

[trm0002]

Originally Posted by nol300

I could but it would be standard would be higher I would just finance them through a credit union. The only time I would finance with GMAC is when they have an incentivised rate i.e. the 0% or like 4.9% because you can usually get cheaper money through another bank.

Thanks- understood. See, my impression when someone posts "what kind of interest rate will they have on the Camaro?", is I automatically equate them=GMAC.

There are always other lenders out there. Actually, of all the new cars I've bought (8, not hundreds) the only car I ever financed through the "automobile company" was the GTO through GMAC; all others were through local banks and one CU if I recall correctly. I did finance our company truck through GMAC also. In both GMAC cases, you just couldn't beat the rate, 3.9% because both also "gave you" $1500 for financing through GMAC at the time late in 04.

[nol300]

GM was not even financing anything a couple months ago they completly shut down and quit offering financing. So I am just glad they are offering anything again.

[Mullet Racer]

I just got a 2008 Vette for 1.9 for 72months - I turned down the 0% for 60months in fear of the economy, but I think times will be better soon. Question to the dealer - do you estimate rates will be 5.9-6.9 for the camaro through GMAC?

[PQ]

Originally Posted by nol300

I could but it would be standard would be higher I would just finance them through a credit union. The only time I would finance with GMAC is when they have an incentivised rate i.e. the 0% or like 4.9% because you can usually get cheaper money through another bank.

Question. I told my dealer to give me as much notice as they can so I could get financing before I come in and he told me they would prefer that I get it through them. I asked if they get some kind of incentive or do they lose anything by me coming in with financing allready and he said no, but they would prefer me get it through them. Does this make sense to you?

[kevin2323]

Originally Posted by irpq11

Question. I told my dealer to give me as much notice as they can so I could get financing before I come in and he told me they would prefer that I get it through them. I asked if they get some kind of incentive or do they lose anything by me coming in with financing allready and he said no, but they would prefer me get it through them. Does this make sense to you?

yea it means he prefers you to finanace through him so he can make the money off of the interest rate.. which will probably be rediculous

[nol300]

Originally Posted by kevin2323

yea it means he prefers you to finanace through him so he can make the money off of the interest rate.. which will probably be rediculous

Hey mister finance.......Credit unions most don't let you hold any rate and if the do it is a max of a 1/2 point so there is no rediculous markup on rate anymore. You can still do 2 points through banks hence why I said credit union.