So I'm looking at buying a vehicle and it's going to cost around $32k. It's a 2002 model year. I'm putting $14k cash down. I have one credit card that has a zero or near zero balance every month. I have a small townhouse mortgage (I just refinanced) and I file rental income (that pays the mortgage) on my W-2. I have never missed a payment on anything or utilities. I live in a vacation home on the lake that is very very cheap. I don't live in my mortgaged house.

I talked to my bank and the lowest interest rate they could give me was 9%. Payments would be around $460 for a 4 year loan.

The dealer wanted a higher rate. Both parties said because it was a 7 year old vehicle. Vechicle has 18k miles.

7/15/2009 5:00:32 PM

pay off the credit card and put the difference down

and shop around, possibly through a credit union

who do you bank with?

7/15/2009 5:10:26 PM

The card has $0 balance. Bank with Wachovia. Would still be leaving a good cushion in my bank account too with above mentioned down. I'm not related to any state employees so can't do credit union?

[Edited on July 15, 2009 at 5:14 PM. Reason : .]

7/15/2009 5:13:41 PM

hit up some credit unions!

7/15/2009 5:14:46 PM

SECU is offering 6.25% on used vehicle loans for anything 2004 or older. Shop around some other credit unions and you should be able to find something a damn sight better than 9%. Or do any of the online banks do auto loans? Their rates are often competetive. I know ING has gotten into mortgages but I don't think they do auto.

7/15/2009 5:35:59 PM

Any family in the military at all? USAA goes as low as 5.25

7/16/2009 5:31:15 AM

No direct family or cousins

They said they'll call me back this morning if they can do better...I think I'm going to have to walk on this one. Just pisses me off when I'm putting down almost half in cash.

7/16/2009 10:25:39 AM

Wow. If you go through Pentagon Federal Credit Union, they are offering 3.99%. Technically anyone can join, even if you don't have anyone in the family that's military.

1.Join National Military Family Association (NMFA) for $20
2. You are now eligible for PFCU membership.
3. Apply for loan.
4. $Profit!

https://www.penfed.org/howToJoin/overview.asp


[Edited on July 16, 2009 at 11:11 AM. Reason : .]

7/16/2009 11:07:53 AM

jesus, i got a better rate on an unsecured loan

7/16/2009 11:19:15 AM

They are still calling me to try and negotiate. I might look into that Pentagon Federal Credit Union. I just can't pull the trigger on the deal as it sits. I could pay it early with no penalty but still. I told em to start taking more off the price. We'll see /blog

7/16/2009 1:54:57 PM

What is this vehicle? It's somewhat pricey for being 7 years old and it has me wondering what it is.

7/16/2009 1:57:31 PM

what type car are you buying?

7/16/2009 1:59:26 PM

what type car are you buying?

7/16/2009 1:59:26 PM

what type of car are you buying?

7/16/2009 2:29:55 PM

it was colonel musturd in the dining room with the candlestick

[Edited on July 16, 2009 at 3:12 PM. Reason : just pay cash]

7/16/2009 3:11:52 PM

I told him no deal, won't disclose car because it was very hood rich.

7/16/2009 3:19:23 PM

Hood rich... wat? Does that mean you were gonna pay 32k for one of these...



And I'm kind of surprised you even found a bank that would finance something >5 years old. But maybe my bank is just a little bitch .

7/16/2009 8:00:52 PM

my credit union would have financed a 16 yr old vehicle for me

really depends on your credit, i think

7/16/2009 11:01:11 PM

Work in RTP or know someone who does?

http://www.rtpfcu.org/home/rates/loan

Used vehicle loans start at 5.75%

7/16/2009 11:24:19 PM

Quote :

"what type of car are you buying?"

7/17/2009 10:11:07 PM

i got in Truliant FCU by giving $20 to some mexican downs syndrome magazine or something
5.25% on a 07 cumminzz

no real credit before hand and 10% down. i think listing my 73 Dart sealed the deal though

[Edited on July 19, 2009 at 12:55 AM. Reason : better bring a flat bed and some wheels for that repo]

7/19/2009 12:51:34 AM

Financing an 02 sucks balls. I was looking at buying a Nazi coupe btw

7/20/2009 4:03:51 PM

which?

7/20/2009 4:50:47 PM

that interest rate seems pretty high, I bought a 95 and my rate was at 6.5%. SECU though.

7/20/2009 6:57:58 PM

secu is good

7/22/2009 7:04:45 PM

http://www.coastal24.com

anyone can join cfcu

7/24/2009 11:30:19 AM

my folks traded a altima in a leith today for hemi grand cherokee

got 5.25%

[Edited on July 24, 2009 at 11:34 PM. Reason : mopar/fiat to ya?]

[Edited on July 24, 2009 at 11:35 PM. Reason : got my first mexican/downs magazine the other day too!]

7/24/2009 11:34:13 PM

wtf is a 'nazi coupe'?

7/25/2009 12:56:11 PM

Any german coupe? (ie: BMW, Volks Wagon , Porsche, Mercedes Benz...)

7/26/2009 10:22:00 AM

http://www.google.com/search?hl=en&safe=off&q=%22nazi+coupe%22+bmw&aq=f&oq=&aqi=

7/26/2009 9:07:24 PM

secu has good rates

8/6/2009 9:11:55 PM

WE STILL WANNA KNOW WHAT KINDA FUCKIN RIDE THIS THING WAS.

8/6/2009 9:56:40 PM

a nigmobile

8/8/2009 6:30:26 PM

bump

4/18/2012 9:42:43 AM

I finance my cars with Electel Credit Union. Just got 2.99%

I think you either have to be an electric coop member or an employee though. I'm both.

[Edited on April 18, 2012 at 10:04 AM. Reason : 4000!]

4/18/2012 10:04:00 AM

Just bought a used vehicle financed through Pentagon Federal Credit Union for 60months at 1.99%

https://www.penfed.org/

I had to pay $20 to join some "support the troops" club to qualify to join. real easy and painless.

4/18/2012 10:35:34 AM

way to steal my thunder, lol. Sweet deal

4/18/2012 10:43:49 AM

a nazi coupe thats a 2002 and costs 32 grand..

only one answer here dumbasses. it's a 911.

Even AMGs from 02 don't cost that much.

4/18/2012 10:52:36 AM

^ that was almost 3 years ago

4/18/2012 12:10:44 PM

fail.

4/18/2012 12:15:48 PM

I'm kinda unhappy about SECU's current 5.25% rate regardless of credit. I may be in the market for a new car very soon and was hoping to go through them in order to keep things simple. Perhaps it is actually a good rate, but I don't think so.

4/18/2012 3:10:17 PM

^I just got a loan yesterday (personal unsecured since the car is salvaged/rebuilt), and Wells Fargo has better rates than NCSECU and other big chain banks.

[Edited on April 18, 2012 at 4:01 PM. Reason : for autos as well]

4/18/2012 4:01:19 PM

^^ dude.

check my above post. 1.99%


seriously, you cannot beat that.

[Edited on April 18, 2012 at 5:36 PM. Reason : .]

4/18/2012 5:35:40 PM

Capitol One Auto may have some good for you if you CALL them. Worth a shot.

4/18/2012 5:54:47 PM