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#11
08-16-2005, 05:51 PM
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Re: car financing, used vs new (advice wanted)
Last month capital one gave me 7.29% with a similar fico score. The Toyota Financing gave me 5.35% - they pulled my credit the next day and it was 709 for them (I think they used TransUnion).
This was a 13K loan for a 22K car at 5 years. 
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#12
08-16-2005, 05:54 PM
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Re: car financing, used vs new (advice wanted)
i have a 737 and got 7% on a 48,000$ loan with only 5000 down... you can do much better
some hints: see if adjusting your down payment changes things see if you can get points off for automatic withdrawal
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#13
08-17-2005, 04:32 PM
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update
I was about to apply for the E-Loan, but at the end there is a part where instead of just checking a check box to opt out of being hassled by offers of some kind, they actually want to make you enter a whole bunch of contact info to go on a list to not be bothered....I decided f-that, so I didn't apply.
Filled out the Capital One online application and they're sending me their "blank check" at 6.65%. Hopefully, I will be able to do better through the dealer, but at least that gives me an option. Thanks for the responses.
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#14
08-17-2005, 04:34 PM
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Re: car financing, used vs new (advice wanted)
[ QUOTE ]
The whole idea of "interest rates" for car shoppers is a scam. Your goal should be to minimize how much actual cash you pay out on a regular basis, not to try to minimize some theoretical interest rate. Go to the Honda dealer and tell them that you're not falling for the interest rate/sales price mumbo jumbo they usually throw out new car buyers - you're only interested in what kind of monthly payment they can work out. Once they realize that you're financially astute, they'll cut all the bullshit and give you a good deal - probably a 60-84 month loan with pretty low monthly payments. [/ QUOTE ] Nice.
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#15
08-17-2005, 11:23 PM
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Re: car financing, used vs new (advice wanted)
I heard some really good advice about buying a car and recently tried it out on another big ticket item and it works:
1. Do your research and pick a car (yes, used. new cars are a silly purchase) 2. send out faxes or emails stating your desired terms (duh, get financing elsewhere beforehand) 3. haggle the best two offers, playing them off each other to get 'em both down to your liking 4. choose best one
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