Best Auto Financing Rate (Used) - 5.55% Anyone know anything lower? | FerrariChat

Best Auto Financing Rate (Used) - 5.55% Anyone know anything lower?

Discussion in 'New York Tri-State' started by kenny1022, Mar 16, 2008.

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  1. kenny1022

    kenny1022 Formula Junior

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    Hey:

    Does anyone know a lower rate than 5.55% for a auto loan (used)? I got this quote from Bank of America...It's under 5% for a new car but the loan max is $100K.

    Thanks.

    K.
     
    kenny1022, Mar 16, 2008
    #1
  2. Dai Baracca

    Dai Baracca Formula Junior

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    WOW that is a GREAT Rate...5.55% Used from a dealer under 5 for new....maybe I should go to them!
    Thanks for the heads up
    S
     
    Dai Baracca, Mar 16, 2008
    #2
  3. kenny1022

    kenny1022 Formula Junior

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    kenny1022, Mar 16, 2008
    #3
  4. Dai Baracca

    Dai Baracca Formula Junior

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    Did a quick peak....was offered 5.38% on a new car 5 year paper.
    Capital One was also competitive but your limited to 50k.
    HSBC also offers decent rates esp. if you are a business customer....will chck them out......I dont really want to empty the piggy bank getting the new car...LOL....
    Banks are getting tighter loaning money......talk about closing the barn door after the animals have left....LOL
    Regards
    S
     
    Dai Baracca, Mar 17, 2008
    #4
  5. kenny1022

    kenny1022 Formula Junior

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    Bank of America seems the way to go. I just got a $100k loan for 4.74%. Definitely check them out.
     
    kenny1022, Mar 17, 2008
    #5
  6. DodgeViper01

    DodgeViper01 F1 Veteran

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    Those are some amazing rates!
     
    DodgeViper01, Mar 17, 2008
    #6
  7. Ciao Bello 348

    Ciao Bello 348 Formula 3

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    I can get you under 5.55% apr. What kind of car (year/model) and how many miles----AND---- How long is the term you want?
     
    Ciao Bello 348, Mar 17, 2008
    #7
  8. PizzaPrince

    PizzaPrince Karting

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    Do you own a home with some equity tied up.Why not do a home equity loan and write off the interest
     
    PizzaPrince, Mar 17, 2008
    #8
  9. kenny1022

    kenny1022 Formula Junior

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    FYI - with the Bank of America auto loan - be sure to call the 800 number (800-721-9654 x 5000) after submitting the application online and receiving a prequal. Ask for discounts on the rate you were given. I was able to drop mine from 5.94 to 4.74%.

    Good point about the Home Equity loan...Unfortunately, I just refinanced a little while ago and don't want to give anything more to my mortgage lender...
     
    kenny1022, Mar 18, 2008
    #9
  10. Bavarian Motorist

    Bavarian Motorist Formula Junior

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    Limited to $100k stinks :(



    I am a member of Washington Gas Light Federal Credit Union and I've gotten 4.9% :p
     
    Bavarian Motorist, Mar 18, 2008
    #10
  11. G-Gore

    G-Gore Formula Junior

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    Agree - talk to Johny... He got me 4.9% :)
     
    G-Gore, Mar 19, 2008
    #11

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