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

    Feb 10, 2008
    261
    Full Name:
    Kenny
    #1 kenny1022, Mar 16, 2008
    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.
     
  2. Dai Baracca

    Dai Baracca Formula Junior

    Mar 4, 2007
    584
    NY
    Full Name:
    SB
    #2 Dai Baracca, Mar 16, 2008

    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
     
  3. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    261
    Full Name:
    Kenny
    #3 kenny1022, Mar 16, 2008
  4. Dai Baracca

    Dai Baracca Formula Junior

    Mar 4, 2007
    584
    NY
    Full Name:
    SB
    #4 Dai Baracca, Mar 17, 2008
    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
     
  5. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    261
    Full Name:
    Kenny
    #5 kenny1022, Mar 17, 2008
    Bank of America seems the way to go. I just got a $100k loan for 4.74%. Definitely check them out.
     
  6. DodgeViper01

    DodgeViper01 F1 Veteran

    Oct 1, 2003
    6,867
    #6 DodgeViper01, Mar 17, 2008
    Those are some amazing rates!
     
  7. Ciao Bello 348

    Ciao Bello 348 Formula 3

    Oct 3, 2005
    1,844
    The Garden State, US
    Full Name:
    John C
    #7 Ciao Bello 348, Mar 17, 2008
    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?
     
  8. PizzaPrince

    PizzaPrince Karting

    May 11, 2007
    155
    New York
    Full Name:
    Giovanni
    #8 PizzaPrince, Mar 17, 2008
    Do you own a home with some equity tied up.Why not do a home equity loan and write off the interest
     
  9. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    261
    Full Name:
    Kenny
    #9 kenny1022, Mar 18, 2008
    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...
     
  10. Bavarian Motorist

    Bavarian Motorist Formula Junior

    Apr 10, 2007
    943
    Westchester/NYC
    Full Name:
    Mike
    #10 Bavarian Motorist, Mar 18, 2008
    Limited to $100k stinks :(



    I am a member of Washington Gas Light Federal Credit Union and I've gotten 4.9% :p
     
  11. G-Gore

    G-Gore Formula Junior

    Jun 13, 2004
    597
    Lyndhurst, NJ
    Full Name:
    Lukas
    #11 G-Gore, Mar 19, 2008
    Agree - talk to Johny... He got me 4.9% :)
     

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