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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.

  1. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    255
    Full Name:
    Kenny
    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.
     
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  3. Dai Baracca

    Dai Baracca Formula Junior

    Mar 4, 2007
    314
    NY
    Full Name:
    SB

    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
     
  4. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    255
    Full Name:
    Kenny
  5. Dai Baracca

    Dai Baracca Formula Junior

    Mar 4, 2007
    314
    NY
    Full Name:
    SB
    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
     
  6. kenny1022

    kenny1022 Formula Junior

    Feb 10, 2008
    255
    Full Name:
    Kenny
    Bank of America seems the way to go. I just got a $100k loan for 4.74%. Definitely check them out.
     
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  8. DodgeViper01

    DodgeViper01 F1 Veteran

    Oct 1, 2003
    6,761
    Those are some amazing rates!
     
  9. Ciao Bello 348

    Ciao Bello 348 Formula 3

    Oct 3, 2005
    1,805
    The Garden State, US
    Full Name:
    John C
    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?
     
  10. PizzaPrince

    PizzaPrince Karting

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

    kenny1022 Formula Junior

    Feb 10, 2008
    255
    Full Name:
    Kenny
    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...
     
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  13. Bavarian Motorist

    Bavarian Motorist Formula Junior

    Apr 10, 2007
    940
    Westchester/NYC
    Full Name:
    Mike
    Limited to $100k stinks :(



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

    G-Gore Formula Junior

    Jun 13, 2004
    597
    Lyndhurst, NJ
    Full Name:
    Lukas
    Agree - talk to Johny... He got me 4.9% :)
     

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