Best Finance rates you can find available to all

[Stojanowski]

That’s actually not a bad idea.

Opportunity cost

 

[melvimbe]

The more money you put down on a loan instrument the less of a risk you are to the bank. You’re probably better off putting something like 20% down for an 80 LTV. PM if you want, and I can explain it to you.

Rates are low now (Whether it’s 1 or 2 percent who gives a ****), so it doesn’t really matter. The game the banks play is they increase the periods on the amortization to make up for the low interest (or they may ask for more money down). This is just in general for argument sake (individual circumstances may be different on a case by case basis).

I've seen some weird rates lately, or it seems that way. Generally, personal credit being equal, the more money down and the shorter the loan period, the better rate you're going to get. It seems like banks are realizing that while the loan is low risk, they aren't very profitable. They seem to be trying to incentivize larger loan amounts over longer periods of time with lower rates, in order to maximize the profit from the loan.

Yea, pretty much what you said, just looking at it from a different angle. I do have to wonder if rates will start rising as inflation starts rising rapidly. If you have the cash, it makes more sense to get a loan right now, even if you don't plan on investing that money. Money under a mattress set aside for loan payments does better than money in a savings account right now.

 

[Sephiroth]

Yea, pretty much what you said, just looking at it from a different angle. I do have to wonder if rates will start rising as inflation starts rising rapidly. If you have the cash, it makes more sense to get a loan right now, even if you don't plan on investing that money. Money under a mattress set aside for loan payments does better than money in a savings account right now.

Couldn’t agree more. You are correct, fine sir.

 

[Floyd554]

Just wanted to say to each there own when it comes to finance length. As long as you pay your bills it’s all good.

I personally appreciate hearing about PENFED CU. I can use their finance rates as a bargaining chip with banks In my area. Some have been willing to negotiate rates in the past and beat out competitors. I do plan on financing 84 months. I’ve never financed more than 54 months before. However, I’ll be retiring in a little over a year and plan on paying it off shortly after that. I just want to keep my payments low for now. Like I said….we each have are own circumstances.

The best advertised rate I’ve found in my area so far is 3.49% for 84 months. PSECU. (I haven’t looked real hard yet tho).

 

[Chris Taber]

I did contact University Federal credit union(page 8 of this thread) and confirmed like another member that as long as your loan value is less than the MSRP on the window sticker then they will drop 1.5% off of the 3.45% rate for loan terms of 66 months or more. After confirming that the 1.95% for 84 months was real, I joined.

 

[Stojanowski]

I did contact University Federal credit union(page 8 of this thread) and confirmed like another member that as long as your loan value is less than the MSRP on the window sticker then they will drop 1.5% off of the 3.45% rate for loan terms of 66 months or more. After confirming that the 1.95% for 84 months was real, I joined.

Like 1 dollar less than sticker?

 

[Chris Taber]

Like 1 dollar less than sticker?

Technically that would be less than 100% LTV which is their rule so why not haha.

 

[Thrush]

Hmm.

 

[Chris Taber]

@Thrush I called and asked them the same thing after looking at that screen and they said you can apply online and just say yes to those questions and once the loans moves through the process then the loan officer would take care of it on the backend if you are in another state. They can also help you apply for a loan over the phone.

 

[DillyDally]

So I just called UFCU in Texas and they said that the vehicle had to be purchased from a Texas dealership? Is that true or did I just talk to a square?

Dilly Dilly