8WOOD
Full Access Member
- Joined
- Oct 31, 2014
- Posts
- 427
- Reaction score
- 631
1. If you make 100k a year and 100k in savings, why not just buy it outright and saved like 3000-5000 dollars in interest.
2. If you have great credit score, shop around for you loan. Once you pull your credit score for a vehicle, you can shop around for 3 weeks and have any bank pull your credit specifically for vehicle loans and it won't ding you for multiple hard checks.
3. If you have a credit score of 750 or above and historical background of large loans, you will be able to find 7 year loan below 1.5%. Most likely this will be found at a credit union.
4. I make 120K a year, my wife makes 60k, we own a home, and my credit score was around 800 when I took my loan out for a 2017 GT350. Ford wanted 5%, my bank wanted 3%, and several credit unions were between 1.00 and 3.00. I opted for a CU % that spreads an equal amount of interest across each payment of the loan. I picked this choice because i'll sell the GT350 within 2 years and that way I've payed much more of the principle. Standard financing practice is to load the interest loans at the start of the loan.
2. If you have great credit score, shop around for you loan. Once you pull your credit score for a vehicle, you can shop around for 3 weeks and have any bank pull your credit specifically for vehicle loans and it won't ding you for multiple hard checks.
3. If you have a credit score of 750 or above and historical background of large loans, you will be able to find 7 year loan below 1.5%. Most likely this will be found at a credit union.
4. I make 120K a year, my wife makes 60k, we own a home, and my credit score was around 800 when I took my loan out for a 2017 GT350. Ford wanted 5%, my bank wanted 3%, and several credit unions were between 1.00 and 3.00. I opted for a CU % that spreads an equal amount of interest across each payment of the loan. I picked this choice because i'll sell the GT350 within 2 years and that way I've payed much more of the principle. Standard financing practice is to load the interest loans at the start of the loan.