Rockin rate on prius gen iii loan

Excellent! I only got a fixed, 5.7% from my Credit Union the end of May and then it went to 5.65 in June. I asked about Toyota Credit but it was only available for the close-out NHW20s.

I'd checked with a commercial bank, Regions, but they wanted more than 7% (what are they thinking!)

Anything funky about the terms and conditions? Is it some sort of adjustable loan? I wouldn't touch one of those.

I have to admit a certain amount of trepidation. When something sounds too good to be true, I get anxious. Near as I can tell, the best I could hope for would be a 4.75% interest reduction, which would save $550 in interest.

Bob Wilson

 

I went to the credit union today for car loan and I was shocked to get 4.45% rate which is a really good rate for me and my wife!! One time, we went to toyota to check out the 2009s and the sales man offered us 9% interest rate I was like...bye bye! Another toyota dealership offered us 7%...bye bye! Gotta love credit union :cheer2:

 

My Credit Union ( Golden 1 ) is offering 3.99% for 60 months. There is another that has been mentioned ( Pen Fed? ) offering the same rates. Great rates in this economy.

 

Wow! Excellent deals.

 

Thank you so much. Took me exactly 30 min for confirmation. 4.27% for 60 months. No prepayment penalty. My next day check (FedEx) was free!

 

Wow! Those are great rates! I got a %4.59 from my bank - I guess I should have shopped a little more - but time is money too

 

You may be able to apply for one of those loans to pay off the auto loan, and in effect, get yourself that low loan rate.

In my case, we bought ours with Toyota Financing last week, (week ago today, in fact), and will be paying it off in full (so to speak) next week, when I close on a HELOC (Home Equity Line of Credit), which allows me to have a Prime Rate loan, which is interest only (although I will still be making the payments that Toyota gave me, at $515 per month) for the life of my loan.

The two good things (at least in my situation) are that:
1.) The interest is technically mortgage interest, and as such is tax deductable for me.
2.) In the event of a Layoff (which has happened before to me in the IT side of the Finance industry), then I only need make the minimum Interest Only payment of about $88 bucks per month, so at least I would still be able to make that payment should something happen)

 

Just signed up as well with PenFed after researching many online. Dealership was unwilling to accept my CapitalOne check. We have 3.99% for 60 months. Accepted online and called customer service to
overnight the check. Very happy so far.

 

I used PenFed as well. Dealership had absolutely no issue with it. It's a cash deal to them.

 

Navy Federal Credit Union is offering auto loan rates as low as 3.75% (for 36 months loan) for their members.

Here's what it says on the link:

Get pre-approved today for a new auto loan with rates as low as 3.75% APR*. With a pre-approval, you'll get an excellent rate and increased bargaining power. You can also refinance another lender's loan to a lower rate or change its term.

• 100% financing includes taxes, title and tags
• Wide selection of rates and terms
• Guaranteed Asset Protection (GAP) available

It takes a couple of days or so to get the preapproval letter and draft check.

Also, Pentagon Federal Credit Union is offering 3.99% APR on car loans to members.

Semper Paratus!

-PLCEHOB

 

Capital One is on my bad side right now. I've had a credit card with them, never been late, tried to refinance my 2008 from my 7.9 with toyota that i got when I was 18 years old March 2008 when I bought it as a 19 Bday present to myself. They denied me.....I am now 20 my credit is in the 700's, never missed a payment or been late on anything and am living at home earning about 3000 a month....it should've been easy right?

 

Listen folks, if you can not qualify for membership in this credit union and thus be able to apply for an auto loan, you have got to be DEAD!!! Anyone w/ ANY connection to the military can join for $5! I invoked the name of my long deceased stepfather who was in the Army during WWII as eligibility in penfed. Not too many folks can beat 3.99% for 60 months!

 

3.99% is available on USED vehicles!!! Currently 4.75% is the rate being offered on new cars - as of 9 AM, 6/13/09 (excellent credit rating, by the way, may or may not effect the actual rate).

 

Thanks, Martin37. I was able to join PenFed online in about 5 minutes, with the qualification of my Dad's army service. Very easy to do, and their rates look very good.

 

Don't feel bad about being turned down in this market. I have a credit score of ....845...yes 845 and was turned down by 2 lenders! Another lender decided to take a chance on me. HAHA

 

I also got Capital One for 3.7% for 36 months.