Looks like the "good rate" out there from Capitol One or ELoan is about 5.75%. What kind of rates are you guys getting quoted? My credit score is over 750, so usually I can get whatever good rates that are available. I'm usually "surprised" that the finance guy at the dealer can usually beat the rate by a half a point or so.
If you or a family member has an association with the Navy, check out Navy Federal Credit Union....2.9% on car loans. It's an incredible rate. I'm waiting to find out if I'm enough of a contractor to join.
5.24 back in october with an 'excellent' credit rating. i think rates are going back up... haven't really looked since the refi went through. see if you can't get a discount for automatic withdrawal from your account.
4.575. Would have been a quarter percent lower back in September, and a quarter higher if we hadn't taken delivery today.
Ended up with 4.99% from addison avenue FCU 60 months. I belive 36 month would be 4.49%, signed on 1/3.
The credit unions would be slightly lower but there are requirements that need to be met to join them. The cheapest online would be ELOAN and Capital One but only if you go through Sam's Club and Costco respectively. The ELOAN/Sam's club deal is slightly better than the CO/Costco deal. Since I have a membership with Sam's I got the 5.35% for 60 months. Alex
I locked the rate at 5.2% from Costco- CapitalOne a month ago. When I bought the car on last Sunday, dealer (Stockton Toyota) didn't like the CapitalOne so he matched the rate with his bank.
Right now, ELOAN/Sams is slightly lower than CapitalOne/Costco. Rates keep going up so lock in the rate now and you can use these checks 45 days later. Alex
Best so far is my credit union at 4.99% (if I do auto-payment). I have approval at that rate. FWIW, most credit unions now allow anyone to join who lives in the area, so its worth a check with them prior to arriving at the dealership. The last two cars we bought, the finance manager was able to secure a loan at a quarter point lower. In this round, we have gone from eLoan at 5.65%, to Capital One who first quoted 5.5%, then went down to 5.20%, and now my credit union (Telesis, at http://www.telesiscu.com) at 4.99%. I'll be pretty happy if I can get it a quarter point below that at the dealership!
I got quoted 5.25% from Toyota Financial in July 2005. Best rates are from Credit Unions (3.25% at Northrop Grumman). If you can somehow become a member (either you work for companies that associate with the credit union or a member of your family has to), I'd recommend it.
<div class='quotetop'>QUOTE(fshagan @ Jan 2 2006, 06:59 PM) [snapback]183197[/snapback]</div> Seems like Canadian rates are significantly higher, but then what else is new? <_< Toyota Canada quotes 7.05% (!) on their website for any popular or new vehicle, such as the Prius or 07 Camry. My bank (TD Canada Trust) tells me 60-month loans are currently going at 6.5%. I was at a dealer on Saturday, and he tells me the TFS rate is 6.45%. As bad as that sounds, it seems the best I am going to find. Any other Canadians with a better experience? Thanks. Kevin
<div class='quotetop'>QUOTE(uclabruins @ Apr 23 2006, 10:13 PM) [snapback]244126[/snapback]</div> I got 5.95% from Capitol One on a 60 month loan that I obtained on March 28, 2006. Gary 2006 Prius
Save or invest until you have accumulated the price of the car, then pay cash. You'll reduce the cost by several thousands.
<div class='quotetop'>QUOTE(richard schumacher @ Apr 24 2006, 10:27 AM) [snapback]244227[/snapback]</div> Sounds great in theory, but unfortunately is not always practical for everyone. Personally, over two years I have saved up almost 30% of the value of the car while simultaneously pouring money into my current car, but unfortunately with the mileage I do, my current ride won't last me enough time to make it to 100%. As the car ages and repairs increase, there comes a point where it makes more economic sense to dump the old car and take the new car, even if it costs a couple thousand in interest, which otherwise would have gone into repairs anyway. My game plan is to take advantage of the slow(er) depreciation of a vehicle like this and keep putting aside money once it is paid off, and pay the next car in cash with the trade/sell. Kevin
Digital Federal Credit Union in eastern Massachusetts offers those with the best credit 5.70% on a five-year loan and 7.20% on a seven-year loan of up to 120% the value of a new or used vehicle (add .50% without Direct Deposit and electronic payment), plus get $100 cash back on a new or transferred loan over 10K. That's just $15.19 per thousand per month for seven years on a new Prius! And perhaps you can transfer even transfer some high-interest credit card debt into the low-interest car loan. http://www.dcu.org/prodserv/r_auto.html
3.5% for 36 mo, 4 weeks ago, from a local credit union. Since I'm earning 4.5% on a lowly savings account, why pay cash? Arbitrage on the car loan!
<div class='quotetop'>QUOTE(BayouBulldog @ Apr 24 2006, 08:25 AM) [snapback]244209[/snapback]</div> its up to 6.05% now.
<div class='quotetop'>QUOTE(bagwell @ Apr 24 2006, 12:02 PM) [snapback]244270[/snapback]</div> Any new rates around? Got 6.05% from Capital One, called local credit unions and they're MUCh higher. Even called Energy Credit Union in eastern MA, but I'm too far away for them. Should ahve my new Prius in a couple weeks! Peteski
