Should I go for it?
Thread Starter
Pole Position
Joined: Apr 2013
Posts: 389
Likes: 3
From: Il
So if they have it listed for 22.2k and they said they can come down a little, you think 22k would be a good out the door price to offer? Even if I'm financing from them? Will the out the door price include the interest as well? If yes and let's say they agree on 22k, and I have 4k down payment then my total loan should be 18k? Thanks so much guys you are a lot of help.
Thread Starter
Pole Position
Joined: Apr 2013
Posts: 389
Likes: 3
From: Il
Ok so would 22k be a good out the door price, tell them I have cash? Also how would I go about finding a credit union I'm in Chicago
Rookie
Joined: Feb 2014
Posts: 51
Likes: 0
From: VA
^^^ Agree. They have a vested interest in charging you fees and a higher percentage rate since they make commission off loans. Try your bank first or even Capital One has a pretty easy online loan application. If you are military try Navy Federal or USAA. With a 4k down payment you shouldn't have any problem getting approved from your bank
Thread Starter
Pole Position
Joined: Apr 2013
Posts: 389
Likes: 3
From: Il
Awesome thanks, I have chase so I'll talk to them this weekend. What's a good interest rate for 5 years for a person my age 24 this may whose credit ranges from high 700s to low 800s, so from good to excellent?
Rookie
Joined: Feb 2014
Posts: 51
Likes: 0
From: VA
3% fixed or lower is great. The only thing you have going against you is the age of the car, some lenders have stricter requirements on age, mileage, etc but with your good/excellent credit and down payment you should have no problem getting a very competitive rate. Good luck!
Lexus Test Driver
Joined: Apr 2013
Posts: 815
Likes: 0
From: Florida
Chase will give you higher rate. It's my bank also and the lowest was double than credit union. I have excellent credit. They told me that their rate are higher cuz they are for profit.
I got 3.25 for 6 years from credit union but bought my car from private party and already paid it of in one year.
I got 3.25 for 6 years from credit union but bought my car from private party and already paid it of in one year.
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