What did you pay for your FL5?

[Rhorn]

Here's a freebie. Happy Holidays!

https://www.towerfcu.org/borrow/loan-rates/#auto-loan-rates

Hmm. I just applied so we'll see what happens.

Im not a member and it looks like it'll cost me a total of $60 to open up an account. My current interest rate is 5.01% with Bank of America and its pretty much the lowest you can get unless you are a preferred rewards member (which I was until I got my Mustang ) So we will see

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[CTR39322]

I’ve always used my job‘s credit union for my car purchases. Currently my 21 CTR is at 1.49%, I went in for a pre approval for a FL5, they will only finance based on MSRP. When I told this lady that there were people paying 20k over MSRP for this car, she almost fell off her chair.

 

[CyberCTR]

Just secured a RR for 60k OTD without accessories. Not extremely happy about the price, but it was the highest I would go. I plan to have it for a long long time so it’s easier to swallow. They wanted more initially but I got it marked down 5k.

I do have to have it transported to me because I got it from a dealer in upstate New York. So that will add another 1500$ most likely.

Glad to finally have one locked down. Hopefully it gets here soon!

 

[Jflorio]

I work for a dealer selling cars. Even with 800 credit score, you are still looking at a 4-6% interest rate due to inflation and FEDs raising the rates to slow down spending. 4 percent would assume a credit union, or if you are buying a car from a manufacturer that offers low financing rates. You'll never find anything below 4% with the market conditions we are in right now. Unfortunately, that's just how the story goes until next year.

Guess it depends on the part of the country. I’m in SC and I was locked at 2.3 until 1 December. Currently at 3.3, so under 4% is definitely possible. If you live in a metropolitan area I’m sure the rates will be higher.

Additionally, my sales tax is capped at $500 and I don’t pay personal property tax on vehicles because I’m military. Makes paying a $10k ADM tolerable

 

[CyberCTR]

Got 4.49% over 60 months for 45k. From my large credit union.

They initially didn’t approve it and only wanted to approve 39.5 for some reason but I told them what MSRP was and then they quickly approved it after.

 

[Integra23]

My Acura dealership referred me to a credit union and said it would be cheaper than going through them. Worked out well.

 

[ElDuder]

My Acura dealership referred me to a credit union and said it would be cheaper than going through them. Worked out well.

This is correct. In my experience credit unions do offer better financing rates. Of course your mileage may vary depending on credit score and finances.

What is real scummy is some Honda dealers won’t sell you a Type R unless you finance through them which is a higher rate. IMO this should be illegal but it is what it is I guess.

 

[Geezer]

Generally if you are member of the clergy you don't pay tax I did think about becoming a state certified warlock my wife at times already acts like a witch

Dealerships markup bank rates to make money that is why they want you to finance through them. Also allows them to pitch you additional products that you can then roll into the loan they secured on your behalf. Can't sell you that warranty/tire and wheel/whatever else if you are bringing them a check for a specified amount from your Credit Union.

 

[daazn]

Got 4.49% over 60 months for 45k. From my large credit union.

They initially didn’t approve it and only wanted to approve 39.5 for some reason but I told them what MSRP was and then they quickly approved it after.

Sounds an awful lot like NFCU

 

[CyberCTR]

Sounds an awful lot like NFCU

How'd you know?

 

[branz]

How'd you know?

Did you go into a branch or apply online? They did the same thing with me on the limit because they couldn't verify the VIN

 

[ssheff55]

Did you go into a branch or apply online? They did the same thing with me on the limit because they couldn't verify the VIN

My CU won’t close the loan yet for the same reason. They approved the amount, but won’t close until they get a picture of the window sticker. They use JD Power, and it does not pull in their system yet.

 

[CyberCTR]

Did you go into a branch or apply online? They did the same thing with me on the limit because they couldn't verify the VIN

Yeah the VIN wouldn't verify, but I did everything online. I was just communicating through them over messaging. And after I told them what MSRP was they approved it right after.

 

[CaryH]

58,882.24 otd not financed no trade in dealer add on included.

 

[daazn]

How'd you know?

Cause I had the same issue lol

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