VRMMMM

My car is set to be delivered to the dealer on 11-15-13. I am purchasing the car through my company that I own. I am approved through my dealer, but the best they can do is 4.99%

Can anyone recommend a bank that has better rates?

My credit union has 2.25%, but they will only do personal financing, and I would not be able to put the car in my companies name, so that doe not work.

red2012

I know this is not the answer but I am just curious to this question. How is it that some of you guys ( and you are not the first one ) order cars and they are ready to come in and you don't have the financing already in place? It really is mind boggling.

drburns

I've been shopping for financing already and my car is probably 2 months away. I found 2.39% at Bank of America and 1.99% through road loans. That's with excellent credit and about 10% down. They won't give the loan until a vin is produced, but figure I'd start looking early to get the best deal.

VNAMVET

1.90 for 72 months w/Bank of America. Financed $30k.

TX Navy Vet

0.99% for 72 months.

Navy Federal Credit Union

SCM_Crash

Credit unions usually have great rates, OP.

My bank told me the offer only stands for 30 days and then I have to reapply for the loan. I couldn't figure out the right time to strike because I wasn't sure when my car would arrive. Of course, this was before Vettes were getting pumped out quickly. I ordered in May, expected my car in late November (from what the dealer told me) and got it in October. So I had to rush my financing last minute. If I'd done everything ahead of time, as you suggested, I wouldn't have known if I'd be redoing my loan application over and over until the car came in.

TX Navy Vet

Couldn't you have waited until it was bayed then you know it will be delivered in a couple of weeks?

LS6GXP

I think he did say that he was already approved from the dealer just looking for better rates... What is mind boggling about that?

SCM_Crash

No. I wasn't sure if the car was going to TN or not.

Achmed

When you guys shop for pre-approvals and rates at various banks prior to your C7 arriving, does each check count as a hard inquiry and lower your score? Or can you get a rate quote and credit check without it affecting your score?

KenHorse

Any time your credit is pulled, it's a hit against your score, yes

JRBurn

Chase gave me 2.29%

uwec86

You may talk to your CPA and ask him if you can put the car in your own name and still write it off. I have a sub S corporation and I write my car off even though it's in my personal name.

red2012

Ok better still. Trying to renegotiate at the last minute when he knew well in advance what the circumstances were and now he can't even get a loan in his company's name when he should have known that in advance also.

red2012

Your allowed as many as you want in a 14 day period and it will count as one inquiry and is considered "rate shopping ". Same goes for mortgages.

sandu002

Once I had the vin #, I went to my Bank of America and got 1.89% for 60 months for 35k. Dealer offered 2.9%.

brandin10

Most banks will only give you 30 days on your application. After the 30 days are up you would need to apply again. So when you order a car that is 2-3-6 months? away then you don't have much choice but to wait until the car is close to arrival.

brandin10

every inquiry affects your score. But recently they classify certain inquiries as "soft" inquiries. Which do less damage to your score.

Greg00Coupe

Rates bounce around. I take the easy way. A day before I pick up a car I go thru the dealer and it works for me. October 8th on the C7 got 1.59% for 48 months with Capital One thru the dealer.

Only research I did was lease vrs buy and I can tell you the car is too new to justify a lease deal.

speedlink

2nd that,