Financing
Thread Starter
Racer
Joined: Jun 2006
Posts: 382
Likes: 0
From: San Mateo Ca
Financing
Plan on purchase in a couple of weeks with my granted GMID I recieved from one the kindess forum members. I plan on trade in my car 2003 G35 Sedan with 19.5k miles with $5k down. Blue book on the G35 is $20,6XX, hoping to get $20K or I have to re-think about the purchase. My question was should I get financing about $18k through Credit Union or do you think the dealer can give me a lower interest since it is purchase on new car with GMID? $20k trade in + $5k down = $25K off of GMID price on a 2006 1lt auto $41,198.
Team Owner
Joined: Jul 2003
Posts: 25,244
Likes: 451
From: Sun Coast of Florida
St. Jude Donor '03-'26
A lot depends on your credit score. Normally a CU will offer a lower rate than dealers, but sometimes dealers are the same or a little lower. Shop around and see who is the lowest.
Thread Starter
Racer
Joined: Jun 2006
Posts: 382
Likes: 0
From: San Mateo Ca
My credit score is excellent mid 700's. I just remember the dealer telling me they can maybe give me a lower interest rate then my Credit Union. I wonder why the dealer was presistant on financing through them? Do they add extra percentage points to the deal for themselves? I dont own a home, I just rent. Corvette first
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Instructor
Joined: May 2006
Posts: 107
Likes: 0
From: Walnut Creek California
St. Jude Donor '09
from what i have heard credit unions will give you the lowest rate compared to GM or the dealership.... my brother has bought 2 cars both financed and has used a credit union!
Hope this helps!
Hope this helps!
