Lancejoker

Hey guys. Let me start by saying I'm not really sure if this is the right place for this thread. Mods please move if it is in the wrong spot.

It took 2 years but regret and withdraw have finally set in after getting rid of my C5. I've been talking with my wife about it a lot lately and we have decided to start looking for a C6Z. We're currently looking for a couple cars but I'm also shopping around for the best auto loans. So I was wondering who do you guys use for financing your Z. Thanks for the help guys.

Random84

You just have to make calls. PenFed is popular (you can be a member even if not military from what I understand), but Bank of America is currently very competitive so it's just a matter of cold-calling and seeing who offers the best rates. Wells-Fargo is middle-ground and Chase bank has always been high when I looked.

You'll generally want to have the car picked out first as quoted rates will vary by model year, mileage and dealer/private seller: there's usually a 0.50% rate difference between dealer and private sale; and the rates creep up for cars 3-4 years old or more. Generally, over 5 model years and you run into loan caps, etc depending on how much you want to finance.

If you use a dealer, you can always ask and see what they offer through their lenders but in my experience the rates are almost always better 3rd party (meaning you find your own lender ahead of time). It's a bit of a hassle though.

gatti-man

Penfed is doing 1.5% on used cars I believe. That's what I got.

lilredvette05

I would also suggest maybe going to your local credit union..... They usually have better rates then banks and also some are not that strict on year,miles,etc. Mine was great!! Even helped me with average credit lol

muscle cars

Are you a AAA member? I have had great
success with them in searching out the best
deal amongst banks. I also agree with using
a Credit Union. Triple A secured my loan with
a credit union and it was the lowest rate and fees.

Raul

Zee0hSix

Dealers make more on financing than they do on the car/truck itself.

Just like the car price, you can negotiate the interest rate. Don't know about other states but in Pa the dealer can tack on up to 2% interest, if you have a great credit score that would almost double your interest rate.

Lancejoker

ZeeOhSix,that's exactly what I'm trying to avoid. Its amazing how they can get away with this stuff. Really trying to get in the best situation possible. I have great credit so I'm trying to be smart and make that credit go as far as possible.

To everyone else,thanks for your quick replys. I currently use NASA Federal Credit Union so I am definitely going to check with them as well as my company's credit union. Thanks again for the help.

QUAKEJAKE

Just refinanced with Metro Credit Union (Ma and NH) residents only I believe @ 1.9% .

Svre46

Just over 2% with Bank Of America.

383LPE

i say just pay cash for everything

yellowzron

LOL, unless I am getting a happy meal and super sizing it, its gotta be financed. 50-90 k is not what a lot of us have laying around in the closet.

american thunda

Property1

I went with PenFed at 1.49%. Pretty hard to beat that. Dealership was pretty pissed that I didn't even want to talk to their finance officer.

Mark923

Might as well...the bank only pays .00000002 if you save it there, LOL

Random84

and at that you're losing 1.9% or so a year to inflation because savings rates are low. It's completely absurd to have a wad of cash in the bank that you can't spend - can't buy a depreciating asset with it if you can finance for less than inflation; can't pay off the house because THAT's a depreciating asset too, can't buy anything because the economy is going to take another dump and one needs to be liquid... PM's, equities and other investments are all crazy distorted; so I figure - what the hell? "Savers" get royally ****ed in the new FedGov economy no matter what - might as well leave it in the bank and **** away 2% a year.

HolyRoller

If you can find a '12 you like, GM is doing 72 months at 0%. Don't know what your total budget is, but our sponsor Hendrick Chevy of Cary has a VY Z07 3LZ marked down from 102k to 87k.

z51vett

Use a credit union they have the best rates mine is 2.65 for 72 months with 720 or above credit score.Thats Fidelity federal in Sandy springs ga.
z51vett
Doug

ATC399

always one in the this type of thread

mwvettec5

Andydp

This may not apply for everyone but we went with a Home Equity Loan. Banks are very different with the rates but the one we have the current loan with is offering around 1.9%. We can renew at that rate if we "reapply" to increase our credit balance by $ 7,500.

I was looking at a PenFed loan but my wife made an excellent point: since you have to pay interest, why not take out a loan that you can deduct that interest ?

It works out perfectly for us, and we have the flexibility of only having to pay interest if the budget has a "strain" (like dental work) that month.