as far as the 10% down i don't think its that much to put down on a new car. jmo
Financing Question
Le Mans Master
Joined: Feb 2011
Posts: 5,783
Likes: 400
From: Paoli, IN
St. Jude Donor '17, '19
What credit union did you use? I tried looking up the list that GM allows, but I had to create an account to view the list and I didn't want to do that.
Race Director
Joined: Feb 2013
Posts: 12,687
Likes: 224
From: Nazareth, PA.
St. Jude Donor '17
Drifting
Joined: Apr 2011
Posts: 1,296
Likes: 14
From: Richmond TX
I don't think 10% down is too low. I was thinking 20% or more is quite normal. If you don't put down a certain percentage, they will try to hit you up with "gap insurance" which insures them, not you (but you would get to pay for it).
Melting Slicks
Joined: Jul 2004
Posts: 2,216
Likes: 284
From: Ten Mile TN
I got 1.49 financing from Navy Federal Credit Union. Not sure if they required a down or not, as I had all along planed on putting 30K down. I as aiming for a payment number to keep it under. Plus wanted no gap or such.
Drifting
Joined: Sep 2012
Posts: 1,731
Likes: 75
From: Santee South Carolina
Have your dealer check with several lending institutions in addition to the ones you are looking at. I got 1.65% back in April from Wells Fargo. BB&T had the same rate. Ally (formerly GMAC) and my bank First Citizens were higher. Shop around!!!
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Le Mans Master
Joined: Oct 2004
Posts: 8,615
Likes: 60
From: Haymarket Virginia
I can't afford to pay cash for everything so I finance everything, I'm the 99%.... Had to sell my soul for my C7!