C8 Financing
Thread Starter
7th Gear
Joined: Sep 2023
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C8 Financing
What loan rates are folks getting from Dealer financing - top tier credit? Trying to see if I should get financing done through a credit union before my car comes in the next few weeks.
Thanks.
Thanks.
Drifting
Joined: May 2010
Posts: 1,839
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A credit union is your best bet. If you apply with them, and get pre-approved, they may shave off .05% from your rate by going directly with them. Mine did. It also shortens your time spent with the dealer. I believe the dealership may get some form of a kickback from the lending company they sign you up with.
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From: Pittsburgh
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A credit union would be a good place to start
Le Mans Master
Joined: Jul 1999
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From: jackson nj
Just before I went to the dealer for my car (a little over a week ago), I searched a few places and just let the dealer know during the "talk" of the length and payment amount what the "others" were offering. Low and behold the dealer was an "authorized" member of one location...but they never checked that particular lending institution (guess they got lazy after approval from other sources) and because of that they redid my application with the mentioned source and after that, my payment went down by about $20 and for a shorter period as well. Sometimes the dealer will only search a few places and choose the one with the least trouble for them and not the customer just to close a deal and to move onto another person, and your so anxious to get your new Corvette you just agree and sign....go ahead and tell me that is not true..
Last edited by Redvette_22; Oct 23, 2023 at 07:21 AM. Reason: forgot info
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FWIW, I have always found my local CU to have the best rates, unless the manufacturer has some kind of special financing going on.
Melting Slicks
Joined: Jun 2004
Posts: 2,090
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From: Macon GA
…my credit score is in the 830’s, low income to debt ratio, and the best rate I found was at Navy Federal Credit Union. All you need to join is a relative that was in the military at some point. My grandfather, who passed in the 70’s, was Army and they let me join. They advertised 4.74% for 60 months, but gave me 5.04% for 60 months and couldn’t tell me why I didn’t qualify for the 4.74% with my Tier 1 credit. Anyway, dealer said they couldn’t touch that rate, and they didn’t even try, so Navy Federal got my business. I even went to my 2 local credit unions that I’ve been with for 20+ years and told them if they’ll match that rate, I’d go with them. They wouldn’t budge off their 5.25% rate…
…my ‘24 1LT stickered for $67,895, I only financed $26,500, so very low risk with the LTV of the car and my credit history…
…my ‘24 1LT stickered for $67,895, I only financed $26,500, so very low risk with the LTV of the car and my credit history…
Last edited by BandDirector; Oct 23, 2023 at 10:10 AM.
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Le Mans Master
Joined: Nov 2002
Posts: 5,832
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From: Rochester New York
…my credit score is in the 830’s, low income to debt ratio, and the best rate I found was at Navy Federal Credit Union. All you need to join is a relative that was in the military at some point. My grandfather, who passed in the 70’s, was Army and they let me join. They advertised 4.74% for 60 months, but gave me 5.04% for 60 months and couldn’t tell me why I didn’t qualify for the 4.74% with my Tier 1 credit. Anyway, dealer said they couldn’t touch that rate, and they didn’t even try, so Navy Federal got my business. I even went to my 2 local credit unions that I’ve been with for 20+ years and told them if they’ll match that rate, I’d go with them. They wouldn’t budge off their 5.25% rate…
…my ‘24 1LT stickered for $67,895, I only financed $26,500, so very low risk with the LTV of the car and my credit history…
…my ‘24 1LT stickered for $67,895, I only financed $26,500, so very low risk with the LTV of the car and my credit history…
Last edited by Supersonic 427; Oct 23, 2023 at 11:59 PM.
Melting Slicks
Joined: Sep 2004
Posts: 3,477
Likes: 2,249
From: Southern NJ
That .3% difference could be if you sign up for direct payment out of a Navy Fed checking account. I haven't checked Navy Fed but usually there's an (*) next to the lowest rate and if you follow the *there is usually an auto pay requirement.
Melting Slicks
Joined: Jun 2004
Posts: 2,090
Likes: 1,361
From: Macon GA
Intermediate
Joined: Feb 2021
Posts: 43
Likes: 24
From: Southern California
When I request lenders for rates, they always ask me to provide the VIN#. But the car is still in production, so I don't have the VIN#.
At what stage in the build can we request for the VIN#?
At what stage in the build can we request for the VIN#?
Melting Slicks
Joined: Jun 2004
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From: Macon GA
Drifting
Joined: Jun 2014
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Melting Slicks
Joined: Jun 2004
Posts: 2,090
Likes: 1,361
From: Macon GA
They've actually got a wide path to membership. You can check it out on their website. My grandfather, who was Army and passed away in the 70's, met their requirements and they let me join. They just took my word for it too. I would've had to go digging for proof, but I had if I needed to...somewhere...
Drifting
Joined: Apr 2013
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From: Big Sky Country, Montana
