Best Interest Rate
 

First let’s take care of some unwanted comments before they inevitably happen: We don’t care that your paying cash! We don’t care that you think we should pay cash either. This thread is not for you.

What are the best interest rates you guys are seeing for new car purchases? Last week American 1 credit union was at 3.5% but looks like they just raised it to 4.99%.

My local CU is at 3.99% right now.

Mine WAS too, but apparently just bumped up to almost a full percentage higher…😡
https://cimg0.ibsrv.net/gimg/www.cor...d56dbf1278.png

My credit union new rates for January:
60 Months 4.84%
72 Months 4.91%

https://www.parsonsfcu.org/loan-rates

…I believe parsons has a way for anyone to join…


https://cimg6.ibsrv.net/gimg/www.cor...cd01f22a42.png

Partners FCU rates are below. I’ve financed 3 previous cars with them, usually have the best rate but doesn’t seem so anymore.

https://cimg3.ibsrv.net/gimg/www.cor...eaafbd0dce.png

Does GM offer any decent financing? Just thinking aloud….

2 weeks ago when I purchased my used 2021 C8 GMAC gave me a rate of 7.89% for 60 months, I had $34k down and a credit score of >800. Not a good deal. I don't see any new GM deals listed today.

Good info, both Parsons and Partners both have good looking numbers for rates these days.

Without getting into politics, the interest rate will continue to climb as the Fed says they plan to increase it in 2023. Hopefully, the MSRP wall will begin to crack with high interest rates reducing sales?

2019 Mustang GT Premium 6MT Daily Driver
2017 Porsche 718 Cayman
2009 Jeep Wrangler Rubicon
Moab, Utah 4-Wheeling Trips x10 - TJ: 4/06, 5/08, JK: 4/09, 5/11, 4/13, 5/16, 4/17, 5/18, 9/21, 6/22
Rubicon - 2008
Pics https://www.pbase.com/thunderstrike

UFCU.org

3.99/48
4.49/66

GM also didn't offer me good rates with a 760 credit score and 55k down. It was 8% (from GM) compared to the 4% my local credit union did. Was alittle disappointing cause I figured I would get better rates like the 2% I traditionally got offered but I guess those days are gone.

My allocation isn’t coming up until late this year. I’m hoping that if rates are still high, recession is in full swing, that maybe GM will have to offer special financing rates to move vehicles…even in 2020, GM offered 0% for 72 months. I know that was a different economy, but I’m hoping for at least 1.99% or something along those lines if car sales have slowed greatly by that time. In the meantime, I’m saving like a madman to put as much cash down as I can…hopefully I can put half down on my ‘24 1LT when it arrives…

Do you mind sharing the CU name?

I was hoping GM would offer better rates as well, I’m thinking anything sub 4% is good right now.

I would do a search. The best rates could depend on the applicant. Good luck, those rates are hard to take after all these years of boost.

That's an amazing rate. The best rate I got is penfed 5.54%. I am thinking of paying my Z06 all in cash as a result.

Regular savings accounts are earning 4% right now and will increase if the fed keeps increasing rates. I would rather finance at 4-5% and keep my cash vs paying cash. I'm hoping rates don't keep going up before my Z06 gets here hopefully by mid February.

0.0....cash! LOL

fairwinds credit union


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GM May very well offer lower interest rates on cars they’re trying to move. I can guarantee you that the C8 will not be part of that incentive. There is no need. They still have a 1 year backlog of buyers.