JonGTR

I'm looking to buy a new.... Anyways, just wondering what you're paying in interest and what bank gave it to you?



Right now, RBFCU has the best rates in my area at 1.95%.

https://www.rbfcu.org/loans/auto-loans

i8acobra

Depending on what you're getting, always check the manufacturer's rate. I almost always get at least a point lower than my lowest bank rate, especially if I'm pre-approved through a bank. Ford initially offered me 3.9%, then dropped it to 1.9% when I told them my bank approved me at 2.49%. Friend of mine is the finance manager at Gaudin Ford here in Vegas. He told me most people don't realize that he can call Ford Credit and ask them for a lower rate to "move the metal".



So, I'm at 1.9% for 60 mo. with Ford. Got that in May of '15.

JonGTR

But, how much did you haggle off the selling price? Ford offers 0% financing on many of their vehicles, but I've been told by several people that when using that offer, they take away any incentives and won't bargain the price. They make up for the 0% by screwing you on sticker price.

tibbytib

^^That's what I've heard as well. You're better off taking all the cash incentives, then finding your own financing. That's what I did when I financed the Veloster. Got the dealer down to 19k for my new Rspec, they screwed me with a 7.99% loan. A week later I refinanced with my local credit union @ 1.9%. My life would have been easier if I got pre-approved before heading to the dealer. But it worked out. I knew I'd get approved so I took every cash incentive I could and financed with my own bank.

i8acobra

You need to negotiate the price, then the financing. Don't let the sales guy talk to you about payments. "If we can do $XXX per month, do we have a deal". Sticker on my '14 F150 was over $38K. Got it for $26K, in part because the redesigned '15's were on the lot. After I had the price locked in, then we talked about rates. I would have got the 0% if I gave up a $6K rebate, but taking the rebate and 1.9% was the better deal.