car loan question

[scottsins]

I MAY have a car coming in on August 4th. What i am REALLY wondering is this:

They told me that i need to contract the financing before the end of the month to get that rate. I know from other lenders that the new month brings new loan terms.

HOWEVER, would it not be more likely that the rate will DROP after the end of the month? I would think so, with the way the market is. Surely it wouldn't go UP enough to make me rush to contract the financing during july, correct?

 

[scottsins]

additionally, where are the lowest online auto financing sites?

k thx bai.

 

[HatDaddy]

do you belong to a credit union?

 

[scottsins]

unfortunately, no.

 

[DallasTexasEx]

You could join University Federal Credit union in Austin. They have excellent rates on auto loans.

 

[gardere_owns_OU]

get with a CU then. you don't even have to do your banking with them really. just get with the membership. toss $25 into an account and you're done.

i'm at united heritage. either them or university federal.

in less than a year i asked them to remodify my financing and dropped it over 2% without changing my term. saved an additional $30/mo and i'm at 5.75% now.

i'd imagine your credit is better than mine too, so that'll only help.

i love you.

 

[Smurfette]

UFCU gave us a really low car loan %. We don't have very good credit. BUT, we have had several loans w/ them that were always paid and always paid on time, so they might have taken that into consideration.

 

[Hornin Hong Kong]

Rate raise could happen. I looked up the 4Q survey on BBG and the average is 2.08 vs current 2.00.

 

[scottsins]

I have been offered, as an example, a rate of 6.19% on a 6 yr. note. now, i likely won't be doing a 6 year note for a host of reasons, BUT when I compare that rate to a bunch of online lenders, even some CU's, it doesn't get much better.

 

[Little Earl]

Two weeks ago I refinanced an auto-loan at United Heritage for 60 months at 4.49%. Vehicle is less than a year old. They offered up to 63 months at that rate. I would think they could at least match that on a new loan.

Definitely check out UHCU. I've gotten a lot of good rates from them over that past 5 years. If you live or work in Travis, Williamson, Bastrop, Caldwell, Hays, Smith, or Wood you are eligible to join. Although I'm not sure I've ever heard of them turning anyone down. You are also eligible if you have a relative that is a member. If you don't, just find some old college buddy that still lives in Austin and claim him as a cousin or something.

 

[jimmyjazz]

I've purchased 2 new vehicles in the last 2 months. (Don't ask.) In both cases, I arranged financing through University Federal Credit Union for 60 - 66 months at 4.5%. In both cases, the dealership was able to offer 2.9% for the same loan period. Check with the dealer.