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Financing new car (not from the dealer)
by mjadhav
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Aug 06, 2009 (7:48 am)
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I am thinking of using a manufacturer incentive to buy a new car. That will knock off a few grand from the price of the vehicle, but I can't take advantage of the manufacturer's low rate financing if I take that option.
What's the best place to get auto financing from? I have heard about PenFed - anybody used them? What was the experience?
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- #2223 of 2253
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Re: Financing new car (not from the dealer) [mjadhav]
by lrguy44
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Aug 06, 2009 (8:28 am)
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Replying to: mjadhav (Aug 06, 2009 7:48 am)
Check rates at your local banks and credit unions. The dealer still may be able to furnish a lower rate because he works with banks that may give him a lower rate than you can get However, find out your credit score and do not let anyone pull your credit until you have researched all rates. .
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- #2224 of 2253
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Re: dealership contract and new auto loan [volvomax]
by tornadog
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Aug 06, 2009 (8:38 am)
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Replying to: volvomax (Aug 05, 2009 2:57 pm)
You are right. They had already sent it to CapOne and so now I will have to wait to get my account information. I will have to deal directly with them now, I guess. I just hope to have everything done and sent within the 30 day window they have given me.
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- #2225 of 2253
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Re: dealership contract and new auto loan [tornadog]
by corvette
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Aug 10, 2009 (5:26 am)
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Replying to: tornadog (Aug 06, 2009 8:38 am)
Call PenFed and talk to them. They will probably reissue the check to CapOne.
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- #2226 of 2253
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Re: Financing new car (not from the dealer) [mjadhav]
by yuppers213
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Aug 17, 2009 (7:14 pm)
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Replying to: mjadhav (Aug 06, 2009 7:48 am)
I applied online for a car loan through Associated Credit Union of Georgia. Someone contact me the next day and approved me for $20,000 (what I had asked for) at 3.9% for 48 months. I needed proof right away so they faxed me an approval letter that day. Completely painless and a fantastic rate. I would definitely recommend them.
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- #2227 of 2253
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Re: Financing new car (not from the dealer) [yuppers213]
by bhi
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Sep 01, 2009 (7:15 pm)
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Replying to: yuppers213 (Aug 17, 2009 7:14 pm)
my wife and I recently purchased a car, I didn't stress too much over the interest rate tho, for a 20k 48 month loan the difference between 3.99% and 5% is around 9$ a month. Use one of the online payment calculators before you head to the dealer and see if the different interest rates make that big of a difference in monthly payment. I used the one at agcalc.com it lets you try a bunch of different rates, terms, etc. real easy to use.
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- #2228 of 2253
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Re: Financing new car (not from the dealer) [bhi]
by joel0622
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Sep 03, 2009 (10:10 am)
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Replying to: bhi (Sep 01, 2009 7:15 pm)
Hey, nice spam
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- #2229 of 2253
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Re: Financing new car (not from the dealer) [joel0622]
by qbrozen
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Sep 03, 2009 (10:57 am)
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Replying to: joel0622 (Sep 03, 2009 10:10 am)
I actually think that's a cool looking tool.
However, it doesn't reflect what the poster stated. The difference of 1% interest on a $20k/48-mo note shows up as $18/mo on that tool.
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- #2230 of 2253
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Re: Financing new car (not from the dealer) [joel0622]
by tidester HOST
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Sep 03, 2009 (12:53 pm)
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Replying to: joel0622 (Sep 03, 2009 10:10 am)
Of course, our members already know about and use the Auto loan calculator at Edmunds. 
tidester, host
SUVs and Smart Shopper
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- #2231 of 2253
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Re: Financing new car (not from the dealer) [qbrozen]
by joel0622
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Sep 03, 2009 (2:04 pm)
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Replying to: qbrozen (Sep 03, 2009 10:57 am)
It is a cool little tool but my point being is that if I say. "I sell Ford Service Contracts, contact me through my email in my profile" My post will be deleted and I will get a email from one of our gracious host pointing out the error in my ways.
The fly by night one post wonder guys do a drive buy and there spam does not get deleted.
Thats it, I have learned one thing from my Edmunds friends. I am going to get a lawyer and sue, sue,sue. 
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