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03-25-2014, 04:43 PM | #1 |
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Best used car loan rate?
Seeing used car loans around 2% I plan to finance part of my purchase. Where are the best loan rates?
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Current: 11 E90 M3 ZCP / R8 Performance
Past Performance Cars: 01 M3, 05 M3, 06 M5, 08 M6, 08 M3, 11 M3, 13 M3, 15 M3, 911 C4S, 911 GTS, 17 M2,R8 V8, R8 RWS |
03-25-2014, 04:45 PM | #2 | |
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Quote:
https://www.penfed.org/used-auto-loan/ |
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03-25-2014, 04:55 PM | #4 |
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Do you need to be a member?
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Current: 11 E90 M3 ZCP / R8 Performance
Past Performance Cars: 01 M3, 05 M3, 06 M5, 08 M6, 08 M3, 11 M3, 13 M3, 15 M3, 911 C4S, 911 GTS, 17 M2,R8 V8, R8 RWS |
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03-25-2014, 05:10 PM | #6 |
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Joining now. Thanks for the tip!
1.49% for 36 months. $25k = $500 interest 1.99% for 48 months. $25k = $1000 interest 2.49% for 60 months. $25k = $1600 interest I guess I'm going with the 3 year option. Saves a ton of interest. Although I do have a question - if I do 60 months, but pay the same payment as the 36 month loan, then do I pay the same amount of interest? Or is all the interest front loaded, and I would end up paying more?
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Current: 11 E90 M3 ZCP / R8 Performance
Past Performance Cars: 01 M3, 05 M3, 06 M5, 08 M6, 08 M3, 11 M3, 13 M3, 15 M3, 911 C4S, 911 GTS, 17 M2,R8 V8, R8 RWS |
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03-25-2014, 07:04 PM | #8 | |
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My current loan is 1.49% for 60 months and with it that low I really haven't taken the time to look further into it. If you call and ask please let us know though |
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03-25-2014, 07:24 PM | #9 |
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1.24% for 65 months is the cheapest I've seen: https://www.dcu.org/loans/auto-choices.html
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03-25-2014, 09:41 PM | #10 | |
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Drives: 2009 E90 M3
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Just did this last week. Super easy and quick! Plus they will finance for up to 120% of the car value. George
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2009 E90 M3 in Space Gray with Fox Red Extended Leather and Carbon Leather Trim
DCT/Evolve Tune (DCT, Servo, Engine) Cold Weather/ Premium/Technology Packages 18" Apex ARC-8 wheels + Michelin Pilot Super Sports 18" Apex ARC-7 wheels + Michelin Alpin PA4 |
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03-25-2014, 11:16 PM | #11 | |
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2011.75 E90 AW | DCT | ZCP | ZCV | ZCW | ZP2 | Prem Sound | Moonroof | BMW Apps |
Mods List: Evolve Exhaust | M Perf Steering Wheel | Tint | Lux | Hardwired V1 | KW V3 | Volshlag CP | Brembo BBK | BBS FI | Yokohama AD08 R| Schroth 4 Point Harness | Challenge GT Diffuser | OEM GTS Wing| GTS Lip| I lied earlier, I wasn't done with mod, but I swear, I'm done now, no more mods... |
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03-25-2014, 11:19 PM | #12 | ||
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03-25-2014, 11:35 PM | #13 |
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Current loan is with Penfed - good process, good customer service, but I just joined DCU, which is almost 1 point less for the same term, no fees.
Can't go wrong with either one. |
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03-26-2014, 09:26 AM | #14 |
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IS there any loan that I can apply for that is NON federal one? I am not member to any federal and I don't have any relative that is so as well. Bank rates sucks and I am very tempted to get these rates.
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03-26-2014, 10:42 AM | #15 |
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You can easily join most of them like PenFed with a small donation. I believe it is $10 or $20.
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03-26-2014, 03:57 PM | #16 |
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Yes most credit unions can be joined with a small donation to a charity or community organization. I believe for Penfed, you can go through the application process for joining and they even have a link to the organization they recommend.
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03-26-2014, 10:47 PM | #17 | |
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03-27-2014, 10:07 AM | #18 |
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You guys are doing the CU route even from out of state? DCU seems to be the lowest but it's in MA and I'm located in WI.
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03-27-2014, 10:45 AM | #19 | |
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Past: 1999 M3 2003 M5 2006 330i 2007 335i 2009 M3 2013 M3 2018 M3
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03-27-2014, 12:43 PM | #20 |
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