Auto Loan Finance Help!

[dparm]

Originally Posted by Alpha///M

This rate seems low. If you don't mind, what are your terms? I got approved by LightStream at 4.25% for 25k/60 mo. Seems high for me (zero debt ex credit). Might shop around more, but have little time. Thanks.

4.25% for 60 months is high. Try a local credit union and you can probably get under 3% for 60 months. I've used the same local CU for my last two loans and have done as well as 1.49% for 60.

[kyippee]

Nationwide got me 2.24% on a 60-month used. So did Auto Pay. Capital One did 1.9% if I did a huge down payment, about 50% of the car, 3.4% if I did a 15k downpayment. Credit unions like Tech CU gave me 2.x%. BOA did 2.x% as well but limited only to franchise dealerships.

[ErikHalo]

Originally Posted by bgalex

Hey guys, looking at this E90 11' M3 Competition package that is out of state and was wondering where I can apply for a loan with low %.

I have perfect credit, but the banks ive searched ( Chase, BMO, Capital 1, Wells and some others) require an authorized deaership in order to use the loan and cant be out of state.

Even tried my own Credit union Im with right now but they dont do out of state loans...

So Im stuck now, I read PenFed and DCU are good from topics on here but did not see whether or not I can use the lond to purchase the car that is out of state of where I live.

Help would be appreciated as Im trying to join the E90 family as I own an E46 M3 currently.

Thanks in advanced!

It is really hard to find a suitable service!

[Ab28]

Originally Posted by ErikHalo

It is really hard to find a suitable service!

5yr thread bump?

[SilverSlug]

Originally Posted by Ab28

5yr thread bump?

Credit unions are going to have the lowest rate and typically allow the highest debt to income ratios in their underwriting criteria.

[slcook54]

Another +1 for LightStream. Silly easy.

[SilverSlug]

I've never tried Lightstream, but have used Caribou, which was also super easy, and had very low rates.