pitt911

Dealers are under no obligation to use PFS , and get a kick back from any bank/PFS , so as long you finance with them, they are happy.

Frenzyy

konaforever

DCU has low rates, but they only offer loans up to 100k. I usually use Alliant Credit Union as they have higher limits.

tiptronicken

Thanks for the quick reply.

Vadaredevil

tonymission

I got 4.79% today without haggling or negotiating (meaning I had no idea what it was until I sat down to sign), but they're the third party running a private sale (over sticker)/trade in for me and they really don't have to be too excited to do this. So I don't give them a hard time, they don't give me a hard time. 4-5 months down the road I will re-finance it with my bank. I'm still relatively new in my relationship with them (done 4-5 deals with them) so I don't want to ruffle any feathers. They've treated me fairly enough and gave me an MSRP allocation last year.

Pruettfan

I am with you guys on getting a pre-approval and then letting the dealer match it, it does work in many cases but I no longer do that because I hate the dealership finance office tactics of making the customer negotiate a rate that they can get online in 5 mins from their credit union. The less back and forth I can do with these guys the better. Penfed has earned my business and loyalty by consistently offering great rates and customer service. I have yet to find a dealer that does that consistently so why reward bad behavior?

Pruettfan

You don't need to even wait those 4-5 months. You can refinance today at a much better rate. BTW if you refinance within a year the dealers finance office will know because they will lose their kickback they got for jacking up your interest rate.

Bloose993TT

PenFed usually has some of the best rates unless the manufacture has a special.

https://www.penfed.org/auto/new-auto-loans

joejenie

Actually, the dealer only loses their kickback if it is paid off in the first 90-120 days. So pay 4 payments and then pay it off or move it if the deal sucks.

Pruettfan

I think that depends on the lender and terms of the deal between the lender and dealer. I subscribe to an industry journal and there was an article about how to retain finance deals and keep customers from refinancing and the guy mentioned 1 year as the goal for his dealership. I am sure the bigger the kickback the longer they hold the dealer to the fire. Basically the article was about this exact topic of customers getting irritated with the crappy rate the dealer gave them so they refinance through a credit union. The theme of the article was telling finance guys to not get so greedy that the customer decides the rate sucks enough to shop post transaction for new financing.

PorscheStrong

Like you, I finance and pay off after the incentive period to dealer ends (typically because loan was warehoused and sold to ABS market, resulting in gain on sale that PFS will pay dealer for). I got 3.29% for $80K towards my GT3 (had trade-in credit) from BofA. Rate was better than BofA had quoted me outside of the dealership; even still, I did not and would not negotiate because I'm simply going to pay it off, and I had only used it as a "gift" to the dealer for selling me the car at MSRP.

Note that rates have moved significantly in the last 6-12 months, so old data points are definitely stale.

konaforever

They used to, but DCU has the better rates on new and used cars lately.

https://www.dcu.org/borrow/vehicle-l...uto-loans.html

Loess

You totally should. And if you have any spare cash buy some tsla.

speed2020

Seems like everyone wants to buy a Porsche. I'm also looking for the best interest rates. I already chose the Porsche, now I need to take a loan to pay for it. Actually, I already applied for a loan. A friend of mine recommended the Komplett Bank laina, he took a loan from there before and was satisfied with services provided, contract terms and so on. I'm not looking for the best interest rate, I just trust the bank recommended by my friends. So, I filled in the form on their website and now I'm waiting for the answer. I hope the answer will be positive. I'm looking forward to buying a new car, especially a Porshe.