Current best finance rates?
08-01-2017, 02:28 PM
#1
Current best finance rates?
Hi all. Should be picking up my 2018 next week. Gonna finance a bit of it. I have a credit union or two that I can get awesome rates from for 72 months but dealer won’t take a bank draft. I’d have to buy car for cash then refinance with title in hand because of that. Rate is 1.79%.
I know buy rates at dealers are usually just under 2% lately and I was promised buy rate. I’m wondering if any of you recently financed some or all of a new Porsche at a Porsche Dealer what kind of rates you got? I’m being told it looks like 2.75%. I think that’s high comparatively speaking to what I can get elswwhere or on recent purchases from other brands and dealers. Thanks in advance.
I know buy rates at dealers are usually just under 2% lately and I was promised buy rate. I’m wondering if any of you recently financed some or all of a new Porsche at a Porsche Dealer what kind of rates you got? I’m being told it looks like 2.75%. I think that’s high comparatively speaking to what I can get elswwhere or on recent purchases from other brands and dealers. Thanks in advance.
08-01-2017, 02:34 PM
#2
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Hi all. Should be picking up my 2018 next week. Gonna finance a bit of it. I have a credit union or two that I can get awesome rates from for 72 months but dealer won’t take a bank draft. I’d have to buy car for cash then refinance with title in hand because of that. Rate is 1.79%.
I know buy rates at dealers are usually just under 2% lately and I was promised buy rate. I’m wondering if any of you recently financed some or all of a new Porsche at a Porsche Dealer what kind of rates you got? I’m being told it looks like 2.75%. I think that’s high comparatively speaking to what I can get elswwhere or on recent purchases from other brands and dealers. Thanks in advance.
I know buy rates at dealers are usually just under 2% lately and I was promised buy rate. I’m wondering if any of you recently financed some or all of a new Porsche at a Porsche Dealer what kind of rates you got? I’m being told it looks like 2.75%. I think that’s high comparatively speaking to what I can get elswwhere or on recent purchases from other brands and dealers. Thanks in advance.
Tell the dealer the rate you can get through the credit union and refuse to buy unless they get it for you. Can't they buy it down for you (out of their end of the deal) should they choose to do so?
Edited to add that 1.79% seems really low. My credit union is currently at 2.79% and they're usually pretty good about being on the low end of the scale.
But you have to buy a Ford.
08-01-2017, 03:37 PM
#4
Never heard of a dealer not taking a bank draft for financing from a 3rd party. I show up with the letter stating the funds are available and then get the dealer to match or beat it.
08-01-2017, 04:53 PM
#6
I agree. Never had an issue before. I’m not sure why this dealer won’t take a draft. Possibly to make it more difficult and force the average Joe into their rates? Or they were burned before. I don’t mind going a tad higher to 1.99% or so direct
From dealer but I’m waiting for a callback after they speak to bank reps.
From dealer but I’m waiting for a callback after they speak to bank reps.
08-01-2017, 05:17 PM
#7
It surprised me once that a dealer was not aware a bank draft is the same as a certified check. Once he realized that, it was smooth sailing. If it's a good deal, tell him to keep the car till the check clears if you have to. Whats a couple of days.
Dealer interest rates sometimes are from banks they have a relationship with. In that relationship, the dealer gets a kickback for high interest rate loans. Because of that, too, the dealer will discount the car if you finance through their bankers. The discount more than compensated for by the amount of the kickback.
Stay alert.
Dealer interest rates sometimes are from banks they have a relationship with. In that relationship, the dealer gets a kickback for high interest rate loans. Because of that, too, the dealer will discount the car if you finance through their bankers. The discount more than compensated for by the amount of the kickback.
Stay alert.
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08-01-2017, 07:15 PM
#9
It surprised me once that a dealer was not aware a bank draft is the same as a certified check. Once he realized that, it was smooth sailing. If it's a good deal, tell him to keep the car till the check clears if you have to. Whats a couple of days.
Dealer interest rates sometimes are from banks they have a relationship with. In that relationship, the dealer gets a kickback for high interest rate loans. Because of that, too, the dealer will discount the car if you finance through their bankers. The discount more than compensated for by the amount of the kickback.
Stay alert.
Dealer interest rates sometimes are from banks they have a relationship with. In that relationship, the dealer gets a kickback for high interest rate loans. Because of that, too, the dealer will discount the car if you finance through their bankers. The discount more than compensated for by the amount of the kickback.
Stay alert.
They don’t accept bank drafts apparently as he said because it can take up to two weeks to clear. Never heard of such a thing. Must have had a bad experience long ago. Lol.
I can can pay cash and then finance the portion I wanted to if all else fails. I was offered Buy Rate. No markup. Part of my agreement, inclusive of discount.
08-02-2017, 09:58 AM
#14
RAtes vs refi rates
I just did a rate of 3.24 for 72 mths on a 2012 with SDFCU. Thier refi rate is much lower and for some reason most of the credit unions have a much lower refi rate. Why would a refi rate be a point lower than a purchase rate ?
08-02-2017, 12:48 PM
#15
Three Wheelin'
It surprised me once that a dealer was not aware a bank draft is the same as a certified check. Once he realized that, it was smooth sailing. If it's a good deal, tell him to keep the car till the check clears if you have to. Whats a couple of days.
Dealer interest rates sometimes are from banks they have a relationship with. In that relationship, the dealer gets a kickback for high interest rate loans. Because of that, too, the dealer will discount the car if you finance through their bankers. The discount more than compensated for by the amount of the kickback.
Stay alert.
Dealer interest rates sometimes are from banks they have a relationship with. In that relationship, the dealer gets a kickback for high interest rate loans. Because of that, too, the dealer will discount the car if you finance through their bankers. The discount more than compensated for by the amount of the kickback.
Stay alert.
I use this Credit Union for my car loans, you can see the rates they publish.
https://www.dupagecu.com/
With the way the market has been, it makes no sense to put any money into these cars.
When I bought my wife's MDX, Acura had special financing rates, but that was bought new.