Does anyone know where is the best place for getting an auto loan (on a used vehicle)? I don't feel like putting down close to 30K all at once -- I feel I can earn better returns than the interest I'm paying out. I'm looking to finance the car for 36 months with a loan amount of $15,000.

I checked out a few banks' websites, and their rates are extremely high. Most places run for around 8 to 9%, and some for even more. HSBC had the lowest of all, which is still an absurd 7%.

I did a search in other forums, and some posts suggested credit unions. Do you have any particular one (credit union or bank) that you recommend? My credit score should be on the very good/excellent range, and currently do not have a mortgage (so can't take out a home equity loan).

Thanks!

 

How did you / how much did a Platinum Membership cost?

Capitol One?

 

For used vehicle, that sounds about right.

 

I was always happy in the past with Valley national bank. but their rates are over 7%.

The reality is that 7% was once the norm ... there was a time when one could get a 5 year 14% CD ... an 8% mortgage rate was LOW .

We are heading back that way once again .

Eliot

 

Platinum was ~160 (I paid an extra 127.xx to upgrade from regular membership). Only difference between Platinum and Gold is that Platinum is supposedly a lifetime membership. It was actually a mistake that I was able to sign up for it though. I believe the site owners are still working out some details. Nevertheless, they let me keep the Platinum status

CapitalOne is around 8%-ish for a used car. I guess I really should have taken the loan out a year ago when rates were around 2% lower ... dang.

Anyways, thanks for the info.

 

I pay 6.75 on a 4 year loan

.25 off becuase they do direct withdrawl

eloan y0

 

If you can fianance through out of state I can get you 5.95% in TN.

 

With a Honda (or Acura) CPO (certified pre-owned) you can usually get 4.9%.