New Guy has 1 more ? Financing APR?
#1
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Hi everyone. I want to thank all of you who replied to my last post (New Guy Needs Some Advice). Your advice is much appreicated.
I have one more question and it may be a little personal. I was wondering what kind of APR you are getting if you are financing the car through American Honda. The dealer wont let me know what the APR will be until my car arrives and the paper work is on the table. Isnt this a little unfair on their part (they could at least give me a ballpark number)? My credit is at the highest rating, and my income is solid. I am not trading in my current car, but I am putting $10K as a down payment (buying the car at $33K). I am financing my current Honda through American Honda Finance. If AHF doesnt give a good APR, can anyone recommend a good bank to go through? Thanks again for your time!
I have one more question and it may be a little personal. I was wondering what kind of APR you are getting if you are financing the car through American Honda. The dealer wont let me know what the APR will be until my car arrives and the paper work is on the table. Isnt this a little unfair on their part (they could at least give me a ballpark number)? My credit is at the highest rating, and my income is solid. I am not trading in my current car, but I am putting $10K as a down payment (buying the car at $33K). I am financing my current Honda through American Honda Finance. If AHF doesnt give a good APR, can anyone recommend a good bank to go through? Thanks again for your time!
#2
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look for rates on the web and call your bank or credit union... we could not get decent rates from AHM, while financing our 2 hondas(bought a month apart)so we went with my wifes credit union.
#3
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I've got 8.5% APR for 6 years through Crestar (now SunTrust). My dealer found it the day I took delivery, which was in February 2000. I'm sure the rates are lower now
#4
I'm awaiting the arrival of a silver/black S2K. I am a memeber of a credit union that usually has really good rates - right now they have 7.75% for 60 months. I told the dealership that I would finance there if they could find me a rate equal to or better than that - which they did.
#5
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I just purchases my s2k last week and got a rate of 6.76% for 60 months from the web, PeopleFirst.com. They were great. Applied for the loan via the Web, approved within 24 hours, FedEx'ed me a check the next day. I shopped all around, Honda dealer couldn't beat this rate with all of the banks they were hooked up with. Good luck.
#6
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Right now Honda is in the high 7's. Chase (if available in your area) is in the low to mid 7's.
I have had a lot of cliens go through peoplesfirst.com. They seem to like it and so do I.
The best advice I can give to you as a dealer is do some looking on your own and right before the car gets there tell them that you ahave a rate of ?? and if they can match or beat it you'll do the financing with them. This ensures the best deal for you.
Good Luck!
I have had a lot of cliens go through peoplesfirst.com. They seem to like it and so do I.
The best advice I can give to you as a dealer is do some looking on your own and right before the car gets there tell them that you ahave a rate of ?? and if they can match or beat it you'll do the financing with them. This ensures the best deal for you.
Good Luck!
#7
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I bought my car in November of 2000 and at that time, the best rate I was offered through Honda was about 8%. I went through my bank (USAA) and was offered a rate of 6.9% APR for a term of 60 or 72 months. This APR was reduced slightly with the automatic monthly transfer of funds.
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#8
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Make sure to look into any penalties/options like early payoffs. I went through my credit union, financed for 5 yrs but making the equivalent of 4 year payments. No penalty for early payoff, but I have the flexibility of sending in less money if the need arises.
#10
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Just got 6.5 at my credit union for my wife's C Class last Saturday, last August I got 7.0 on my Stook. My credit union is going to offer refinance in April at 6.25, no fees. Shop around AHM is not always the best deal, but they generally have been close.
I would not lock anything in until the car is on the lot the rates change to much these days. I realize you are not doing a mortgage, but every little bit saved could mean another big boy toy down the road.
I would not lock anything in until the car is on the lot the rates change to much these days. I realize you are not doing a mortgage, but every little bit saved could mean another big boy toy down the road.