New Car Loans -- What Are Good Rates

[Anonymous]

we are shopping for a new car and thinking about how much financing will be.

it looks like we should be able to find 5% easily, any chance of a 2-3% at a credit union or something?

https://www.nerdwallet.com/best/loans/auto-loans/auto-loans-for-good-fair-and-bad-credit

what are people getting now on loans? fed is lowering rates they just announced, how soon will we see these auto loan rates drop?

[Anonymous]

If you plan on paying it off early, do the math on bad rates paired with rebates. We're at 7%, but with $1500 cash back for taking the rate.

[Anonymous]

Anonymous wrote:If you plan on paying it off early, do the math on bad rates paired with rebates. We're at 7%, but with $1500 cash back for taking the rate.

We are looking at in demands cars I think -- no rebates seem available.

[Anonymous]

you are lucky if you can find 5%. Even with a 800 credit score they are between 6-7%

[Anonymous]

Anonymous wrote:you are lucky if you can find 5%. Even with a 800 credit score they are between 6-7%

PenFed has a 4.7. I see some cars listing 2.99 so OP should be able to get 4 with some footwork

[Anonymous]

Fed lower rates in Sep, so by Oct you should see regular rates at 5%. This is going to be a 50 basic point cut, you can be sure.

[Anonymous]

Anonymous wrote:

Fed lower rates in Sep, so by Oct you should see regular rates at 5%. This is going to be a 50 basic point cut, you can be sure.

I heard 75 bps cut!

[Anonymous]

I got zero 0% from the dealer in May. I saw they were offering 0% again on other models. Nothing wrong with the car and no, I didn't get ripped off. They were quite pissed when I left. They started out $5k higher.
Maybe I just got lucky with the model, but small Japanese SUV is what I needed.

[Anonymous]

Anonymous wrote:I got zero 0% from the dealer in May. I saw they were offering 0% again on other models. Nothing wrong with the car and no, I didn't get ripped off. They were quite pissed when I left. They started out $5k higher.
Maybe I just got lucky with the model, but small Japanese SUV is what I needed.

So this was a manufactur promotion? Which make?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I got zero 0% from the dealer in May. I saw they were offering 0% again on other models. Nothing wrong with the car and no, I didn't get ripped off. They were quite pissed when I left. They started out $5k higher.
Maybe I just got lucky with the model, but small Japanese SUV is what I needed.

So this was a manufactur promotion? Which make?

Probably Hyundai they have had a huge drop in popularity after the theft problem

https://www.jdpower.com/cars/shopping-guides/best-car-deals-in-august-2024

[Anonymous]

Anonymous wrote:I got zero 0% from the dealer in May. I saw they were offering 0% again on other models. Nothing wrong with the car and no, I didn't get ripped off. They were quite pissed when I left. They started out $5k higher.
Maybe I just got lucky with the model, but small Japanese SUV is what I needed.

This is a manufacturer’s promotion. They’re losing money on the loan to off load excess cars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Fed lower rates in Sep, so by Oct you should see regular rates at 5%. This is going to be a 50 basic point cut, you can be sure.

I heard 75 bps cut!

Neither of these posters have any basis for claiming to know what size rate cut, if any, will occur.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I got zero 0% from the dealer in May. I saw they were offering 0% again on other models. Nothing wrong with the car and no, I didn't get ripped off. They were quite pissed when I left. They started out $5k higher.
Maybe I just got lucky with the model, but small Japanese SUV is what I needed.

This is a manufacturer’s promotion. They’re losing money on the loan to off load excess cars.

Can I get one on a RAV Hybrid or CRV Hybrid, I think these are less popular since everyone goes electric?

[Anonymous]

Would it be better to wait for this series of race cuts and buy a car in six months?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I got zero 0% from the dealer in May. I saw they were offering 0% again on other models. Nothing wrong with the car and no, I didn't get ripped off. They were quite pissed when I left. They started out $5k higher.
Maybe I just got lucky with the model, but small Japanese SUV is what I needed.

This is a manufacturer’s promotion. They’re losing money on the loan to off load excess cars.

Can I get one on a RAV Hybrid or CRV Hybrid, I think these are less popular since everyone goes electric?

Don't be lazy. Go to the Honda and Toyota websites. They're promotions, so they advertise these things. However, those are two of the top selling SUVs in the US.