Our credit union has always had the best rates we could find unless there's a special manufacturer rate. US Senate FCU.

4.99% on new car loan through Hyundai Motor Finance. I remember 10 years ago (the last time I bought a car) Toyota was running a 0% financing deal. Times have changed!

Just 4.49% on a new car loan through the dealership. The best rate I could find on used was 6.49%. I have a credit score above 850.

Interest rates are higher right now. Used rates are always more than new.

Mazda offered 0% in May 2024 on certain models. This went on for a very long time. Credit score or 740+.

I just went to BOA where I have enough cash to cover the cost of a car. I asked them for rates and they said 6.25 on a new car and 6.74 on a used car. I decided to pay cash. Their rates are too high.

With a credit score that high I would just pay cash. Clearly you have the money.

PP here. This was before the latest rate cut.

I have excellent credit. Recently got 5.29 just checking a few banks. It was BofA. This eas for new. I think used rate is typically higher.

Just waited until one of the cars I wanted had a very generous manufacturer rate. Recommend doing the same.

I did lots of shopping around. 4.4% was best I got. Highest was close to 10%. Most over 7%. Credit is mid 800s also.

I haven’t bought a car in almost a decade and I’m now looking at new or slightly used Mazda or Subaru crossovers. On various websites, I’ve seen example interest rates around 7%-8%. I have excellent credit (800+), so I’m wondering if this is typical or if there might be better options available.

Years ago, I remember getting rates as low as 1-2%, so I’m trying to set realistic expectations for what I might see now. Is it best to get a loan through my bank or credit union or are they just as bad now?