Let's help each other get the best auto loan finance interest rates

[shimmy825]

60 months, 2.9% with BofA.

Mind if I ask where your credit score fell and if you're a repeat BofA customer? I have a current auto loan through them for 4.03% and am wondering if I come back again if that's got any bearing on it...

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[survivormanca]

Mind if I ask where your credit score fell and if you're a repeat BofA customer? I have a current auto loan through them for 4.03% and am wondering if I come back again if that's got any bearing on it...

700+. Also, I am a gold customer which will give me a .25 discount off.

 

[BroncMO]

University of Michigan Credit Union was just advertising 1.99% for up to 72 months, 2.99% for 84 months.

 

[Lilj4425]

Stupid question. Does applying for a loan now to see if you’re simply approved and at what rate hurt your credit score? Is it considered a hard pull?

 

[Monster1926]

Stupid question. Does applying for a loan now to see if you’re simply approved and at what rate hurt your credit score? Is it considered a hard pull?

Yes. Loan application is a hard inquiry. I wouldn’t fret on inquiry’s to much though. Start shopping the week before your bronco is delivered. At that time a bunch of auto loan inquiries will be put on as one hard inquiry.

 

[Contact]

USAA

For 2020 or Newer Models

As low as:

1.89%APR

• Terms up to 84 monthsSee note1
• No application fees
• No payments up to 60 daysSee note2
• Rate shown includes 0.25% discount for enrolling in automatic paymentsSee note1

 

[GoTigersGoBronco]

Stupid question. Does applying for a loan now to see if you’re simply approved and at what rate hurt your credit score? Is it considered a hard pull?

Several online lenders and credit unions will do a soft pull to give you a rate before they do a formal application for a final determination.

 

[Evolkidbell]

Pentagon Federal Credit Union has 1.39% for 36 months and 2.49% for 72.

IIRC their current 60 mo is at 1.99%

 

[stratego]

University of Michigan Credit Union was just advertising 1.99% for up to 72 months, 2.99% for 84 months.

UMCU is a great credit union, they contacted me out of the blue earlier this year about refinancing my Tesla Model 3 and gave me a 1.90% rate.

I need to ask if they will be upset if I pay it off so soon after taking out the loan and starting a new one lol.

 

[PrepVet]

USAA

For 2020 or Newer Models

As low as:

1.89%APR

• Terms up to 84 monthsSee note1
• No application fees
• No payments up to 60 daysSee note2
• Rate shown includes 0.25% discount for enrolling in automatic paymentsSee note1

Hhhhmmm that’s way better than what I saw on USAA when I was doing my intial window shopping. I was going to either do Navy Federal or my local CU but I guess in a few months when I hopefully get it the rates will be better… doubt it.

 

[Faust]

Stupid question. Does applying for a loan now to see if you’re simply approved and at what rate hurt your credit score? Is it considered a hard pull?

Lil,

Check Capital One / Carvana / Consumer's Credit Union (One based out of Illinois).

Those 3 will do a soft pull and give you an idea of where you stand.

Capital One is great - as they'll tell you how much they'll approve you for and allow you to see your rates based on the length of the loan you choose. Choose a new similar priced Ranger/F150 to your Bronco and play around with the numbers.

 

[NotApplicable]

DCU 65 mos @ 1.49% w/direct deposit, 1.99% without. 1-time $10 donation to join if you aren’t otherwise eligible

 

[5280Bronco]

DCU 65 mos @ 1.49% w/direct deposit, 1.99% without. 1-time $10 donation to join if you aren’t otherwise eligible

Who is dcu?

 

[NotApplicable]

Who is dcu?

Digital Federal Credit Union. I think they mostly serve MA communities, but again anyone can join if you donate $10 to some charity when you sign up.

 

[AZMikeL]

I financed my F-350 thru Alliant CU. They are offering 2.24 on 60 month loans now.

https://www.alliantcreditunion.org/borrow/credit-union-car-loan#rates

I'll probably go with them for the Bronco unless someone else can significantly beat that rate. A 35k loan at 2.49 vs 2.24 is less than $4 a month difference.

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