Auto Loan Interest Rates

ndbwhunter

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What's everyone seeing for rates in the Bismarck/Mandan area? Looking to purchase a new vehicle over 60 to 72 months. Anyone ever use the online banks that offer great rates? If so, which ones?
 
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ndbwhunter

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Which bank if you don't mind sharing? There are some lenders that seem to offer better rates than others.
 

BrokenBackJack

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Don't forget your credit rating plays a major part in the interest rate that the lending institutions charge.
 


jdinny

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eveyrthing is negotiable. we were at our bank since our college years so 15+ years now I very nicely and gently bitched my way to a 1.89% a couple years ago but who knows they prolly tripled my loan origination fees and got It back anyway idk. some math major should do the numbers but if your splitting hairs over .25% over a life loan of 72 months I would think you would make that up by cutting out one or two lattes a month

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which brings up does whatever the numbers work out to be worth alienating yourself to a bank, lender? in our case no I like my bank like our lender so not worth me calling haggling with every bank for a 1/4% reduction. in some peoples cases im an idiot and it very much is but many bansk to get the best rate make you have an account there and do an EFT from that account. just some things to keep in mind
 

zoops

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Bought a new vehicle 2 years ago; dealer was quoting me around 3.5% to use them so I called Gate City and they would go 2.8%, called back the dealer and he said wow I don't think we'll be able to beat that but let me check. He called back about 15 minutes later with 1.9% from Capital One. Was my first experience with that but I guess it pays to check around.
 

3Roosters

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Might make sense to hang tough for a bit. When the 2020's start coming out full force, Dealer incentives to move the remaining 2019's may offer 0% financing on some models.
 

Glass

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Bought a new vehicle 2 years ago; dealer was quoting me around 3.5% to use them so I called Gate City and they would go 2.8%, called back the dealer and he said wow I don't think we'll be able to beat that but let me check. He called back about 15 minutes later with 1.9% from Capital One. Was my first experience with that but I guess it pays to check around.

I have done this a few times. Same experience you had.
 

sweeney

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Might make sense to hang tough for a bit. When the 2020's start coming out full force, Dealer incentives to move the remaining 2019's may offer 0% financing on some models.
Bad part is they usually pull your rebates if you use the 0% I have been way more money ahead on new vehicles going with the 1.9-2.5% my local banks have offered on new vehicles and taking the rebates.
 


ndbwhunter

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Bad part is they usually pull your rebates if you use the 0% I have been way more money ahead on new vehicles going with the 1.9-2.5% my local banks have offered on new vehicles and taking the rebates.

Toyota is currently offering a $3,500 rebate in the Denver region, or 0% for 60 months. In the long run, I'll be better off taking the rebate to get my payments down and just make extra payments as I can. Unfortunately, they won't let me take both. I called around to a few banks today, and the lowest rate I found so far is 3.1% for 60 or 3.6% at 72 with a 0.5% decrease if you do automatic withdrawals to make the payments.
 

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