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Best Auto Rate for 710 FICO

Established Contributor

Best Auto Rate for 710 FICO

I am currently a member of PSECU who offers a 2.49% for 60 months on new or used, is there a bank or CU

that someone can suggest with a better rate lol, I know how much better can you get, just curious?

Message 1 of 7
6 REPLIES
Senior Contributor

Re: Best Auto Rate for 710 FICO

I'm no expert at this but that seems a pretty good rate.  To get better than that, you're probably going to have to go with dealer financing.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Message 2 of 7
Super Contributor

Re: Best Auto Rate for 710 FICO

 

Seriously, I'm not sure that you will be able to beat that rate ~ you might get a dealer offering .9% or maybe 1.9% but the difference in your monthly payment would be very small.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 7
Established Contributor

Re: Best Auto Rate for 710 FICO

Also, keep in mind, you may sometimes save money by taking the PSECU financing over dealer financing.  Sometimes those promo rates preclude you from taking certain cash back offers, where you can choose cash back or the promo rate.  If that is the case, usually you would take the cash back and get the outside financing.  On a personal note, I may actually choose PSECU in the future just to build a nice strong relationship with them.

Gardening with: PSECU Combo $1k, Chase Freedom $3.5k, Discover It $1.7k, Amex Costco True Earnings $2k, Capital One Platinum $500, Best Buy Store Card $2.7k

Starting Score: FICO: 587 EX, 594 EQ, 632 TU, 2/15/12; USAA FAKO: 525 EX, 541 EQ, 525 TU, 2/15/12
Current Score: FICO: 678 EX, 629 EQ, 658 TU, 3/27/12; USAA FAKO: 721 EX, 721 EQ, 576 TU, 3/9/12
Goal Score: 700 Across the Board and Amex Zync or Costco By The End Of 2012


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Message 4 of 7
Frequent Contributor

Re: Best Auto Rate for 710 FICO


jimbo831 wrote:

Also, keep in mind, you may sometimes save money by taking the PSECU financing over dealer financing.  Sometimes those promo rates preclude you from taking certain cash back offers, where you can choose cash back or the promo rate.  If that is the case, usually you would take the cash back and get the outside financing.  On a personal note, I may actually choose PSECU in the future just to build a nice strong relationship with them.



+1

TU Auto enhanced FICO (9/2012): 744
EX FICO (8/2012): 748
EX FICO (6/2010): 739
Message 5 of 7
Contributor

Re: Best Auto Rate for 710 FICO

I think the only better option I know of is Pentagon Federal Credit Union. The have 1.99% for new and used up to 48 months and also have 1.49% new and used if you purhcase through their auto buying program (penfed.zag.com)

 

I have two refinanced car loans through them now at 1.99% and my scores were about 705 based on mortgage pull in December. Not sure what the auto enhanced scores are.




Starting Score: 594 (Dec 10, 2010)
Score: 758 (March, 2013
Goal Score: 730 on all (by end of 2012)

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Message 6 of 7
Established Contributor

Re: Best Auto Rate for 710 FICO


MrCredit wrote:

I am currently a member of PSECU who offers a 2.49% for 60 months on new or used, is there a bank or CU

that someone can suggest with a better rate lol, I know how much better can you get, just curious?


Something I just thought of, PSECU actually will give 1.49% for 36 month or less loans.

Gardening with: PSECU Combo $1k, Chase Freedom $3.5k, Discover It $1.7k, Amex Costco True Earnings $2k, Capital One Platinum $500, Best Buy Store Card $2.7k

Starting Score: FICO: 587 EX, 594 EQ, 632 TU, 2/15/12; USAA FAKO: 525 EX, 541 EQ, 525 TU, 2/15/12
Current Score: FICO: 678 EX, 629 EQ, 658 TU, 3/27/12; USAA FAKO: 721 EX, 721 EQ, 576 TU, 3/9/12
Goal Score: 700 Across the Board and Amex Zync or Costco By The End Of 2012


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Message 7 of 7