Given your experience .. what *should* I expect

[Anonymous]

Okay - just want to get a feel for what I *should* expect in the APR arena... If you need more information, let me know!!

I prequaled a little bit back and got the following:  

Capital One - 3.13-9%, up to 40K

Local Credit union - Used:  4.74% (2013-2016 - up to 30K miles), 6.49 - over 30K or older than 2013 / New - 4.24% (under 30K) and 6.49 new over 30K (is that even really feasible??)

My stats:

Income: 110K

Util: 5% (5k usage of 105K credit)

Auto 8: Equifax - 707, TU - 707 and EX - 708

FICO 8:  Equifax - 718, TU - 717 and EX - 722

Do the above prequals seem in line?  Granted, my scores (except TU which went down a few point) jumped 10+ points since my prequal (not sure about auto scores, as I hadn't checked them prior to prequal).   Do you think I could get better with inhouse financing at the dealership (looking at either a Kia or Hyunda or maybe a Mazda).  Or should I stick with what I have?

thanks!!

[jeffm4688]

from my experience kind of high given score and income. any other local CU's that offer better rates? you should easily qualify for penfed's/DCU's best rate. 

[Appleman]

My advice would be to join PenFed and have them qualify you for an Auto loan with the same Equifax HP.

For me they have beat every other bank. You will likely get a better rate if you walk in with your own financing. 

[Anonymous]

DCU or PenFed should be able to do better, imo.

[IowaGuy]

Well Penfed would do better, but F&I at the dealer will beat Penfed if you walk in pre approved.

I always take a Penfed pre approval in. But never end up using it as the dealer beats it. My ficos like 770-790 ficos for background info

[RonM21]

That is interesting. I would not have thoight the dealers in most cases, could beat the Penfed preapproval.

[Anonymous]

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@RM21 wrote:
That is interesting. I would not have thoight the dealers in most cases, could beat the Penfed preapproval.

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Most dealership can depending on what brand of vehicle ur buying captive lending can do 0% for their cars Honda... Toyota ... Mazda... Kia and other brand does it for a few certain of their cars

[sccredit]

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@RM21 wrote:
That is interesting. I would not have thoight the dealers in most cases, could beat the Penfed preapproval.

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It depends on a few factors - 

Does the captive offer a promo rate?

Are there rebates offered in lieu of special financing?

I have not had a dealer beat PenFed in the past but if there was a promo rate they probably could.