I got my 2008 Nissan Rogue SL AWD, Wicked Black (that is what they call the color black, really) and I did it with the help of this forum. I feel like I made out like a bandit! The valuable information on applying to multiple sources, especially credit unions made it easier to expand my options. I applied to Chase, Capital One, CCCU and my local CU and was approved by all. I am happy to say that CCCU was the lowest at 6%. But, when I presented this to the finance mgr at the dealership, who by the way tried to quote me a rate >10%, he was able to find it somewhere in his bag of tricks a way to approve me for 5.24%!!!!!!!!! Yes I am happy! Considering that 12 years ago when I bought my Nissan 200SX I was charged 13% by Nissan. I am always telling my friends about myfico.com because the information is valuable. I saved alot of money in interest since I had my own financing and they needed to beat it to get the financing rights. Thank you to everyone for your valuable input and letting us learn from your experience.
How long is your loan term? I bought my Xterra in January and got 5.99% for 72 months (although I rolled negative equity into it too)...I'm thinking had I waited a few more months after the Fed dropped their rate 2 more times if I could have done better.
My loan term is 63 months and I tried to keep it as close to 60 as possible. Since I plan to pay extra on the principal I can still accomplish 60 mos or less..
Thank you UpUpUp! I will say this, if you do your homework anything is possible! I felt confident that I got a good deal and did not stray too far from my $350/mo. target pymt by focusing on the price of the car!!!!!!!!!!!!!! And not focusing on the payment, at least not with the dealership. I did my own calculations on Edmunds.com and Consumerreports.com. I would recommend doing your homework!