12-05-2009 03:35 AM
Hello everybody. About a year ago, I purchased a 2008 BMW 535xi and Chase gave me an auto loan at 4.4%. This month, I purchased a 2008 BMW X3si and Chase gave me an auto loan at 3.2%. How in the world can Chase give rates that are that low to people? I was really surprised since I'm only 22 and my credit score was ~720, and am wondering if anyone else has experienced the same with other banks. I think the banker might have not been able to use a calculator or something.
12-05-2009 05:30 AM
RBFCU offers sub 4% loans. They are probably trying to complete with BMW finance that is opffering sub 1% loans. Not to worry about the banker making a mistake. Once its it on paper and signed, its a done deal.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO