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Why are my Chase auto loan rates so low?

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Valued Member

Why are my Chase auto loan rates so low?

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.

 

 

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Super Contributor

Re: Why are my Chase auto loan rates so low?

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.

01/13/2018: FICO 829 EQ 823 TU 831 EX
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