topic Re: How to get the best rate on a used auto loan? in Auto Loans

How to get the best rate on a used auto loan?

Anonymous — Wed, 27 Apr 2016 02:36:29 GMT

Hi everyone,

I just got into an accident with my old, faithful beater '97 Honda. The insurance company will total it so I'm in the market for a used car. In this case I'm looking for a truck in the $25,000 - $30k range. I'm in Colorado and I have a 760 credit score and income shouldn't be a problem. How and where do I apply to get the best rate. I'd perfer an online application process and I'd rather not have to join a credit union.

The only time I had a car loan was years ago from the dealer and I'd rather get pre-approved and go with my own financing this time. I just don't know where to begin.

Thanks,

Chris

Re: How to get the best rate on a used auto loan?

StartingOver10 — Wed, 27 Apr 2016 11:01:09 GMT

Welecome to MyFICO

Credit Unions are your best resource for a low rate auto loan.

However you do have to join them if you are going to get a loan from them. It is very inexpensive to join and everything is done online. DCU is a good one for very good rates. Why do you prefer not to get your loan thru a CU?

Re: How to get the best rate on a used auto loan?

Anonymous — Wed, 27 Apr 2016 15:20:03 GMT

Welecome to MyFICO

. Why do you prefer not to get your loan thru a CU?

I don't know, I guess I just thought that I only want a loan so I don't want to join something. I have a bank account and I'm happy with them.

I looked at DCU and it seems pretty competitive and that's the info I was looking for.

thanks

Re: How to get the best rate on a used auto loan?

Anonymous — Wed, 27 Apr 2016 18:50:39 GMT

PenFed is another great lender. Competitive rates.