topic Auto loans in California in Auto Loans

Auto loans in California

xenon3030 — Sun, 19 Jun 2022 05:15:52 GMT

I want to apply for an auto-loan soon (new car). I have Fico~800. I heard that credit unions might be better options instead of e.g. BOA/Chase. Please inform the best places that should get considered.

For a car with MSRP~50-60k, is it feasible to get ~60-72 months with APR~2.2%?

Re: Auto loans in California

Credit4Growth — Sun, 19 Jun 2022 23:59:53 GMT

It is feasible (in most cases) to obtain a lower rate from a credit union rather than a most banks.

I do not think 🤔 most places are currently offering rates that low. 2 day ago i had been searching around to see a decent range of rates for my cousin. I personally did not find a anything below 2.59% or 2.69% concerning the CUs he may be able to join.

Have you shopped around (viewed rates of local credit unions and institutions you have arelationship with)?

Have you looked into manufacturer's financing programs?

Re: Auto loans in California

Kforce — Mon, 20 Jun 2022 03:52:12 GMT

@xenon3030 wrote:
I want to apply for an auto-loan soon (new car). I have Fico~800. I heard that credit unions might be better options instead of e.g. BOA/Chase. Please inform the best places that should get considered.

For a car with MSRP~50-60k, is it feasible to get ~60-72 months with APR~2.2%?

Maybe a month or two ago.

Current looks like 2.49 to 2.65 for 49-60 months.

First City Federal CU was my lowest

[ https://www.firstcitycu.org/ ]

Re: Auto loans in California

xenon3030 — Mon, 20 Jun 2022 04:07:35 GMT

The majority of the rates that I see in the credit unions around in the Bay area (60-72 months) are within ~2.5-3.5% range. I will search more.

Does SoFi provide auto-loan? From its website, I can only see refinance but not finance. If the rates look good, I may finance with something else and afterward, go for an immediate re-finance to save HP.