Best place to finance a vehicle

[Anonymous]

Hi all!

 I've found a truck I'm wanting to purchase. My wife and I are planning on going to the dealership so she can look at the truck and more than likely purchase the truck. 

I currently have an auto loan through Chase, but I was curious if there were other lenders that would offer more competitive rates. I'm a member of NFCU, and have accounts with other banks/credit unions as well. 

I have also done a preapproval through Cap1 and got preapproved for more than enough to cover the purchase of the truck, but I know that's not set in stone until a HP is performed. 

Any advice would be appreciated! Thanks!

[pinkandgrey]

I would check with your credit unions first, especially Navy. CUs often give very competitive rates kind of as a way of rewarding your loyalty and business. 

Once you have a bunch of quotes, just grab the lowest. Unless you WANT a higher rate, of course....It's your life.

Congrats on the new truck!

[gingerflower]

Capital  One Auto Loans are great. Several years ago I did a preapproved loan app and got approved  for more then I had requested. However, b4 Capt one issues the check they request prove of income and employment contact. Other then that they are great! Good Luck!

[Anonymous]

---

@gingerflower wrote:

Capital  One Auto Loans are great. Several years ago I did a preapproved loan app and got approved  for more then I had requested. However, b4 Capt one issues the check they request prove of income and employment contact. Other then that they are great! Good Luck!

---

I just found out yesterday this dealership doesn't deal with Capital One

[Anonymous]

---

@pinkandgrey wrote:

I would check with your credit unions first, especially Navy. CUs often give very competitive rates kind of as a way of rewarding your loyalty and business. 

Once you have a bunch of quotes, just grab the lowest. Unless you WANT a higher rate, of course....It's your life.

Congrats on the new truck!

---

Apparently another local CU (I am a member with them) has better rates currently so it looks like l'll probably be going with them 

[Luscher]

DCU

[Anonymous]

---

@pinkandgrey wrote:

I would check with your credit unions first, especially Navy. CUs often give very competitive rates kind of as a way of rewarding your loyalty and business. 

Once you have a bunch of quotes, just grab the lowest. Unless you WANT a higher rate, of course....It's your life.

Congrats on the new truck!

---

I agree with going through your CU first.

[Anonymous]

Since you are using NFCU member, use NFCU. The interest rate for a new vehicle is really low. This is from NFCU website: https://www.navyfederal.org/loans-cards/auto-loans/auto-rates.php I made a mistake for not going to them first and some wrong decision along the way whenever I am at the dealership. I could have wait for few more days after the weekend (or rather not buying another new truck since the first one would be paid off by now aarrgh). 2.99% is really good. for 61-72 months. I refinanced my current truck with them in the end but with higher interest rate than original loan due to late model and I was planning to lower down my monthly payment. There are probably some other better loans out there and I am hoping somebody could provide more info on this thread.

[Traveler101]

Penfed just slashed rates. Maybe check out the site if you havent arranged finance yet.

[Dj4Money]

 Maybe I am missing something here.

 Pre-approval from Capital One = Fine 

 They give you a range of rates and that depends on a few factors. You won't know what the rate is until you have picked a car and submitted the VIN number.

 Captive lenders will have the lowest rates they won't be beaten even if 0% isn't really zero...  CU's have excellent rates if you don't qualify for captives lowest rates.

 That's when you take all the rebate money and go with CU. You won't get rebates with low rates, you get either one not both.

 Any reason GM/Ford/Ram are not giving you their best rates? 

 Have you tried State Farm? Yes they do auto loans....