Bought son a new car today

[Shogun]

     Went shopping for my son a new car today, he'll be a freshman in college so I wanted him to have a good reliable vehicle.  He somehow convinced me to spend a little more, he got the electronics package, heated seats, bluetooth and the LTX model.  But he's a good kid.

     Went into the finance office, I told them my bank offered me 3.6% and my CU offered 1.9%, so if he could beat that, he's more than welcome to try.  FICO came in at 806 and BOA picked up the loan at 1.74%, so he beat them.

     Took a total of 10 minutes in the finance dept. till keys were in hand and putting the tag on it.  I LOVE myFICO!!!!!!!

[lajntx]

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@Shogun wrote:

     Went shopping for my son a new car today, he'll be a freshman in college so I wanted him to have a good reliable vehicle.  He somehow convinced me to spend a little more, he got the electronics package, heated seats, bluetooth and the LTX model.  But he's a good kid.

     Went into the finance office, I told them my bank offered me 3.6% and my CU offered 1.9%, so if he could beat that, he's more than welcome to try.  FICO came in at 806 and BOA picked up the loan at 1.74%, so he beat them.

     Took a total of 10 minutes in the finance dept. till keys were in hand and putting the tag on it.  I LOVE myFICO!!!!!!!

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LTX? Did he get a truck?.

It sounds like the finance manager took off the dealer holdback to beat that 1.9% Did you buy the extended warranties, GAP, etc, and stuff? Usually they are willing to take the holdback off if you get those because those are highly profitable and the money comes in right away vs the small amounts that comes in from the lender on the hold back

[SamsungHDTV]

nice rate, congrats.

[eddie84]

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@Shogun wrote:

Took a total of 10 minutes in the finance dept. till keys were in hand and putting the tag on it.

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With your scores, I'm not surprised.   Congrats on the purchase. 

[OptimalCS]

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@Shogun wrote:

     Went shopping for my son a new car today, he'll be a freshman in college so I wanted him to have a good reliable vehicle.  He somehow convinced me to spend a little more, he got the electronics package, heated seats, bluetooth and the LTX model.  But he's a good kid.

     Went into the finance office, I told them my bank offered me 3.6% and my CU offered 1.9%, so if he could beat that, he's more than welcome to try.  FICO came in at 806 and BOA picked up the loan at 1.74%, so he beat them.

     Took a total of 10 minutes in the finance dept. till keys were in hand and putting the tag on it.  I LOVE myFICO!!!!!!!

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Congrats!!!

How did you get the offers from your bank and CU? Was it a hard pull?

[Shogun]

No, I called my CU and asked what their rate was.  As for my bank, my LO calls me constantly asking if I need anything.  They are one of the frendliest institutions I've ever dealt with.

[dabrian]

You looking for another son? 

[Shogun]

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@dabrian wrote:

You looking for another son? 

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Unfortunately I have a 14 year old daughter that's right behind him.   Sheeshhh.....  

[Luscher]

so thats a yes? lol

[Shogun]

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@Luscher wrote:
so thats a yes? lol

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LOL... nope...