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Going to the Chrysler dealer tomorrow to buy a used 2012 200 for 12K. I've bought cars from them before and they used Ally for the loans. Paid off the cars well with no lates, so I have a good relation with Ally. My question is, with good credit, what kind of interest rate (range) should I expect? I want to be prepared for dealer mark-up attempts....
I dont know what ally offers but most of what I have seen can take you down to 2.99 if it has less than 30k miles on it and is a 2012 or newer. Other than that, it might be something like 3.99 to 4.99 to 5.49 based on credit union rates i have seen. It really varies, i have an employee get a 2011 GMC truck with 120k on it for 3.5 with a 630 eq score about 3 months ago. I cant even get close to that and he swears he didnt have a co-signer.
Make sure they dont force a warranty on you. I just went and back to the dealership that i bought my wifes dodge at a year ago today. Getting reimbursed for the remainder of the warranty and the guy that said i had to have it to buy the car was fired sometime ago for similar and other things.
It has 36K miles on it. So I guess anything from 3.99 to 5.99 is fair game.....???
@Kratos-TM wrote:It has 36K miles on it. So I guess anything from 3.99 to 5.99 is fair game.....???
With your scores, I can't imagine even paying that high! Have you applied anywhere else, CU, or Chase, BOA, US Bank, etc online? For a 2012 model, as long as you're not looking at 60+ month term, I see no reason to pay more than 3-3.5%... maybe even in the 1.5-2.5% range.
With your scores you'd probably go through Chrysler Capital on the loan. I would explore DCU where you can get 1.9%-2.49% (depending on Direct Deposit) on the loan or a local credit union