@stagefoursurvivor wrote:
Cap1 just doesn't seem to be a "good fit" for most auto loans, they have very narrow and restrictive criteria.
Captive dealer network
No private sale
Under 100K miles
Rarely offer aggressive APRs
It appears they're content with lower & borderline CRs and they make barge loads of $$ from those loans.
Regardless of CU, they seem to offer the very best rates on auto loans without the same restrictions
Firstly, why would I buy private party? In my experience people tend not to take care of their cars. So unless you find a elderly person or an older person that bought a performance car and no longer wants it, your chances of getting value for the money is greatly reduced, especially at the lower end of the price range.
The dealer network is restrictive, but what you do is e-mail the local dealers on that list what car you want and make them scobble over the price. Nobody is stopping you from using a broker either or Trucar to find the best price.
Actually their rates are pretty aggressive for them, 4.56% for fair credit isn't bad at all, considering other options.
CU's only give you loans and good rates if you have no issues with your credit. I have been rejected for loans from both my CU's for negative credit information.
