I have been on this board for a few short months and I received quite an education. My husband and I were discharged from our Chapter 13 BK in 2/2009 and we were desperate for a better automobile. We've been driving a 1995 Dodge Caravan that was on its last leg. I've been spending the last few months cleaning up my report, establishing cc credit and maintaining a very low utilization.
I was approved for a car loan first by Capital One Auto (@ 8.2% for a 2007 year model, lowest APR was 7.2% for a 2009 model). The next morning I went to my credit union (whom I've been with for 3 years) and after a painless application, I received a rate of 5.5% up to 20K.
This week I bought a 2007 Chevy Equinox with 22K miles (one owner - lease turn in) in PRISTINE condition for $16,775.00. CARSENSE BABY! NO MONEY DOWN required and payroll deducted car payments.
I strongly suggest everyone to TRY your local CREDIT UNION FIRST!