Well, I pulled the trigger on my 2008 Toyota 4 Runner this weekend.
I started shopping around about 8 weeks ago. MyFiCO was my first stop. I got my scores and was able to fix a credit issue that brought all my scores up by a significant amount.
I joined a CU and applied for my first auto loan on 12/8. I got approved for 12.9%. Then I went to a dealer to look at another vehicle (Chevy Tahoe) and was given an 11% rate. I applied for a loan through Bank of America and got a rate of 7.44%.
I have no previous history of auto loans on my credit, and after 2 hours of negotiations at the dealership...and with my BofA loan as a fall back, I was able to take advantage of the 1.9% for 60 months that Toyota Financial was offering.
So, I paid $200 under invoice for a 2008 Toyota 4 Runner with $5000 down and the rest financed at 1.9%!
It helps to be informed and shop around a bit
