What Sort of Rate Can I Get?

[Anonymous]

Not necessarily.  Depends on the the company & what they check.  Sometimes Auto Fico, sometimes regular Fico.  I don't see a problem with your scores.  You should be able to get 0% on some vehicles and the lowest they're offering on others.

[Anonymous]

Please post the rates offered from each bank. I am interested in those recent data points. Also, who they pull. You can inquire about that as well. Thanks. Might get my beamer, making you do all the hard work

[Anonymous]

First go shop for loan after u know what's the max u can be approved for u can go look at car u really want and decide if u wanna go with in house financing if they have 0% or another financial institution. Remember though if the vehicle ur buying offer a cash rebate u taking loan from another financial institution is considered as a cash buyer and u should get rebate

[Anonymous]

Funny you say that, I'm actually looking to get into a CPO 3 series if everything shakes out right

[Anonymous]

Thanks for the tips. I'll be loan shopping June or July.  Only thing I'm worried about are all the inquiries.  Say I apply for loans from all of these places over a 3 day period, will those inquiries effect each other? For example, if I get an inquiry from my local FCU and then get a pull from say capital one a day or two after that will the inquiry from my local FCU hurt my chances with capital one? Or is there like a 30 day buffer for when inquiries take effect on score?

Also, I'm not a member at Penfed or DCU, so ill prolly get dinged for two inquiries one for an auto loan and one for becoming a member.  At least from DCU according to what I've read.  

[Anonymous]

yup, I think 30 days to shop for the best rate and all inq will be counted as one.

[Shooting-For-800]

Cap One just blew my mind!

i have been very very happy with them since my BK a few years ago, but this is amazing!

i went to local credit union and could not get approved for new car at any rate for any amount with $10k down payment.

Cap One just preapproved me for $40,000 at 2.49% for 60 months or 2.93% for 72 months with no money down!

No wonder I am so loyal and yes I will stay loyal.

YMWV, I do spend a lot on my cap one cards and pay them weekly.

BTW my scores are just south of 700 now.

[Anonymous]

Good to know! I'll definitely be giving Capital One a shot when it comes time

[Anonymous]

Filled out the pre qualification app from capital one. 

Up to 25k financing and APR range of 3.24 to 13.22

Was hoping for 30k to be honest.. Hopefully another lender will get there. 

[Anonymous]

Just updating this as I am going through the process right now.  Didn't like the rates I received from Capital One Preapproval so I went ahead and applied to my local credit union that I am a member of to see what they would offer.  I was approved at 2.49% but only with a loan amount of 17,000, which was too low for the car I decided on. (I don't have any prior auto loan because I am 22).

After that I had heard good things about DCU so I went ahead and apped there.  They use Equifax.  I was approved basically instantly over the phone for the amount I wanted which was 24,000 at a rate of 1.99%.  That 1.99% is the rate I would receive if I open an account and make them my primary bank (Auto-payment).  Otherwise I received the same rate of 2.49%, for the full amount I wanted.

So, I am going to go with the DCU offer as I won't have to make a down payment.