Long article but very interesting. I guess the games lenders can play shouldn't be a surprise. Makes me happy my last auto loan was @2.69% from NFCU.
@ntx If you don't mind me asking what was your credit score when you got the 2.69% from NFCU? I'm looking to refinance.
Hi @racole82 ,
I don't remember my scores exactly, but TU9 & EX9 were in the 680-690 range, EQ9 was around 650-660.
It was a new Corolla 100% loan Feb. 2021, ~$23K, 60 months. ( NFCU pre-approval was $25K. ) I had actually financed a different vehicle with them in Sept. 2020 @2.29%, ~$28K loan with $32.5K preappoval, roughly same scores. Vehicle didn't work out for me and luckily I was able to sell it to Carvana for a ridiculously high price ( like those we're seeing now ) before I bought the Corolla. Cost me about $400 / month to drive it for 4-5 months and I was good with that.
Good luck on your refinance
When I bought my new 2022 BMW a few months back the dealer tried to rip me off on the interest rate.
I came on here and posted what was going on. There where several replies telling me based on my DP the dealer should be giving me 0.9% on the car. They found some sort of special financing that I was not aware of and the dealer sure was not going to tell me. So with the advice from my post on here I went back to the dealer and got the 0.9%. If not for my post on here I would be paying 2.9%.
Thank you FICO people