what is the lowest rate for new car loan?

Tam-Dang · 07-18-2008, 07:59 PM

venkat raja a · 07-18-2008, 08:00 PM

I have got the car loan as low as 2.99% APR not from the dealership but from a Credit union.I believe Credit unions are the best for getting low rate Loans for Automobiles.

Nick Nguyen · 07-18-2008, 08:03 PM

It depends. Mitsubishi famously dug their own grave with their 0/0/0 financing deal where they would do 0 down, 0%, and 0 payments until 2004 back in 2003. What ended up happening is too many people qualified for this program who defaulted on their loans in 2004, and those who did make their payments were disappointed when they tried to trade in their cars after 1 year after only making 1 or 2 payments and finding that they owed far more than the cars were worth. Regardless, many manufacturers (though usually less desirable ones) will offer 0-1% rates for qualified buyers. Keep track of edmunds.com or Yahoo! autos for the latest deals.

07-18-2008, 07:59 PM	#1 (permalink)
Tam-Dang Junior Member Join Date: Jul 2008 Posts: 1 Diggs: 0 My Profile Profile Last Updated: 07-18-2008	what is the lowest rate for new car loan? what is the lowest rate for new car loan?

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07-18-2008, 08:00 PM	#2 (permalink)
venkat raja a Junior Member Join Date: Jul 2008 Posts: 1 Diggs: 0 My Profile Profile Last Updated: 07-18-2008	I have got the car loan as low as 2.99% APR not from the dealership but from a Credit union.I believe Credit unions are the best for getting low rate Loans for Automobiles.

07-18-2008, 08:03 PM	#3 (permalink)
Nick Nguyen Junior Member Join Date: Jul 2008 Posts: 1 Diggs: 0 My Profile Profile Last Updated: 07-18-2008	It depends. Mitsubishi famously dug their own grave with their 0/0/0 financing deal where they would do 0 down, 0%, and 0 payments until 2004 back in 2003. What ended up happening is too many people qualified for this program who defaulted on their loans in 2004, and those who did make their payments were disappointed when they tried to trade in their cars after 1 year after only making 1 or 2 payments and finding that they owed far more than the cars were worth. Regardless, many manufacturers (though usually less desirable ones) will offer 0-1% rates for qualified buyers. Keep track of edmunds.com or Yahoo! autos for the latest deals.

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