APR on your FRS/BRZ?

[ihaskrayon]

Originally Posted by poundsand

You're ok paying extra just because it's fair enough? If someone were selling the same car across town for $500 less, would you have been like, eh, this process is fair so I'll buy it here anyway?

Well, first I was saving more than $7k buying from Clint at Heuberger. Second, I had my girlfriend co-sign because she has terrible credit/no credit history and I want her to start building a solid credit history. So overall, I don't mind the 1% savings over a 60mo term. I also plan on paying more than my minimum monthly payment so over the course of time, I wont even pay the full 2.9% on the purchase price

Edit: and also, I've paid more for a product because the service is better there over the cheaper place

[Chauntalei]

Originally Posted by poundsand

What's your credit score? Dealership doesn't care because they're getting paid. They don't care if you put 0 down or $10k down, as long as they get paid (the larger down payment helps with selling a loan if you have bad credit though). They're probably also getting a kickback on that rate from the lender.

It's noticeably better now, but at the time it was mid 500's.

[Ganthrithor]

Came expecting wings. lol.

[enwave]

I put half down and financed the rest despite having more than enough cash to pay it off. This is because I'm 25 and have been making a lot of money for years, and never actually built any real credit. Lived a cash only lifestyle. So I had a zero credit score (no credit references at all), but $50k sitting in a bank account, another large amount in stock, and a very very good yearly salary.

Still, I only got 8.2% because of zero credit references. Decided to do it anyway to build up credit. Will refi after six months down to a really really low rate I assume.

Still, kids, be smart and build credit early if you have money to do so.

[BRZNutt]

I have a Stage II APR tune on my....wait a minute that was my VW GLI.

I think the interest rate on my loan is 2.8%

[deange]

1.9% through SOA. I showed them the rate I was offered through USAA and they beat it. My credit is in the 780s.

[tracerit]

1.59%. I was approved for 100% 1.49% with PenFed (when they had the deal, not sure if it's still on) but since Heuberger got me an excellent deal on the price of the car, I went with them. They also made the process easier as well.

[iamsatan]

I got 2.9% for 63 month financing, my credit score is in the 700s last time I checked.

[sprintertrueno86]

2.19% for 72mo through a credit union the dealership goes with. Didn't know my credit was in the 800's Only have student loan and 2 credit cards.

[Enraged21]

Originally Posted by vash_241987

Yeah thanks for the advice!! Well I went and left the dealer in the same car I drove in. Well my credit is at 648, but there was something I didn't have which was no auto loan history. I didn't even ask my mom to co-sign cause I know she has a not so great history.

Their APR was stupid high around 18% they bumped it up to $31k asked $2500 down and $741 a month (guessing 60months) So I decided what my credit union would say. They said about the same thing as the dealer, but here's what they suggest. I need to be with my current job for 6 months (been only working for 1.5 months) and have a co-signer w/ good auto loan and they quoted me at 7.25%. Or if I wanted to do it by myself, get a loan for a used car between $5k-$10k and have it for a minimum of 6 months.

Suffice to say it was a learning experience. Oh we'll there will always be another car. Now I know what I need to do 2nd time around.

I was in a similar situation. I had no credit history what so ever. I went into the dealer WITH a co-signer (step dad) who has very good credit, but they were still asking for 17% interest. That wouldn't made the payments around $690 for me. I walked away.

I went and got pre approved at a credit unionion WITH NO co signer and they approved me on the spot for 4%. Being 21 years old with no credit history I thought that was a great deal so I took it. Hence I've been with my job for 2 years though.

My advice would be to wait it out and keep saving. By then you'll be with your job for a longer amount of time, and you'll probably have saved up a good portion for a down payment.


The dealer told me to buy a used car to build my credit. Keep it for a year and make payments on time. But I didn't want any other car except for an FRS. I already had a beater. So you're choice if you want to purchase a used vehicle and go that route. But I decided not to.

[vash_241987]

Originally Posted by Enraged21

I was in a similar situation. I had no credit history what so ever. I went into the dealer WITH a co-signer (step dad) who has very good credit, but they were still asking for 17% interest. That wouldn't made the payments around $690 for me. I walked away.

I went and got pre approved at a credit unionion WITH NO co signer and they approved me on the spot for 4%. Being 21 years old with no credit history I thought that was a great deal so I took it. Hence I've been with my job for 2 years though.

My advice would be to wait it out and keep saving. By then you'll be with your job for a longer amount of time, and you'll probably have saved up a good portion for a down payment.


The dealer told me to buy a used car to build my credit. Keep it for a year and make payments on time. But I didn't want any other car except for an FRS. I already had a beater. So you're choice if you want to purchase a used vehicle and go that route. But I decided not to.

Yeah, I was thinking the same about buying a beater, but I already have one lol.

[garby]

Originally Posted by tracerit

1.59%. I was approved for 100% 1.49% with PenFed (when they had the deal, not sure if it's still on) but since Heuberger got me an excellent deal on the price of the car, I went with them. They also made the process easier as well.

+1 - I also got 1.59% from Hueberger and a sick price on the car itself. You really can't go wrong...

[meeskee2]

1.79% for 60 months, with no penalty.

[mikepaul21]

I got 1.79 from my Credit Union, I was so excited I almost bought the car in cash then I realized that this will probably end up saving me money when I buy a house within the next few years