APR on your FRS/BRZ?

[FRSBRZGT86FAN]

I was just wondering, what did you guys get for APR? Multiple dealers told me 3.2%-4.1%. What have you guys gotten? And is it safe to say that should lower in a couple weeks?

[mav1178]

You do know this entirely depends on your credit score, right? What I got versus some other person will vary wildly.

Plus, you could have a perfect credit score with very low disposable income, and get a shit rate.

-alex

[FRSBRZGT86FAN]

Originally Posted by mav1178

You do know this entirely depends on your credit score, right? What I got versus some other person will vary wildly.

Plus, you could have a perfect credit score with very low disposable income, and get a shit rate.

-alex

I am very very aware of that, I was curious of other people's rates if it wasn't too intrusive a question.

I saw someone got like 2.8% or something

[5th 86]

Canada sucks our rates are way higher, mines at 5% over 60 and that was the lowest subaru canada offered, frs was 1% cheaper but i am ok with paying more for the scooby.

[mav1178]

Originally Posted by FRSBRZGT86FAN

I am very very aware of that, I was curious of other people's rates if it wasn't too intrusive a question.

I saw someone got like 2.8% or something

People got anywhere from 0 to 5%... so how does that help you?

You negotiate the rate based on your risk profile and that is what lenders offer. What I get won't be what you will get.

-alex

[Chauntalei]

My APR is 10.5%, credit is terrible. Dealership didn't care though, because I put half of the cost down in cash.

[OakmanSmalls]

I got 2.9% and my credit is perfect

[go2brz]

Got 1.57% from BOA. They even beat my USAA rate which was 2.1%. The dealer found it for me..........

[subyro0]

2.5% for 5 years with no penalty for paying it off early! Blew my mind.

[ihaskrayon]

My credit score is great and I got 2.9%. I could have gotten better if I had gone to a credit union, but this rate is perfectly acceptable for a 60mo term imo

[go2brz]

True. Anything below 3.0 is a good rate actually for a 60 month loan. I actually thought the 1.57% had a catch, but after reading the loan agreement thoroughly I signed quickly. My entire interest payout over five years is $1,108.00., or about $276.00 per year.

The previous post that referenced how each person's rate will vary depending on credit and disposable income is mostly true. But also a history of paying of car loans always on time or early over 25 years is probably a factor also. This is one of the best rates I have ever gotten, as the cars that manufacturerers have put 0.00% specials on in the past are not usually a car that I am interested in as they are quite often the most generic, boring cars that they make (not always but mostly). But then I don't like generic cars........as I used to call GM. (Generic Motors) but Honda, Toyota, GM, Ford and Chrysler (and some others) have a strong history of making generic cars for the masses.

If you can get a loan on a car that is in high demand and has to be ordered in many cases (not all) under 3.0% then you are getting a good rate based on your length of credit history.

[mav1178]

Originally Posted by go2brz

The previous post that referenced how each person's rate will vary depending on credit and disposable income is mostly true. But also a history of paying of car loans always on time or early over 25 years is probably a factor also.

That's kind of my point... we're talking about someone's credit rating (risk) in the context of that person's income and financial health, which has ZERO relevance to what the rest of us are doing.

Much like a house, the bank sees how much you're borrowing versus how much you've put down (down payment signifies a willingness to save towards a goal, something lenders appreciate and take into consideration when underwriting a loan), how much disposable income you have (if you have more than 70% of your income eaten up by rent + your car payment, you're most likely overleveraged and will be at a higher risk of default), etc etc.

I have no idea what the intent of the original question is, considering 1) none of us are lenders, 2) we don't know the credit score, 3) what you pay for financing is entirely dependent on what your lender provides you and what they view you as (low or high risk).

Some banks and credit unions provide better rates if your mortgage or secured line of credit is with them, since they are well aware of your risk profile.

TL;DR - Why are you asking us? Seek a financial professional.

-alex

[White-Out]

Originally Posted by subyro0

2.5% for 5 years with no penalty for paying it off early! Blew my mind.

mine is 3.9% for 6 years with no penalty too

[vash_241987]

Well, wish me luck!! I'm looking into financing a BRZ today in 4hrs. Looking at getting a premium in M/T. Dealer is asking $26,598.