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Best Financing Rates?

Donkey

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I never get good (competitive) rate quotes from USAA. They are the best at everything else.

Local credit unions is where I find the best rates.
Same here, financed my 350 through them and was gonna do the same with the R. Dealer beat their rate by almost 2 percent and I have excellent credit. lol
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Tomster

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czaustin

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I got approved for my R by my local bank that I have a relationship with for 1.74. I told the selling dealer and they beat it at the last minute at 1.7 @ 60 Mo. Tomster - maybe tell the selling dealer you are open to them beating what you have been offered?

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Tomster

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I'm happy at 1.98%. I'm not going to go to extreme measures to get a lower rate. A difference of .25% off of 1.98% is not worth struggling over. I left it with my dealer and either they match it or they don't. Done. I go to work on my next trip, open an account, apply for a loan, and pick the car up. Easy.

Thanks to everyone who gave advice.
 

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krt22

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I've done that, too. I've even lied a couple of times about the rate. :) (Before you condemn me, remember who we're dealing with.)
Nothing wrong with that since the selling dealer will usually gets a commission for selling a loan. If they know you already have secured funding its in their best interest to match it, its only the shady ones who try to mark up money factors and APRs
 

STCoastie

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Got 1.99/48 at local credit union, I had Ford check before signing, they could only get 2.99/60 or 3.49/72. We went in with cash and financing, cause I knew Ford would be high.
 

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Since I'm an old fart (72) and this is my last hurrah for a fantastic performance car Ford was able to get me a 5 year lease through U S Bank. I didn't care about cost of car only if I could make payment which is $803.00 a month. In five years if I'm still kicking I'll just give it back and say I got to do it one last time.
 

STCoastie

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:cheers:
Since I'm an old fart (72) and this is my last hurrah for a fantastic performance car Ford was able to get me a 5 year lease through U S Bank. I didn't care about cost of car only if I could make payment which is $803.00 a month. In five years if I'm still kicking I'll just give it back and say I got to do it one last time.
 

cking

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Here is something I just learned about credit scores and loans. Even though my score is 821 I got turn down by five banks and Ford. So I asked why, the response was "didn't pay as agreed" had to ask what that meant cause I never even paid a bill late and never carry a card balance. Turns out that paying off your note early hurts your credit. Dealer asked don't pay it off in less than 6 months or we have to give back the finders fee! I just can't stand to see the money lost to interest. So the fact that I paid all my car loans off in less than year caught up to me. Finally PNC bought it. So being fiscally responsible HURTS YOUR CREDIT you won't find that written in any fine print
 

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Helmet

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Here is something I just learned about credit scores and loans. Even though my score is 821 I got turn down by five banks and Ford. So I asked why, the response was "didn't pay as agreed" had to ask what that meant cause I never even paid a bill late and never carry a card balance. Turns out that paying off your note early hurts your credit. Dealer asked don't pay it off in less than 6 months or we have to give back the finders fee! I just can't stand to see the money lost to interest. So the fact that I paid all my car loans off in less than year caught up to me. Finally PNC bought it. So being fiscally responsible HURTS YOUR CREDIT you won't find that written in any fine print
You can dispute it and have it removed from your credit history.
 

Stage_3

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Here is something I just learned about credit scores and loans. Even though my score is 821 I got turn down by five banks and Ford. So I asked why, the response was "didn't pay as agreed" had to ask what that meant cause I never even paid a bill late and never carry a card balance. Turns out that paying off your note early hurts your credit. Dealer asked don't pay it off in less than 6 months or we have to give back the finders fee! I just can't stand to see the money lost to interest. So the fact that I paid all my car loans off in less than year caught up to me. Finally PNC bought it. So being fiscally responsible HURTS YOUR CREDIT you won't find that written in any fine print
That's crazy. In other words, they can't make any money off you so they don't want your business. I always pay my loans off ASAP, (not as quick as you), and almost always pay off credit card bills when I get them. So much for being "responsible", huh?!? :shrug: :headbonk: :crazy:
 

cking

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How can you dispute it, it is true I signed a 60 month note and paid it off in some cases 6 months. They didn't lower my score. That would interesting because nowhere in my credit reports they showed me from three big ones equifax transunion ... did they mention it. But all banks when I asked why said the same thing. So I don't think you get to see your full report. Just more mushrooming! I can see why if they paid the dealer say 1% on a 60K loan they start out $600 in hole so it probably take them 6 months to get even, and feds won't let them use a prepay penalty. So just something people should know, the rich probably already know, I'm just a penny pincher.
 

swedensky

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It doesn’t hurt your credit. What it does is gives banks less confidence in loaning you money. What if you came into cash and paid them off but won’t come into cash this time around? What proof in your credit history do they have that you can sustain a high payment for a period of time?
 

cking

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It doesn’t hurt your credit. What it does is gives banks less confidence in loaning you money. What if you came into cash and paid them off but won’t come into cash this time around? What proof in your credit history do they have that you can sustain a high payment for a period of time?
I would agree if I didn't have 40 years of doing the same thing on collection of car loans and house mortgages. It just took them years to figure it out that I was using them a cheap float.
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