Financing the GT350

[licktensteins]

The best way to get a great rate at the dealership is to walk in with one of the "blank check" options from an online lender. That really puts the screws on the finance manager to get the best rate possible.

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[2015silvergt]

apply for outside financing before you go to the dealership, that way they dont screw you and tell them to beat the rate and you will use their financing. When I got my mustang, I applied the night before for financing through the same company I have my credit card. They approved me for 1.4% for 72 months for 100% of the msrp. I I told the dealer if they could match my rate I would use theirs, the best they could get me was 4% for 60 months or 4.5% for 72 months.

I know a guy that took a loan for 60 months at 10%, I asked if he applied for outside financing and he said no, he then said he was under the impression that the dealer has to give him the best rate he qualified for, the dealer definately made a killing on him.

 

[krt22]

2k they stand to lose to someone else, not bad for what little work it takes to fund a car loan

 

[Spa2k]

I would also check with Credit Unions in your area. The ones around here regularly battle each other for low-interest new-car loans, plus some of them give you a cash incentive like $100 or making the first payment to get you to sign up. All you have to do is make a small deposit ($100 or less) to open the account.

 

[disneyfun1]

im hoping to get a good deal on financing. we are trading in the 2015 mustang gt, that is paid for, so the dealer said i should as an estimate get about 34-35K at least plus cancel the warranty and get that refund, then put at least 15k cash down with it, i have a 15k adm, so hoping my payment isnt too large, or may put more cash down.

 

[npsmith0485]

apply for outside financing before you go to the dealership, that way they dont screw you and tell them to beat the rate and you will use their financing. When I got my mustang, I applied the night before for financing through the same company I have my credit card. They approved me for 1.4% for 72 months for 100% of the msrp. I I told the dealer if they could match my rate I would use theirs, the best they could get me was 4% for 60 months or 4.5% for 72 months.

I know a guy that took a loan for 60 months at 10%, I asked if he applied for outside financing and he said no, he then said he was under the impression that the dealer has to give him the best rate he qualified for, the dealer definately made a killing on him.

My girlfriend pays between 20-26%, i forget. I reamed her when i found out what she did. I thought 10 was very high. 18 months later, and she's still 6k neg equity.

 

[Helmet]

My girlfriend pays between 20-26%, i forget. I reamed her when i found out what she did. I thought 10 was very high. 18 months later, and she's still 6k neg equity.

She should look at getting it refinanced somewhere else.

 

[daltron]

Like others have said, rate shop. Apply to credit unions, banks, etc. Chase and BOA give good rates and DCU and Kinecta are popular credit unions for auto loans.

Never walk into the dealership without a loan. Walk in with the lowest rate and tell them you will only finance with them IF they beat that rate.

 

[FPCV8YO]

Like others have said, rate shop. Apply to credit unions, banks, etc. Chase and BOA give good rates and DCU and Kinecta are popular credit unions for auto loans.

Never walk into the dealership without a loan. Walk in with the lowest rate and tell them you will only finance with them IF they beat that rate.

This, without telling them what that rate is.

 

[torque124]

DCU has good rates, 1.74 if your credit rating is 725 or over (Fico score).
I am on 724, darn, and got 50k financing for 1.99. Happy with that.

 

[Mike02z]

I got 3.44 for 84 months. I have never been late on any payment, ever and never have had a derogatory mar on my report but my score has slipped to 699 due to some recent expenses.

 

[npsmith0485]

She should look at getting it refinanced somewhere else.

Would make sense aside from the fact her credit is terrible at best.

 

[Spacebird]

I had planned on paying for it out right, but I ended up financing $60,000 over three years at 0.74% through Western FCU. Just the money sitting in a money market market account will do better than that.

 

[bretlasalle]

I'm 28 years old - got lucky with some investments I've made in myself and the market. I invest most of my income and therefore invite low rate leverage into my life! At today's rates (basically anything below 3%) I'm willing to accept debt(assuming I can pay the loan off with fun money at any point). Because of this I decided to finance the car with USAA. I paid $90k for the GT350R after taxes and ADM. They were willing to finance $105k on this car, decided on financing $85k at a stupid low interest rate. I still have my 2013 Boss 302 financed with USAA at a .9% interest rate and just can't justify paying that thing off haha. Frankly my thinking is this, if you have the ability to pay cash, you have the ability to assess whether or not you should... It's a portfolio consideration vs. a "how the F can I get into this car" consideration! Not to mention, at 28 I need as much debt as I can stomach - the government has forced a credit rating on us and I need to make sure I play their debt game to stay relevant in society.

 

[firestarter2]

I'm 28 years old - got lucky with some investments I've made in myself and the market. I invest most of my income and therefore invite low rate leverage into my life! At today's rates (basically anything below 3%) I'm willing to accept debt(assuming I can pay the loan off with fun money at any point). Because of this I decided to finance the car with USAA. I paid $90k for the GT350R after taxes and ADM. They were willing to finance $105k on this car, decided on financing $85k at a stupid low interest rate. I still have my 2013 Boss 302 financed with USAA at a .9% interest rate and just can't justify paying that thing off haha. Frankly my thinking is this, if you have the ability to pay cash, you have the ability to assess whether or not you should... It's a portfolio consideration vs. a "how the F can I get into this car" consideration! Not to mention, at 28 I need as much debt as I can stomach - the government has forced a credit rating on us and I need to make sure I play their debt game to stay relevant in society.

Was that your base reviewed on ..DRIVE?

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