I'm going to start shopping for a loan next week. People have told me to apply at credit unions.

 

whoever gives you the best rate is the best place to get a loan.

 

^^^ +1,000,000. For ex...I currently have a 99 ES300 Lexus Coach Ed I bought almost 3 years ago for 13K. Anyhow, I took a ridiculous loan out for 22.99% percent (I know its crazy and never again) but after about almost a year I refinanced it down to 8.5%. I was paying 474.77 for 60 months and got that down to 374.77 48 months with University of Illinois Employees Credit Union ( www.uiecu.org ). All I needed was 5.00 in a checking account and the rest is history!

They work!

 

Yeah, I went through my credit union and got my loan for 6.6%. Plus they seems to be much nicer people.

 

credit unions are the best place to start... however the current interest rates are not in their favor and hence they might not be able to offer you a better deal than the dealers...

last few months the dealers have been beating down the credit unions or banks by a good 2-3% margin.

 

22.99% wow. your credit card might have had a better rate... well maybe not if that's the CU rate you qualified for. ouch

 

I used to always use my credit union, but in recent years, I've found better deals through the dealer than my credit union had. Even on a mortgage, their deal was rather sour compared to what I got through a broker.

 

go to http://www.joinacu.org/ and find a credit union that you're eligible to join. i work for a CU and we usually have a lot better rates than everyone else.

 

Actually at the time I got the first loan it came from Roadloans (never again). After burning a hole in my wallet for about a year, I couldn't take it anymore and ended up refinancing. Should have done it much sooner. Would've saved a ton of cash and time off my current loan (and yes I feel crazy for accepting that first offer).

Hopefully, the next loan (for the upcoming G35) will be lower than the 8.5% I have now on the Lexus.

 

+1 for credit union !!! cant go wrong!!!!

 

Not unless the dealership is offering low fixed interest rate to sell the cars...Like honda is having its 2.9 APR for the 4th of July weekend...You should look into that...Credit unions won't be able to beat those rates because they are promotional rates to sell cars from the factory...I think infiniti is offering 1.9% for lease...Go to Edmunds.com and they will tell you if the factory has rebates or special financing...

 

Here's something for you guys to learn!!!!!

I work for a credit union the MAJORITY of the time we have better rates. Our products are cheaper and the same too i.e. GAP/ Extended warranty.

If a dealer offers you a lower rate they go ahead and rape you with their products i.e. $700 Gap, 2000 Extended warranty. and other stuff they charge. Majority of the time if you go to a credit union and take a one percent increase in a loan at a credit union you still come out winning. I do loans for a credit union and you should see the horrific things that dealers do to people and they have no idea. save yourself the trouble and go to you cu first get preapproved then go look for the car.

 

I have always used credit unions. I just bought an 07 G coupe and the dealer, apples to apples, beat my credit union by .14%. It made it easy financing at the dealership. I also got a great deal on the G and a fair trade in.

 

6.5 at navy army credit union. if you buy new they are giving 1.9 on some cars.

 

banks hate credit unions. I worked for Bank of America corporate and one of their things was to put credit unions out of business. Why?? B/c they offer rates better than any banks, and this is a threat to most banks. Most of the average banks would like to see the credit unions out of business...means more interest ppl pay and more money they can make...