Ok...so a week ago, I posted how I had a low FICO, and how I got 7.5 from my credit union, which all in all wasn't a bad rate. I allowed my dealership to try and beat this rate (which they promised they could), but alas, the CU won out. As such, I signed all the papers, finalized the deal, and got my check.

Yesterday, my dealership calls me. The guy on the phone says he's the new "business manager" and that he'd like a shot to beat my CU. Within an hour, he comes back with 5.5%!!! He tells me this is with Infiniti Finance. When I ask him why the "other" business manager couldn't even touch my CU rate, he told me the guy had no "chop chop".

While I'm ecstatic, I'm skeptical. Why would it matter who the business manager is? My FICO hasn't changed nor has my income. Believe me, I'm not complaining, but I'm curious as to how someone like myself with a FICO in the low 600's can get 5.5%!!! Doesn't it sound fishy?!

'04 6MT, Laser Red/Graphite, Prem, Navi, 4-Piece Aero, BSM

 

Just make sure it is simple interest and not compounded interest. Also double check your payment schedule with Calculator on PeopleFirst.com to give you an approximate payment. Should be within a few "bucks'. Good Luck and safe driving.

Andrew, We Miss and Love You! Peace!

 

There must be a good reason for a "new" business manager.


04 G35C DG AT
Prem Aero Perf
V1
Blizzaks
R splash Guards

Long Island, New York, USA

 

just a heads up...its probably not the case but anyway...
I watched a program on TV about a month ago how certain dealerships were "fudging" peoples numbers to get the rate they needed to purchase their car and seal the deal...in some instances they change the monthly income to inflate it so they were not considered a "risk",,,,,before you finalize anything just play it safe and go over all your personal info to make sure nothing has been changed in your favor so to speak...I doubt very much if this is the case but just to be sure I would check it out carefully!!!!!20ld4this

04 ivory pearl/willow/5at/prem/sport wheel pkg

 

Statik

5.5% does not sound impossible even if you have a few bumps in your credit score. I received approval today on a 4.5% lease with good credit. As always, take time to read the paperwork and don't feel rushed going through it. Anything you don't understand, ask questions.

For all of you reading this post, you should really do some comparison shopping with 3rd party reputable leasing companies. I shaved $45/month off my monthly payment by doing it. For those of you without a calculator that amounts to a savings of $2160 over the 4 years. Not bad.

2004 Coupe/DG/5AT on order...Is it January 21 yet?

 

The real reason is probably because they make additional money on loans........so rather they lose it, they gave you a good rate!
As others have said, check the payment calculation and make sure they are not charging you something somewhere to get the loan (your credit union won't charge anything).

 

It could be a number of possibilities. They do make money from the bank when you have a higher rate. The bank makes more money and the dealership makes more on the back end. Its another way to make more per car.

 

You forget your dealing with a dealer. Some if not all still practice a lot of "fishy methods" to get a customer approved for financing. All this crap about the old manager might still be the same manager but only did it in a "different way" (wink, wink). Bottom line is see if it makes a difference in your monthly payment from what your getting with your CU and from what they will give you. Goodluck in your purchase you will not be disappointed with the G.



<font color=blue>04 CB COUPE / WILLOW / PREM PACK</font color=blue>

 

I think Statik is busy getting his car this very minute. It was supposed to be here Yesterday. I hope I can get down there before he takes it home.