My MCS arrives in a couple of weeks and I need to finalize my financing. The best rate that I can find is 5.79% with Bank of America. My local credit union is higher than that, unfortunately. I should qualify for the best rate available. Any suggestions?

thanks so much

 

Corning Credit Union. not sure how you qualify to use them but i did somehow at 4.65% but nixxed the idea of an '07 and kept Madeline.

 

4.9% 2 weeks ago via usaa. the dealer may be able to go lower than what you found if you show them the 5.79% quote. good luck!

 

4.9% at the dealer (year end special). And 90 days before first payment is due!!

 

How many months is that for? I know the longer you go the higher the rate. Also, did you go through a local branch or their website?

 

I am looking at their website as B of A doesn't do car loans through the branches anymore. I'm looking at 48-60 months

 

4.9 through dealer - but, 90 days without payments?!?

 

I got 6.5 from my credit union, but I wasn't even an "A" rating (I'm that guy that has the money in the bank but forgets to pay on time). The dealer offered me 5.9, but I'm putting 16k down and over the 3-year lifetime it only comes to like $80 total so I decided to not even bother filling out the paperwork (yes, I'm that lazy).

 

3.5% through Navy Federal. gotta love military parents

 

4.94% on 48&60mo
3.94% on 24&36mo

 

I'm paying 6% on Lewis. That was actually the lowest I could find at the time, and it was from the dealer, through a local credit union. I found some that were closer to 5% a month or so before that, but had no idea what rates would do, so I didn't get a loan 'till it was too late. I put down half, so it wasn't that big of a deal in the end. Figure anything less than 6% is pretty good on a new car, especially a MINI.

 

4.99% APR for 72 months at penfed.org and ANYONE can join by becoming a member of the National Military Family Association (NMFA)

 

They will still charge you interest on those 90 days before your first payment. It is better to start paying right away if you can afford to. When I bought my MINI used I set up the first payment date for when I wanted to make my first payment, on the 15th of the month, two weeks after I took delivery. If I had purchased my car on the 7th I still would have had them start payments on the 15th. Essentially you save the interest they will charge you over the three months.

 

i just got mine at 3.99 for 72 months at a credit union in the bay area

 

This is great information. I am not affiliated wth the military and I just joined. The 4.99% rate is good through the end of the month. The rates change monthly, but the girl that I spoke with said the rates have come down for the past 3 months. Thanks for the info.

 

I had 5.9 on my MINI. I piggybacked off my parents credit since I was only 18 though and had zero credit history!

 

....zero......pay in cash

 

Yep, 3.5% for 36 months through Navy Federal Credit Union. Gotta love being former military!

 

Excellent, I also recommend the Penfed cash rewards Visa for those who pay off outstanding balances - 5% on gas and 2% on groceries as a credited monthly rebate. I was fortunate to jump on some 6% CDs a few months ago - hard to find that rate of return on a CD. Happy Clubbin' !

 

2% for 60 months

 

I also just joined the Pentagon Credit Union very easily, and got the 4.99 rate immediately. The membership fee is $20. This will save me close to $500 over the life of the loan when compared to the 5.79 rate from Bank of America.

thanks, nomo1982 and clubmanbound!

 

Now that is just amazing!

I paid in cash so obviously don't have to worry about finance charges, but I'm still jealous.

 

Yeah it was a special deal from my place of finance. I was on the edge for a while about skipping the MCS and investing it or getting the MCS. So I did a happy medium, got the car and will be putting all the money I get for selling my truck in my funds...

 

Sweet deal

 

Ditto!