I was just wondering what kind of interest rate you guys are getting on your new Coupe purchase?

I am going through our local credit unit, BECU (Boeing Employees Credit Union), and just secured a 2.99% loan.

Is anyone out there getting a better deal? I didn't think it was a bad rate but frankly I have not shopped it around so I may be leaving money on the table.

Can I get better and where would that be???

Thanks, Pat

 

I am set at 3% with the local credit union. I too thought that was pretty good.

If it goes down between now and delivery they will lower it - if it goes UP I'm locked in at the 3% rate. Seems like a pretty good rate to me.

 

Artguy, I agree that's a good rate!!

 

I went through my local CU and am locked in at 3% as well.

 

If you can qualify as a member (gov't or military and their immediate families), PenFed Credit Union has great rates. 1.99% up to 48 months, 2.49% for 60 months.

 

I got my financing from Penfed 2.49%. You have to have excellent credit, because there were a bunch of people complaining on slickdeals.net that they were over 700 and were denied. If you donate goods or time to the Red Cross - that also counts. You do have to open an account, so I have a $5.00 deposit which qualifies as a share.

My loan was approved on Thursday or Friday before Labor Day, the check was in my P.O. Box on the following Tuesday.

 

I got the 2.49% as well. My loan was approved same day, and they are holding it until the Coupe gets here so I don't even have to start payments. Definitely the easiest loan process I've ever experienced.

 

Wish I could get a low interest rate like that over here in Canada

 

What are the ranges in Canada?

But there is a flip side. I wish I had your home value!

 

Ya home values have retained well - which is why I don't own - I am really tempted to buy something cheap in Florida hehe.

 

Wow, MINI Financial is asking 3.9%! When I bought my Clubman last year, it was only 0.9%. I wouldn't have bought mine at 3.9%!!

Dave

 

Yhea, have a 2012 clubman S on order and got %3.9, was kinda bummed about that.

 

I'm paying over 6 in Canada with a credit score well above 750. Stupid used car.

 

Refinance at a CU after you take delivery.

 

Guess I was lucky. 06 R53 JCW for 30 months at 3.99%.

 

Nice! I should shop around to refinance, I'm feeling cheated now.

 

CU's have the best rates. Do they have those in Canada?

 

You should always shop around for the best rate before buying the car. If no money has changed hands you can still shop the rate. It's also like buying a house several inquiries will not hurt your credit rating. I shopped before I got decided who to get pre-approved with. It can save you a lot of money.

For new cars I saw rates from 2.99 to 6.99. This with good credit. Used cars typically run a little higher of course.

 

They do have credit unions here, I will make some calls on Monday. This was my first car and in the excitement I allowed myself to be hustled a little by the finance guy. He basically said my credit was great and he was applying at 2.9%, take the keys, it'll go through. Then I got the statement three months later and I was paying twice that lesson learned!

 

In the meantime, you can usually do a search online, find your local CU's and some will post their rates online. You can get a good idea before you start making calls. With your credit rating you should have no problem getting a loan or a good rate. Good luck!

 

Good tip, thanks!

 

Penfed is awesome. I'm younger, over 700 score and refinanced from 3.69 to 2.49. Its about more than just a credit score. I heard great things about them here and its true.