OK, so I haven't financed a car in quite a while but I got a good rate from my credit union so I figured I would go with them. I've spoken with the dealer a couple of times and he keeps telling me that they can almost certainly give me a better rate. I still want to go in knowing I have financing, then if MINI can do better, fine, I'll go with them.

My question is, should I get the check from the credit union and take it with me or do you still have 3 days to find other financing (which, of course I already have) I think it used to be that the dealership would finance the car and you had 3 days (I think) during which you wouldn't pay finance charges and you could cancel the loan.

I just hate to have the credit union cut the check and then have to pay any amount of interest, even a few days. Does anybody know how this works?

Laurie

 

Forget the credit Union. Go with http://www.peoplefirst.com.....the best auto loan experience.

 

I have to disagree with Cooper4us on this one. It's all about the rate. Just wait to see what the rate at your dealership is. My dealership nor peoplefirst could beat the rate at my credit union. Another good thing is that the Credit Union is local, and they just take the payment directly from my paycheck that is direct deposited. I went and got the financing for the MINI from my credit union that I've gone to for years, and she liked the MINI so much after writing my loan that she went and bought one off ot the lot the same day. Either way, it's about the rate. Service is important, but if it's your credit union they will meet the customer service level of any online institution or dealership.

My 2 cents

Cabbage

 

Check out this thread for further information. Good luck!



https://www.northamericanmotoring.co...mp;topic=14503

 

>>I have to disagree with Cooper4us on this one. It's all about the rate. Just wait to see what the rate at your dealership is. My dealership nor peoplefirst could beat the rate at my credit union. Another good thing is that the Credit Union is local, and they just take the payment directly from my paycheck that is direct deposited. I went and got the financing for the MINI from my credit union that I've gone to for years, and she liked the MINI so much after writing my loan that she went and bought one off ot the lot the same day. Either way, it's about the rate. Service is important, but if it's your credit union they will meet the customer service level of any online institution or dealership.
>>
>>My 2 cents
>>
>>Cabbage


Peoplefirst also has direct withdraw from your checking or savings account and you can manage your account online for free 24/7. The service level is fantastic..prompt, professional and courteous. Why a traditional bank or credit union has to come between you and your money?

Peoplefirst beat my Credit union by more than half a point in interest on a 36 month loan. The Credit Union is typically more hassle, you need to go to their branch office to complete the loan application process, meanwhile Peoplefirst gets you approved in 15 minutes and you get a no obligation bank check in your mailbox in 2 days.

Peoplefirst beats the Credit union in rates and convenience hands down.

Sorry but I totally disagree with you. Credit Unions and Traditional banks have ZERO advantage over the Peoplefirst loan experience.

_________________
'02 Cooper CVT
On order: '04 Cooper S (Est production date: 9/5/03)

 

Cooper4Us,

I wasn't bashing you, I guess it just depends on what kind of relationship you have with your credit union. The branch manager lives right down the street from me, and my relationship is fantastic. All of the tellers know me by name, and personally, this isn't matched by an online institution. It was just my 2 cents, as I stated, not an argument.

Cabbage

_________________

 

>>Cooper4Us,
>>
>>I wasn't bashing you, I guess it just depends on what kind of relationship you have with your credit union. The branch manager lives right down the street from me, and my relationshi is fantastic. All of the tellers know me by name, and personally, this isn't matched by an online institution. It was just my 2 cents, as I stated, not an argument.
>>
>>Cabbage

Hey cabbage, that's quite all right. Your situation seem to be very favorable when it comes to dealing with your credit union. I also have an excellent relationship with my bank and Credit union but none of them could touch the Peoplefirst rates and not even the dealer (BMW Financial Services) were able to match them. That was almost a year ago when we got our '02 Cooper CVT which is fully paid off now.