What interest rate are most of you getting and what state are you financing from?

 

Back in Sept '03, I got approved for a www.capitalonefinance.com (Formerly, Peoplefirst.com) 36 month auto loan @3.99% APR to purchase my '04 MCS.

I am financing from Florida, but Capital One Auto Finance is located in San Diego, CA.

No problems with them. Great service, great loan products and excellent rates. Got approved in less than 15 minutes online! The '04 MCS is the second car I finance thru Capital One. The first one was our '02 Cooper CVT which is already fully paid off.

 

60 months @ 4.49%

 

I've got a screwy term, something like 42 months, at 3.9% through our credit union.

 

Be sure to check your credit unions, they often have the best rate. Ours had a "sale" which they do periodically, and I got 2.85 for 60 months if I had it automatically drawn from my account.

 

My credit union did not have very competitive rates in comparison to Capital One Autofinance. Besides they are a hassle to deal with in terms of paperwork and having to show up to a branch office, etc. Capital One approved me in 15 minutes over the internet from the comfort of home. You can't beat the convenience. A got a "Blank Check" 2 days later on the mail.

My dealer, Lauderdale MINI, gladly accepts Capital One Auto Finance blank checks.

 

My credit union gave me a 4.9% but SounthMini in Miami went to 4.2% . I was pleased, to say the least. Gave my CU a big raspberry .

 

I just paid them Cash (check really)

 

BMW's factory APR5.9% 48months IL.

I plan to pay off the loan within 24 months though...so didn't care about
the APR. no penalties for paying early.

 

Pentagon Federal is set up for the military, however, you can join for $25. At 3.69% this is the best I have seen. This rate is also good for used cars! Good luck.

 

I also went with Capital One Auto Finance... got 3.85% but it has to be auto withdrawn from your account. Would have been 4.35 if you want to be invoiced. They approved in less then 15 minutes and was all easy from my home over the internet.

 

4.25% for 60 months.

In April I checked Capitol One and was approved at 3.85% for 60 months, but I didn't need the loan until June when their rates were up to 4.35% (I think).

 

I've never bought a new car before and I've only bought cheap cars and financed through my bank. How do you really go about doing it? Do you have to get ahold of many difference banks/credit unions and have them check on it? Or can you go to one place that will give you your best option?

 

Rates have changed in the last 2 weeks.

5.9% is what we are seeing now for people with credit scores over 700!

no need to compare to what people were getting 6 months ago. It will just depress you.

 

There may be a website somewhere that lets you fill in your info once and then sends it to multiple lenders, but I'm not sure. Capital One is easy to find because they are a sponsor on edmunds.com where a lot of people (me, anyway) go for car info. Credit unions are known for offering low rates, too. Your dealer can (try to) get you approved through BMW. That's easy because you're already filling out paperwork for them anyway.

 

I just went with Capital One three days ago and got 3.85% garunteed for 45 days. Guess I won't be going with BMW when I pick up next week...

 

What's the scoop with Capital One? How can I see what they'll offer me?

Where are they located? I guess I'd have to send in my payment every month?

 

http://www.capitaloneautofinance.com...e/Default.aspx Here is the link. You can see their qouted best prices, but to see what you would qualify for you need to fill out their form. I was approved in 15 minutes and they did not try and hard sell me for anything. Just wanted to know what address I wanted the "blank check" sent to and if I needed it Fedex (for a fee of course). Real, real easy, no prepayment penalty, blah, blah.