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Dec 30th, 2023
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 Re: Auto loan Question (buying today..maybe)
[Re: airforcefishin]
#12828050
07/14/18 02:39 PM
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Joined: Sep 2005
Posts: 28,260
Brian Spagnola
TFF Guru
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TFF Guru
Joined: Sep 2005
Posts: 28,260 |
Also note, if the store you are going to is owned by Autonation, you are going to have about the worst of it. They have what they call the "Bible". Everyone gets the same circus of stuff you have to do before you can buy a car.
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Re: Auto loan Question (buying today..maybe)
[Re: Uncle Zeek]
#12828051
07/14/18 02:39 PM
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Joined: Jul 2010
Posts: 9,520
TR176
TFF Celebrity
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TFF Celebrity
Joined: Jul 2010
Posts: 9,520 |
So I was preapproved this morning for a loan through USAA and know the interest rate, should I tell them i am preapproved already and see if they can beat the rate? Depends how quickly you want to get the deal done. Last time I bought a truck, I did this and the dealership beat it with a slightly lower rate. We didn't waste alot of time with them quoting me higher loan rates first. You are in control now. Forget about all the finance machinations (credit life, gap, etc) and just work on the price of the car. Be warned they will slap a from in front of you trying to get your identifiers. By all means tell them you have a loan and give them the info on that. In their defense they have to weed out time wasters with poor credit.
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Re: Auto loan Question (buying today..maybe)
[Re: airforcefishin]
#12828106
07/14/18 03:53 PM
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Joined: Jan 2013
Posts: 7,275
Scoundrel
TFF Celebrity
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TFF Celebrity
Joined: Jan 2013
Posts: 7,275 |
Go to an online credit union auto calculator and get the monthly payment estimates in the general price range for $1,000 increment ranges at the length of loan term you are looking at. For example $15,000 at 48 months = $xxx monthly, $16,000 = $xxx montly, $17,000 = $xxx montly. Dont be surprised if they start with significantly higher monthly payments and be persistent that you know upfront how much your monthly payment should be for a given vehicle price + TTL. Remember they need to sell vehicles more than you need to buy one from them. Be patient and good luck.
Last edited by Scoundrel; 07/14/18 03:54 PM.
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Re: Auto loan Question (buying today..maybe)
[Re: airforcefishin]
#12828140
07/14/18 04:51 PM
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Joined: Jan 2008
Posts: 41,939
Ghost4BH
TFF Guru
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TFF Guru
Joined: Jan 2008
Posts: 41,939 |
I got 3.49 at Credit Union of Texas about 3 weeks ago. Give them a try.
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Re: Auto loan Question (buying today..maybe)
[Re: airforcefishin]
#12828260
07/14/18 07:27 PM
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Joined: Jan 2013
Posts: 1,310
airforcefishin
OP
Extreme Angler
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OP
Extreme Angler
Joined: Jan 2013
Posts: 1,310 |
Looked at so many trucks didnt realize this one had be wrecked so no go. USAA has me At like 4.5 right now. Going to look at one from Texas direct auto. There website says they can beat that
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Re: Auto loan Question (buying today..maybe)
[Re: airforcefishin]
#12828379
07/14/18 09:25 PM
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Joined: Apr 2017
Posts: 12,204
tmd11111
TFF Guru
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TFF Guru
Joined: Apr 2017
Posts: 12,204 |
USAA isnt bad for average credit. If you have exceptional credit they are easy to beat. A few months ago when I bought my truck USAA was 3.49%. I got 2% through US Bank.
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