I have a 780 credit score and my dealership is saying the best interest rate they can give me (4 yr loan) is 3.9%. I know that historically this is low, however interest rates are so low right now and I keep seeing commercials for other cars with much lower rates.
Anyone else get better rates or is Jeep just not giving good rates for overlands?
I am looking at a Capital One auto loan, they are running 3.99 for 60 & 72 mo but more importantly they have a super easy application where you get approved in minutes and once approved they overnight you a packet + blank check that you write to the dealer in the amount of the Jeep.
Yeah mashie, I used that about 5 years ago when I bought my chevelle. If remember correctly they just approve a black check for up to a certain amount and you just fill in the blanks. Really easy to use. By the way, our trucks are probably sitting next to each other "in bay at facility"
Yeah mashie, I used that about 5 years ago when I bought my chevelle. If remember correctly they just approve a black check for up to a certain amount and you just fill in the blanks. Really easy to use. By the way, our trucks are probably sitting next to each other "in bay at facility"
Thanks BadLuck, if it is as easy as it seems I might just actually use it and avoide the 5.9% special that Jeep is running.
I think you are right on our trucks, yours is one that I check evertime I check on mine. I look at mine, your, Yukon, and Jrfenway . I wish they had some online cameras in the bays to take a peek
Pentagon Federal Credit Union. www.penfed.org 2.99% New or Used all day long. Used PenFed for my last two truck loans but my Jeep dealer found me 2.19% at BB&T for the JGC.
What I choose or choose not to finance has nothing to do with what I can or can not afford, please don't make that leap. TVM tells me that I am better off leving my money in my current investments which will over the next few years pay for the Overland and not be reduced by removing 40k to pay for an item that depreciates the day you drive it off the lot.
Can you share some details? Especially interested in the 0%/60 months deal. I plan to finance the purchase after a hefty down payment, and then pay it off quickly, so I'd be happy to get the lowest monthly payment I can in the meantime as long as there's no penalty for early payoff.
Well I got my rate through Navy Federal Credit Union. I have been a member for over 25 years which played a big part in this as well. Thankfully my parents opened my savings account for me when I was 2.
I just put a call in to them this morning to explore eligibility via sponsorship through family members. They are offering rates "as low as" 1.99% on their website. Not as good as 0% but pretty good. They advertise a lot here in the DC area, for obvious reasons.
They do have the best rates on financing. I have my house and car financed through navy fed, but I do most of my banking with USAA (better rates on checking/savings)
I agree with Mashie on keeping money in investments but I'm more bewildered why NFCU would offer anyone 0% financing when they have no relationship with Chrysler? Doesn't seem like a smart move by them if they are giving away money and making nothing in return???
I agree with Mashie on keeping money in investments but I'm more bewildered why NFCU would offer anyone 0% financing when they have no relationship with Chrysler? Doesn't seem like a smart move by them if they are giving away money and making nothing in return???
Do you or somoene you are relatives with have to be in the Navy to join NFCU or can anyone join like some credit unions for a $25 fee.
If that is the case I would join, take advantage of 0% for 60mo and have the jeep completely paid off with zero interest. Thats making their money for for you
Well my situation is different for being a 25yr + member and having my house financed through them as well. I found out about this from my brother that received the same deal on his new outback. Both of us have a house and 25+ yrs with them.
As far as becoming a member I am not sure of the policies. My father was military so my parents opened us savings accounts when we were born. I would have been just as happy with the 1.99% since my USAA savings account makes more interest each month than that. The stars aligned for me on this deal and I couldn't pass it up.
I had a few options.... AAA rate was 2.99 for 60 mo. USAA got it down to 2.79 for 60. The dealer found me a 2.34% rate for 60, which I was happy with =)
My philosophy is that if I'm willing to do a 60 month loan, save for 5 years then pay cash. Then while you own keep saving the payment. If you do it right you are only saving once and making interest/gains on the saved money. Nothing beats paying cash IMO.
Sounds pretty ignorant. I think I am helping the USA economy by buying an brand new car and knowing that I can make my monthly car payments. I have a mortgage and credit cards too, but I make sure it all fits into a budget.
I just joined Navy Federal Credit Union and got a pre-authorized draft at 1.99% for 60 months. I just have to pray that my WK2 won't site in "Storage" too long before the rates change.
Banks don't only collect interest, they also hand out money. If an individual is in debt, he/she probably spent some money before. What many people forget is that this money also paid vages or went into a different business. Sure, it's better NOT to be in debt but you have to rember the consequences of a "cash-only" society. I highly doubt our living-standard would be any higher as it is today.
Imagine a car-industry without credit: A desaster for our economy. Sure, the money you borrow increases the bank's profit - but it's also the money that goes into the economy.
If you save the money, the bank gambles with your savings.
This country is build on spending - and credit is a huge part of it - cut it out and everything collapses. That's how it was, is and will always be.
Bt anyway, I don't want to hijack this thread with my boring economical views..:thumbsup:
WTF happened to this thread? Stop w/ the politics please. All I wanted to know was what other people were getting for rates since I thought the one I was offered was high.
Chrysler mailed, and I received a $1500 lease/purchase loyalty certificate, vaild through Jan.3. To be used toward the lease or purchase of any of the 2011 Jeep product line. Plus, Jeep is waiving the lease security deposit. And my dealer will sell at Invoice, minus the $1300 dealer holdback, including any and all available incentives. That said, the dealer is still making a profit (anywhere between 2% and 4%). The math is simple.
Put 32k down, financed 12k at 1.9% for 3 years thru Chrysler (Ally Bank). Don't like owing lots of money with interest. I feel that the on time payments on the 12k (without high balance) keep my credit score climbing up.
I am 24 and have a 785 score. Jeep gave me 2.9 for 48 months on mine. It was the 1.9 for 36, 2.9 for 48, or 3.9 for 60. I chose 2.9 for 48 and am very happy.