I am trying to purchase a new car that is $16,500. Please provide links to banks and no credit unions, that offer auto loans under or equal to 5% I don’t mine opening up credit cards or other types of accounts for discounts. Thanks and I REALLY appreciate the help!
My credit is excellent- Middle score of 783
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well buddy its really based on your credit..if its good the you have a good chance at 5 %
Consumer car loans range from 7-9%. I dont know of any bank that would give you a car loan for under 5%. Some new car manufacturers subsidize their loans so if you go with one of those you can get something under 5%, GM had 0% at one time.
783 is a GREAT score.
Banks can never beat credit unions’ rates because banks are in business to make a profit. Credit unions are non-profit organizations.
Why wouldn’t you want to finance through a credit union?
It makes the best financial sense for you.
You would definitely qualify for the lowest rate.
Right now my credit union is offering 4.69% for 72 months with good credit. 783 is great credit.
You should not be required to open up other accounts, so I wouldn’t even mention that when applying. It will only hurt your credit score because it increases your potential debt.