I'm looking for a car loan, so that I can purchase a new Nissan Murano. Currently the Murano comes with either a $1500 CashBack (and 5.9% financing) or $2.9% financing (and no CashBack).
Calculations say 2.9% is better. However, if I can get a better rate than 5.9%, it may be worth it to take the CashBack instead.
While walking around town yesterday, I walked into US Bank and saw that they had an auto loan special of 3.99% for up to 36 months. This looked like a really good deal from a bank and I just found confirmation of it online.
Decent deal if you need > 36 months. Otherwise, the US Bank looks better due to not having to join the credit union for $20, especially if you can drop the rate by 0.5% when buying a green car. Thanks though, I prefer a longer term, like 60 months and may go with PenFed.
biturbomunkie
Member
posted: Jul. 16, 2009 @ 7:52p
navy federal has 3.75% APR for new vehicles up to 36 mos (link).
TomE711 said: Last I checked a Murano is not a green car, why are you fixating on the .5% drop if it would have no effect to you?
I never said Murano was a green car. For people who buy green cars, I mentioned a .5% drop.
Johnacon
Member
posted: Jul. 17, 2009 @ 9:58a
There are all kinds of credit unions in San Antonio that have rates lower than 3.99% for up to 60 or even 66 months. Randolph-Brooks, Firstmark, etc. I realize that you probably aren't eligible for membership since you don't live in SA, but the point is more that there have to be better rates than the US Bank one that you can get.
Ended up getting approved for Penfed @ 3.99% for 60 months. Thanks, shakyhands!
patrix
Member
posted: Jul. 24, 2009 @ 9:11a
DCU (www.dcu.org) has 3.9% right now (up to 60 months) if you put down atleast 20% downpayment. Also, there's an extra 0.25% discount if you buy a "green" car.
mlga
New Member
posted: Aug. 1, 2009 @ 2:25p
OMG--Just called a US Bank Branch near me in Oregon, and the rate is 3.33% for a 12 to 36 month new car loan for top tier credit. Plus, if the car qualifies, can get the .5% discount for the EPA rated green car on top of that! Can't find the 2010 model rating for the car we are purchasing yet however. BTW, the US Bank website still lists the rate at 3.99 even though the loan officer said it's only 3.33% right now!!!! Great for those who can do a 36 month term. Editing this to add that there is a 1% origination fee, and a $50 fee for this rate.
mlga
New Member
posted: Aug. 5, 2009 @ 3:34p
Update to previous post. US Bank said that the .5% discount does NOT apply to 2010 cars. But, my loan officer fought for me and they honored it since I had applied for the loan based thinking that it would apply to my new 2010 car.
I just got an auto loan at my local branch at 3.49%/36 months for a used car. I had to get their Five Star package (open new checking & savings with autopay) to get that rate. I did the online application and the branch contacted me. The whole process took 3 days. The fees came out to $125.
yeahsure
Broke Member
posted: Aug. 27, 2009 @ 11:16a
Bank of America has good rates as well (doesn't beat PenFed, but no hoops to jump through on sign up). http://www.bankofamerica.com/vehicle_and_personal_loans/index.cfm?template=auto_loans
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