[celestevah]

I joined a credit union because their starting rates for a 60 month loan was 3.7% and I have really good credit (Over 700). I finally got my approval today (found out I had a $2 charge from my old old college that went to collections... $2...REALLY?!!?!?! from like 10 years ago!) and my rate will be 5.99% If I have my whole check deposited it would be 5.49% but I can't because I need a bank still for when I go home.

My coworker said I should try Ford Financing when I go to get my car but my Aunt and Uncle said they can tack on more money so even if it's 0% or something really low, I'll be paying more later?... I've never had to do this before so I have no idea what they're talking about.

If anyone can enlighten me on stuff, that would be great!

 

[cat]

When Ford is trying to unload their cars, they offer very good financing rates (right now you can get 0.0% on a new Focus). Since the Fiesta is so new, they're not doing any special rates for it, so a 60 month loan has a rate 6.9%.

I think there's a thread in the "Off-Topic" section where people have posted rates they've found, so I'd check that out. I'm still going to do individual research, but they should be able to help you at the dealership as well. When I bought my last car, they found the best rate was through a credit union and got the account set up for me and everything.

 

[GapBoyPCS]

Sometimes, bank financing will be better than the manufacturer. Some dealers often offer BETTER financing that what your standard bank rate would be, as well as the manufacturer.

The rate depends on a lot of things (promotions, desire to sell, demand for the vehicle, market rate, your credit rating). For anyone looking out there, just shop around and know what you're getting into.

 

[rweidman]

Low interest rate

Got 2.8% on 36mo. from M&I Bank of Milwaukee WI. My dealer did a search and that rate over the 4.9 that Ford offers. Most dealers can find the best rates for you.