03-26-2023, 07:27 AM | #1 |
Drives: 2022 Camaro 1SS 1LE Join Date: Nov 2021
Location: Long Island, NY
Posts: 363
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Can I apply the current finance rate to a new purchase?
I bought my 2022 1LE, in June 2022. I was going to buy the car cash, but GM offered me 1.9% financing that I couldn't say no to, so I decided to finance approx half the car.
I have been thinking of trading to a 2023 ZL1. Any chance I would be able to apply the existing 1.9% financing to the new car if I traded the current car?
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2022 Camaro 1SS 1LE 6-speed
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03-26-2023, 07:55 AM | #2 |
Drives: 2016 Camaro 2SS "Convertibobble" Join Date: Mar 2022
Location: Peoria, IL
Posts: 280
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I would think not. Separate car, separate transaction, separate deals. And obviously interest rates have spiked since June 2022, so all else equal, there would no reason for GMAC to leave higher profit on the table by continuing to offer the low rate.
That said, there are often all sorts of financing products available that are simply not advertised on dealer (or even manufacturer) websites, and can't know what they are until you are there, and you ask. (You'd have to be *really good* to get them to tell you over the phone.) Sometimes they don't seem to make any sense in the "real world", but hey, there are things going on in the background that the lay person is not meant to understand, and if they are financially beneficial, and no hidden tricks, use them to your advantage. One obvious advantage you already have is that if you trade in the 1LE, and you had financed only half of it, then the "other half" is your equity now, and that would count as a pretty darn good sized down payment towards the new loan. You should be able to secure the absolute lowest rate they can offer since you'd be borrowing only 50/60-ish% of the cost of the new car, instead of 90%. Good luck. Sounds like a win either way...
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'16 2SS Garnet Red ~24K
"Mods": GM wind deflector, home-made rear seat delete & platform, not-quite garnet red key fob cover (+10rwhp) '99 4Runner 367K '94 ST1100 146K |
03-26-2023, 02:03 PM | #3 |
Drives: '86 IROC-Z '18 ZL1 Join Date: Jul 2019
Location: Arizona
Posts: 731
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Won't happen. Interest rates are completely different now.
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03-26-2023, 02:06 PM | #4 |
Drives: 2023 ZL1 Vert M6 "Sharky" Join Date: Mar 2020
Location: Earth
Posts: 4,028
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You get a new loan each time. Rates will apply at that time
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2023 Camaro ZL1 Vert TR-6060 Sharkskin "Sharky"
Firecracker Red Wrangler Willys, 3.6L eTorque, 850RE 8 speed automatic, 25W Willys package, Technology Group, Convenience Group (aka $600 garage door opener), Cold weather Group, Trailer Tow and HD electric group with AUX switches, 3 piece black freedom top. |
03-26-2023, 02:32 PM | #5 |
Drives: Chevrolet Camaro Join Date: Oct 2022
Location: Tampa
Posts: 57
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In Tampa Florida we are at 5.75% the lowest with credit unions. It’s crazy
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03-26-2023, 02:47 PM | #6 |
Drives: 2020 GMC Sierra AT4 Join Date: Jul 2013
Location: Hanover, PA
Posts: 3,278
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Each deal is separate, all you can do is see how good of a rate you can get now.
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2023 Camaro 2SS 1LE Summit White
1100 - 3/23/2023 2000 - 3/27/2023 3000 - 3/28/2023 3400 - 4/12/2023 — 4/24 TPW 3800 - 4/28/2023 5000 - 5/30/2023 6000 - 6/03/2023 2020 GMC Sierra AT4 6.2L Black |
03-26-2023, 05:25 PM | #7 |
Drives: ZLE/DEMON/GLADIATOR/GSXR1000R/ZX10R Join Date: Aug 2022
Location: New York
Posts: 438
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No.
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2018 Dodge Demon #1399 2020 Jeep Gladiator Rubicon 6 speed manual 2023 ZL1 1LE 6 speed manual ************************* 2018 Suzuki GSXR 1000R 2021 Kawasaki ZX10R |
03-26-2023, 05:43 PM | #8 | |
Drives: 2018 Camaro 2SS A8 Join Date: Jul 2017
Location: East Tennessee
Posts: 11,499
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Quote:
OP, as stated above, this is a new loan and the concept of such automatic continuation does not exist.
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2018 Camaro 2SS — G7E MX0 NPP F55 IO6
735 rwhp | 665 rwtq Magnuson TVS 2300 80mm pulley | Kooks 1 7/8" LT headers | JRE smooth idle terminator cam | LT4 FS & injectors | TSP forged pistons & rods JMS PowerMAX | DSX flex fuel kit | Roto-Fab CAI | Soler 95mm LT5 TB | 1LE wheels | 1LE brakes | BMR rear cradle lockout | JRE custom tune 1100 - 1/30/18 | 2000 - 1/31/18 3000 - 2/06/18 TPW 2/26/18 3400 - 2/19/18 | 3800 - 2/26/18 4300 - 2/27/18 | 4B00 - 3/01/18 4200 - 3/05/18 | 4800 - 3/14/18 5000 - 3/16/18 | 6000 - 3/19/18 |
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03-26-2023, 05:46 PM | #9 |
CamaroLove
Drives: 2023 ZL1 Shark Skin Join Date: Aug 2015
Location: Ask Me. Maybe ill say
Posts: 79
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I was super lucky with NFCR and got 4.79 I begged the dealership to inquire about a different rate from GM but it was a total no go
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03-26-2023, 06:45 PM | #10 |
Drives: 2023 ZL1 Vert M6 "Sharky" Join Date: Mar 2020
Location: Earth
Posts: 4,028
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They are trying to calm down the spending. It isn't working.
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2023 Camaro ZL1 Vert TR-6060 Sharkskin "Sharky"
Firecracker Red Wrangler Willys, 3.6L eTorque, 850RE 8 speed automatic, 25W Willys package, Technology Group, Convenience Group (aka $600 garage door opener), Cold weather Group, Trailer Tow and HD electric group with AUX switches, 3 piece black freedom top. |
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