Financing and interest rates - Page 5

WhiteMale · 01-04-2023, 11:57 AM

End of August I was still able to squeak in on 3% when the fed first started raising rates but it became a point of concern the timing just worked out plus I have 825+ score but I got very concerned at the time I hit 3800 end of Jul and had a VIN. It's gotta suck right about now.

Preemo · 01-04-2023, 12:17 PM

yeah its def gotta suck right now. I dont think I would have made the purchase if my rate was much higher. That would have totally sucked after waiting 7 months for my car. Im sure you waited just as long

WhiteMale · 01-04-2023, 01:22 PM

Quote:

Originally Posted by Preemo

yeah its def gotta suck right now. I dont think I would have made the purchase if my rate was much higher. That would have totally sucked after waiting 7 months for my car. Im sure you waited just as long

I had a 21 and then a 22 on order before this 23 finally came up for me

BowTie-Guy · 01-04-2023, 02:55 PM

Before you sign the paperwork... there is a line somewhere on there that will tell you the total amount you will end up paying after the end of the term. Make sure you look at that. If you're not putting anything down & paying over 5% or 6% interest you'll be in shock. I have over an 800 credit score & got the best rate I could back in November @ 6.29% & would've ended up paying almost 13k in interest. That was a deal breaker for me.

metalhead79 · 01-04-2023, 05:48 PM

Interest rates are expected to go even higher in 2023 and the Fed does not anticipate dropping rates this year either. 8-10% interest rate on new cars for people with superprime credit scores incoming. Yay!

23Camaro · 01-04-2023, 06:22 PM

Yeah I got a local credit union give me 5.9 but the problem
is it could be six more months before I get a car who knows what rates will be then.

sblavesc · 01-05-2023, 09:07 AM

I ultimately gave up my order because of the rising rates, My order is still delayed and with another rate increase coming beginning of Feb would make it even a worse deal, my other issue was used car trades are coming down fast, I lost almost 7k in a month on my wife's Toyota that we were trading....Just became not feasible.

db2022cs · 01-05-2023, 10:56 PM

I just snagged a 23 2ss 1LE, deposit went to them today to hold. 5.64% from my credit union. I struggled to find one as they kept selling before I could make something happen. Used cars in the trim and everything I want are low 50's. So I luckily found a dealership to let one go for a reasonable price. It's a 300 mile trip away. It's in transit and won't be arriving until next week. I don't know if I would have been able to wait 6-12 months to order mine.

Odabo · 01-06-2023, 07:27 AM

Today it is being reported on GM Authority[/URL] that GM is offering 4.99% financing for up to 72 months through Jan 31. https://gmauthority.com/blog/2023/01...-january-2023/

MPowered · 01-06-2023, 07:46 PM

Quote:

Originally Posted by WhiteMale

I had a 21 and then a 22 on order before this 23 finally came up for me

Damn whitey, you win the award for patience. I only waited a year to get my car and I'm all ticked off.

02blackss · 01-10-2023, 06:26 PM

I managed to get my 23' ZL1 at 4.49 though one of the big banks here in Canada. But it was also the rate GM was advertising. And it was end of October...

Jason

haggler · 01-11-2023, 12:41 PM

before rates went up again, i got 3.49 @ 60 mo in October. I missed the current rebates, but still saved on interest.

bootss · 01-11-2023, 12:55 PM

Yeah, same with mortgages. Car rates just went past that mental upper limit in my head where I don't think I can buy one for a while. I'm going to sit on this ZL1 and consider my payment a privilege because I can see 7-8% being a reality at some dealers.

My credit union is at 5.75%, that's up a lot from what they gave the loan to me for. at 6%, somethin in my brain said no way.

dfirehawkc · 01-27-2023, 11:02 AM

Just bought a 21 2SS 1LE from a private seller and got it financed at 3.69% up to 84 months with my credit union. I chose 72 months to make it a little shorter. CS around 800. I think if you have a good credit score and search enough, you can find something below 5%.

01-04-2023, 12:17 PM	#58
Preemo Drives: Camaro 2ss Join Date: Oct 2022 Location: Albany, NY Posts: 17	RATES yeah its def gotta suck right now. I dont think I would have made the purchase if my rate was much higher. That would have totally sucked after waiting 7 months for my car. Im sure you waited just as long

01-04-2023, 02:55 PM	#60
BowTie-Guy Drives: 2023 Silverado LT Trail Boss Join Date: Apr 2022 Location: TX Posts: 196	Before you sign the paperwork... there is a line somewhere on there that will tell you the total amount you will end up paying after the end of the term. Make sure you look at that. If you're not putting anything down & paying over 5% or 6% interest you'll be in shock. I have over an 800 credit score & got the best rate I could back in November @ 6.29% & would've ended up paying almost 13k in interest. That was a deal breaker for me. __________________ '23 Summit White 1SS 1LE 6MT 4/28/22: 0500 (order placed) 5/10/22: 1100 7/18/22: 2000 Accepted by GM 7/19/22: 3000 Accepted by production control 9/9/22: 3100 Available to Sequence 9/9/22: 3300 Scheduled for Production 9/10/22: 3400 Broadcast TPW: 8/29/22 ---> 9/19/22 ---> NOW 9/26/22 10/4/22: 3800 Produced 10/10/22: 4300 Intermediate Del. - Delivered 11/2

01-04-2023, 05:48 PM	#61
metalhead79 Yep... Drives: 2019 1SS - sold Join Date: Oct 2019 Location: CO Posts: 90	Interest rates are expected to go even higher in 2023 and the Fed does not anticipate dropping rates this year either. 8-10% interest rate on new cars for people with superprime credit scores incoming. Yay! __________________ 2023 2SS ordered 22 Sept 2022 Black/A10/NPP/MRC/Adrenaline Red interior

01-05-2023, 09:07 AM	#63
sblavesc Drives: 2002 Camaro SS, 2022 Acura RDX Join Date: Sep 2022 Location: Illinois Posts: 96	I ultimately gave up my order because of the rising rates, My order is still delayed and with another rate increase coming beginning of Feb would make it even a worse deal, my other issue was used car trades are coming down fast, I lost almost 7k in a month on my wife's Toyota that we were trading....Just became not feasible. __________________ 2023 Camaro 2SS - A10 - 1LE 9/13 - 1100 10/27 - Dealer Allocation - Change Color to Rapid Blue 11/1 - 3000 No TPW 11/21 - 3400 TPW 11/28 12/5 - 3800 12/7 - 4000

01-06-2023, 07:27 AM	#65
Odabo Drives: Chevrolet Blazer Join Date: Oct 2021 Location: Space Coast Posts: 242	Today it is being reported on GM Authority[/URL] that GM is offering 4.99% financing for up to 72 months through Jan 31. https://gmauthority.com/blog/2023/01...-january-2023/ __________________ 2023 2SS 1LE Radiant Red, A10, PDR, Black Lugs, ACS Rock Guards, ACS ZL1 1LE Side Skirts

01-04-2023, 11:57 AM	#57
WhiteMale Drives: 23 ZL1 A10 Rapid Blue Join Date: Aug 2020 Location: MO Posts: 1,992	End of August I was still able to squeak in on 3% when the fed first started raising rates but it became a point of concern the timing just worked out plus I have 825+ score but I got very concerned at the time I hit 3800 end of Jul and had a VIN. It's gotta suck right about now.

01-04-2023, 06:22 PM	#62
23Camaro Drives: Chevy camaro Join Date: Jul 2022 Location: Oregon Posts: 11	Yeah I got a local credit union give me 5.9 but the problem is it could be six more months before I get a car who knows what rates will be then.

01-05-2023, 10:56 PM	#64
db2022cs Drives: 2023 2SS 1LE Join Date: Dec 2022 Location: Raleigh, NC Posts: 114	I just snagged a 23 2ss 1LE, deposit went to them today to hold. 5.64% from my credit union. I struggled to find one as they kept selling before I could make something happen. Used cars in the trim and everything I want are low 50's. So I luckily found a dealership to let one go for a reasonable price. It's a 300 mile trip away. It's in transit and won't be arriving until next week. I don't know if I would have been able to wait 6-12 months to order mine.

01-10-2023, 06:26 PM	#67
02blackss Drives: 2023 ZL1 Convertible Join Date: Jan 2009 Location: GTA Posts: 181	I managed to get my 23' ZL1 at 4.49 though one of the big banks here in Canada. But it was also the rate GM was advertising. And it was end of October... Jason __________________ 2022 Equinox RS 2023 Trailblazer RS 2023 ZL1 Convertible

01-11-2023, 12:41 PM	#68
haggler Drives: '23 2SS RSblue 6MT, sold '19 ND2 Join Date: Dec 2021 Location: Los Angeles Posts: 262	before rates went up again, i got 3.49 @ 60 mo in October. I missed the current rebates, but still saved on interest. __________________ '23 2SS, 6 speed, NPP, Copper-free brakes, 56V Carbon Flash Rims, Riverside Blue 1LE sway bars EOS front splitter 5-6-22:1100, 7-19-22: 3000, 8-3-22: TPW 8/15/22, 10-4-22: ETA 10/13/2022 10-15-22 6000

01-11-2023, 12:55 PM	#69
bootss Drives: 2021 ZL1 1LE with PDR Join Date: Oct 2022 Location: New Hampshire Posts: 263	Yeah, same with mortgages. Car rates just went past that mental upper limit in my head where I don't think I can buy one for a while. I'm going to sit on this ZL1 and consider my payment a privilege because I can see 7-8% being a reality at some dealers. My credit union is at 5.75%, that's up a lot from what they gave the loan to me for. at 6%, somethin in my brain said no way.

01-27-2023, 11:02 AM	#70
dfirehawkc Drives: n/a Join Date: Dec 2014 Location: Tennessee Posts: 21	Just bought a 21 2SS 1LE from a private seller and got it financed at 3.69% up to 84 months with my credit union. I chose 72 months to make it a little shorter. CS around 800. I think if you have a good credit score and search enough, you can find something below 5%.

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