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Old 08-30-2022, 11:47 AM   #1
HOTZLE
 
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Financing and interest rates

Would to like hear from everyone who financed, what was your experience with Chevy and the financing end of the purchase and what type of rates did they offer?

Any tips on getting the best rates and not being taken advantage of with fees and "packages" added on.

Come in with a preapproval from my credit union or try gm financial?

Thanks!



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Old 08-30-2022, 12:43 PM   #2
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In my experience when feds raise interest rates, credit unions become the best option unless GM is running a finance special. For instance my credit union has stayed at 3.9% the entire time.
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Old 08-30-2022, 12:46 PM   #3
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Get outside financing rates prior to going to the dealership. They want you to finance with them at the dealership because they make money. But if you have a good rate outside just go with that.
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Old 08-30-2022, 01:00 PM   #4
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Originally Posted by Green Machine View Post
Get outside financing rates prior to going to the dealership. They want you to finance with them at the dealership because they make money. But if you have a good rate outside just go with that.
sounds good, thanks for input.

I will get a rate from my credit union before going into the dealer. I was told that they would try and beat it to gain my business basically.
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Old 08-30-2022, 01:02 PM   #5
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Quote:
Originally Posted by ACESHI View Post
In my experience when feds raise interest rates, credit unions become the best option unless GM is running a finance special. For instance my credit union has stayed at 3.9% the entire time.
That seems to be the best bet. Mine is currently 2.32 for 60 months, 3.49 for 72-84 months.
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Old 08-30-2022, 01:03 PM   #6
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My CU is 3.5 up to 48 month and 3.75 48+


I would get approval from your lowest source and let them try and beat it.


As for dealer addons, I have found 3 dealers now in my search for the camaro


1. Add on central, big pass
2. MSRP not budging
3. Will take GMS, supplier etc...


Look for a dealer that is willing to deal.
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Old 08-30-2022, 01:24 PM   #7
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Just closed my car over the weekend, dealer gave very bad rate 5.84 and I'm well qualified. the %2.89 rate chevy advertises on their web site is BS. Looking for credit union to refinance, doesn't cost anything to refinance. You should go there pre-approved from cu and let them know in advance
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Old 08-30-2022, 01:38 PM   #8
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Quote:
Originally Posted by Alexk View Post
Just closed my car over the weekend, dealer gave very bad rate 5.84 and I'm well qualified. the %2.89 rate chevy advertises on their web site is BS. Looking for credit union to refinance, doesn't cost anything to refinance. You should go there pre-approved from cu and let them know in advance
whats well qualified? Are you Tier1?

That rate given to you was VERY. Whos the lender?
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Old 08-30-2022, 02:14 PM   #9
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Quote:
Originally Posted by Alexk View Post
Just closed my car over the weekend, dealer gave very bad rate 5.84 and I'm well qualified. the %2.89 rate chevy advertises on their web site is BS. Looking for credit union to refinance, doesn't cost anything to refinance. You should go there pre-approved from cu and let them know in advance
Good to know!
Did the dealer budge on interest rate or work out a deal?

my credit is in the 760-780 range so I am hoping they do give me the best rate possible but I plan on coming into the dealer with my pre approval in hand to work out the best rates
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Old 08-30-2022, 02:16 PM   #10
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Originally Posted by HOTZLE View Post
That seems to be the best bet. Mine is currently 2.32 for 60 months, 3.49 for 72-84 months.
is this GM financial?
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Old 08-30-2022, 02:19 PM   #11
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Originally Posted by coatestavoun@icloud.com View Post
is this GM financial?
No this is my credit union through my employer . I was hoping gm can try and beat those numbers. Hopefully! lol
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Old 08-30-2022, 02:52 PM   #12
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USAA approved me for 3.54 % for 60 months

i haven't seen any better rates lately, so i am happy with it, dealer said they could not touch it so they suggested I do that, so i am.
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Old 08-30-2022, 02:57 PM   #13
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Originally Posted by GroverDill View Post
USAA approved me for 3.54 % for 60 months

i haven't seen any better rates lately, so i am happy with it, dealer said they could not touch it so they suggested I do that, so i am.
Yeah, In the current market that is a good rate. You can’t even get a mortgage at that rate anymore lmao.
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Old 08-31-2022, 07:04 AM   #14
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I went through my CU and just took a check to the dealership. It was the easiest car deal ever. I handed over 2 checks from the bank and signed 3 papers. Keys were in the center console where the dealership owner brought it around front for me.

I recommend getting the money somewhere else. I found out how dealers work and they will lie lie lie to you about rates.
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