[JDaniels609]

Going to hopefully be buying the car I ordered 6 months ago this week. My dealer told me using GM finance will get me the best deal through them. Any idea what current interest rates through GM are looking like for top tier credit? Also are there any programs or incentives that apply to the Camaro this month? Ive searched high and low and can’t seem to find an answer. If it’s too private you can also DM me. Trying to prepare for what I’m going to be facing here, thanks guys!

[Nxpress]

No incentives, rates depend on credit, ltv, dti etc.. they want you to finance through GM bc they get better participation from them for your financing.. they will try to mark up the buy rate and pass to you most likely as well..they can mark it up 2-2.5% depending on state

[JDaniels609]

Originally Posted by Nxpress

No incentives, rates depend on credit, ltv, dti etc.. they want you to finance through GM bc they get better participation from them for your financing.. they will try to mark up the buy rate and pass to you most likely as well..they can mark it up 2-2.5% depending on state

Kinda figured no incentives… bummer. I’m hoping my interest rate is 2-3% lol hearing they may try to tack that much on is concerning. It’s definitely possible that I walk on this car after almost 7 months if the deal isn’t right.

[Nxpress]

Term will affect rate too.. in todays market 60 months with 800+ credit 2.5% is doable .. 72+ terms chase, boa, credit unions are best bet under 3.. can get at GM too as long as they give you buy rate w/out markup.. just depends on dealer really - with less new inventory volume some dealers feel if you don’t buy next guy will, while others still willing to make you happy for the sale.

[JDaniels609]

Originally Posted by Nxpress

Term will affect rate too.. in todays market 60 months with 800+ credit 2.5% is doable .. 72+ terms chase, boa, credit unions are best bet under 3.. can get at GM too as long as they give you buy rate w/out markup.. just depends on dealer really - with less new inventory volume some dealers feel if you don’t buy next guy will, while others still willing to make you happy for the sale.

I was promised supplier pricing if I finance through them so I’m sure that’s got some bs rolled into it.. guess we’ll see how this goes this week. I’ll be doing a 72 month loan as well. If I can’t come to the number I’m looking for then they’ll just have a 10th Camaro out front not selling and I’ll lose my deposit. Hope it doesn't come to that though.

[Nxpress]

I hope it goes well for you this week! sorry if sounded negative - I’m in finance for one of the largest auto lenders in the US so I see it all! Mine is supposed to be in Tuesday or Wednesday this week as well!

[JDaniels609]

Originally Posted by Nxpress

I hope it goes well for you this week! sorry if sounded negative - I’m in finance for one of the largest auto lenders in the US so I see it all! Mine is supposed to be in Tuesday or Wednesday this week as well!

No no, I appreciate your honesty. I’m the kinda guy I’d much rather hear it how it is than some sugar coated bs. I really hope it goes well too, I appreciate your help!

[JDaniels609]

Originally Posted by Nxpress

I hope it goes well for you this week! sorry if sounded negative - I’m in finance for one of the largest auto lenders in the US so I see it all! Mine is supposed to be in Tuesday or Wednesday this week as well!

Also, congrats! Same days mine is looking like I hope.

[Aquarius]

Couple of things: first, talk to your bank and see what they would offer you. At the very least you can walk into purchasing a car knowing you have x.x% from your bank, which will let you negotiate with GM for a better rate hopefully, or at worst take the better of the 2 offers.

Second, ask to see the paperwork the dealership received from GM Finance to see what percentage rate you were offered. Dealerships are allowed to offer a higher percentage rate to you than was received form the financial institution. Ask to see the paperwork to make sure they are not screwing you over with a higher rate than the one offered (as Nxpress said), and if it is higher, or they balk at providing the paperwork, I would be very wary of doing any financing with them.

One more thing, GM does offer a few programs geared towards certain groups to provide discounts. They have a military discount, university student discount, first responder discount, educator discount and maybe others. Look and see what they offer and see if you qualify for any of them. Unfortunately, the only incentives offered for a Camaro in November are 2 similar-but-different lease programs.

[JDaniels609]

Originally Posted by Aquarius

Couple of things: first, talk to your bank and see what they would offer you. At the very least you can walk into purchasing a car knowing you have x.x% from your bank, which will let you negotiate with GM for a better rate hopefully, or at worst take the better of the 2 offers.

Second, ask to see the paperwork the dealership received from GM Finance to see what percentage rate you were offered. Dealerships are allowed to offer a higher percentage rate to you than was received form the financial institution. Ask to see the paperwork to make sure they are not screwing you over with a higher rate than the one offered (as Nxpress said), and if it is higher, or they balk at providing the paperwork, I would be very wary of doing any financing with them.

One more thing, GM does offer a few programs geared towards certain groups to provide discounts. They have a military discount, university student discount, first responder discount, educator discount and maybe others. Look and see what they offer and see if you qualify for any of them. Unfortunately, the only incentives offered for a Camaro in November are 2 similar-but-different lease programs.

Thank you. I’ll see what the bank has to offer before I go in. Really hope I can come to a number I like after waiting so long for this car. Starting to worry a little.

[s2mikey]

Only things I saw recently are leases. And, you have to be a current lessee to qualify. Just fight for a good rate. Top tier credit deserves the best rates!

[tommcd24]

In addition to your local bank, it may be worthwhile to take a look at LendingTree.com or BankRate.com and see what kind of rates are available via that avenue.

[Schlok]

Originally Posted by Nxpress

Term will affect rate too.. in todays market 60 months with 800+ credit 2.5% is doable .. 72+ terms chase, boa, credit unions are best bet under 3.. can get at GM too as long as they give you buy rate w/out markup.. just depends on dealer really - with less new inventory volume some dealers feel if you don’t buy next guy will, while others still willing to make you happy for the sale.

Went with GM Financial and my 72 month was 2.9%, for the record.

[taprxxt]

Originally Posted by JDaniels609

I was promised supplier pricing if I finance through them so I’m sure that’s got some bs rolled into it.. guess we’ll see how this goes this week. I’ll be doing a 72 month loan as well. If I can’t come to the number I’m looking for then they’ll just have a 10th Camaro out front not selling and I’ll lose my deposit. Hope it doesn't come to that though.

If your credit is good there is no reason you can't be in the 2s for 72 months with GM financial. Pretty sure they also have a deferred payment option where you can push first payment out 90 days (started as a COVID thing but nice little incentive for the people who are taking delivery in Nov and can't drive the car until Spring). Doubt there will be additional incentives until these cars are sitting for a while. As long as you agreed on a price at order and, especially if you have it in writing, you should be at that price. Let them know ahead of time what rate you can get somewhere else (ex. Alliant credit union has 2.24% for 72). They will likely want to do the deal in-house and come pretty damn close to that. Mine did.