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Medsport Medsport (New Member) New Member

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Hello, LPN here for 10 years. I just got a new better paying job and still have my previous PRN job. I've been thinking of upgrading my ride and noticed that the interest rates have gone up. I've been approved by Chrysler, but their rates are about 4.9%. I found some good discounts for the challenger, but I currently have 0% on my mustang. I've done some searching for credit unions, but the best I've found in which I qualify for is 3.99%. Do any of you know of any credit unions for nurses or any other place that offers good rates?

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Why do you want to "upgrade" your ride? How old is your mustang? How many miles? Is it unsafe?

Not to be harsh, but you will never get ahead if you keep inflating your lifestyle with wage increases. Instead, pay your mustang off (I mean, who can beat 0% interest?) and ride that bad boy until it rides no more. Meanwhile, save cash for your next ride. I wouldn't recommend Chrysler because their quality is terrible, imo. Instead, stick with a brand like Honda or Toyota that is known for reliability and very good gas mileage. Think "econo-cars."

I know this isn't the advice you wanted to hear, but it is the advice you needed.

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TO throw salt on the wound, I pay cash. I buy a used "econo" car (1-2 years old, low mileage). And, I do it about once every ten years. Cars are depreciating assets. I cringe every time I have to get a new (to me) one.

When I get a raise, I up my contribution to my 401k.

Yeah, I'm boring but I'm hoping that I won't be eating cat food when I'm retired.

But back to your question, try your union. Or just plain old google.

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You could try waiting a few more months to see if the manufacturer offers interest rate deals to clear out end of model year inventory. They often offer lower interest rates, more off MSRP, and/or cash back incentives to move "old" inventory to make room for the new model year vehicles. Congrats on the new job!

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TO throw salt on the wound, I pay cash. I buy a used "econo" car (1-2 years old, low mileage). And, I do it about once every ten years. Cars are depreciating assets. I cringe every time I have to get a new (to me) one.

When I get a raise, I up my contribution to my 401k.

Yeah, I'm boring but I'm hoping that I won't be eating cat food when I'm retired.

But back to your question, try your union. Or just plain old google.

Cat food hahaha! That was cute....

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Yeah vanilla bean, I've been waiting for like 3 or 4 months already. Ford sometimes offers 0% around this time of year and that's when I jumped on the mustang 2 years ago after looking all summer. But Dodge and it seems a lot of manufacturers are increasing interest rates at the moment. They already started production on the 19's with factory discounts of around 3.5k on the 18 challenger, but a lot of people have been getting them for about 6-7k off. I was cross shopping them 2 years ago and what started me looking at them again was ads for 10-12k off. But after reading the fine print, that was just for somebody that qualified for all their discounts in which nobody ever does. Although I have heard of people getting awesome deals of around 10k off, but you have to be at the right place at the right time.

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Roughly 2/3 of all Americans have between $0-$1000 in savings. We are consumed with the need to have new cars every couple of years.

Why?

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You're thinking about a car the wrong way. It's a rapidly depreciating thing that give you transportation. It's not an asset. You will see the poorest people thinking that a new car is the height of wealth when it is the exact opposite.

Instead, think of putting the money for that car in an account and calculate how much you'd have in ten years at 6% interest.

+1 for buying a good used car with cash. But if there is no way anyone can dissuade you, loan rates are better from a credit union.

Question: do you still have school loans?

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