Anyone apply for an auto loan lately?

[midnightrat]

Anyone have any opinions on either site? I'd rather secure my loan amount prior to going into the dealer. Or would getting the car dealer financed be a better option.

 

[NTB]

Originally posted by: midnightrat
Anyone have any opinions on either site? I'd rather secure my loan amount prior to going into the dealer. Or would getting the car dealer financed be a better option.

Got one last year, but it was only through a local bank, and only for a used vehicle. I hope somebody answers though - I'd like to know this, too.

Nate

 

[weiv0004]

Hey, I'm actually in the process of getting an auto loan from Capital One. With a 3 year loan for a used car, my APR is 7.29% I used lendingtree, but was in a real hurry, so I only gave it a few days. Capital One was the first lender that responded and they offered me a decent rate, so I snapped it up. I believe it is always a better idea to go to the dealership with money in hand. A dealer is much more likely to accept your offer when they can see the profit in front of them. But I'm not really experienced in car buying (buying my first this weekend!) so I might have to defer to someone else.

 

[makaze]

I went through my credit union a few weeks ago and got a 4.75% @ 72 months

The dealer (toyota) offerred 6.50 for 60 months or 7.3 @ 72 months.

The same dealer showed me what Bank of America would offer me for 60 months and it was 8.9, I went to BoA and applied myself and got offered 5.9 for the same..

I ended up going with the credit union, and I would never go through dealer financing again..

 

[Rumpltzer]

I went into the Honda dealership with a Capital One loan for 60 months at 3.25%. In return, I was offered Honda Financing for 60 months at 3.0%... and I took it.

There's lots of talk on the Edmunds forums about the online loan site if you're interested in more extensive reading.

 

[huberm]

I used Eloan for an auto refi. I applied and within 15 minutes they called me back and told me I was approved, we did the transfer right over the phone. Next day some papers showed up for me to sign.

 

[DrPizza]

My horror story is archived somewhere here... I used lendingtree. Ultimately, I lost the house of my dreams and the dreams of half the people here because of the lender I was referred to.

Lending Tree: populated with lenders desperate for business and new to the market

Go with a local bank, you won't be sorry.

 

[Glavinsolo]

Credit Union>*

 

[midnightrat]

Thanks for all the feedback. I guess I'll check out what people have to say on edmunds about loans.

 

[torpid]

I logged in to one of those sites, I think lending tree. I got a horrible rate from them, way worse than any local bank, and then began receiving countless spam emails from all the affiliated sites they sold my info to. Really annoying. Fortunately I use sneakemail and just deactivated the link.

 

[fbrdphreak]

Originally posted by: Glavinsolo
Credit Union>*

QFT

 

[Amplifier]

straight cash