Financing a car with a bank. Impossible to get lower than car maker financing?

[fuzzybabybunny]

Nice! My buddy got one and loves it! It's basically the Honda Civic equivalent for Subaru - not overly huge, but lots of great features like AWD, storage space, Subaru reliability, etc. Great choice!

That's why I'm getting it. The Outback is a long car and I don't like the maneuverability of long cars. I can't really sleep in the back of a Forester. The CrossTrek is probably the closest that I can get to my current Honda Fit.

I love the great gas mileage and the AWD is obviously very capable. Obviously not as spacious as the Honda Fit and the interior is drab as hell but I should be able to barely eak by if I sleep in it.

The only thing that I can't stand about it is that there is no 6-speed manual. PLEASE correct me if I'm wrong. I would still prefer the 6-speed manual over the CVT. I'll get a little worse gas mileage but the unexplainable feeling of excitement when I pop the car into gear at the start of a road trip is worth it all.

 

[fuzzybabybunny]

Rates jumped. Realistically it's not a lot of money difference. If your looking at 2.49% through penfed though it means your looking at the 61-72 months and it was never .74% for that one.

I'd try penfeds car buying service I believe its 1.49% right now for loans through that.

Oh, I wasn't aware that penfed had a separate car buying service. If I buy the car through their website at their established prices I can get the 1.49% financing? So basically no negotiating, right?

 

[Naeeldar]

Oh, I wasn't aware that penfed had a separate car buying service. If I buy the car through their website at their established prices I can get the 1.49% financing? So basically no negotiating, right?

Yep. I didn't use it because I had already negotiated and I was new to penfed on my 13 Audi S4 but it's supposed to be very competitive and you don't have to negotiate. Penfed is tough to beat.

 

[Midwayman]

Depends if its dealer of manufacturer financing. Lots of times with manufacturer financing you either get a rebate or the financing. Even if that's not explicitly offered, you can get a lower price without the financing. Best to compare sale price + financing in those circumstances.

 

[Zargon]

Generally the best rates are at credit unions, and they can go very low (sub 4%). Keep in mind the 'deals' you see for 1% or .9% are often at very short terms (<24 months) and a CU can often offer a rate slightly higher, but at a longer duration.

It's really up to what you want/need.

BTW - Queue the obligatory 'if you can't pay cash you can't afford it' comments next...

more like 48 months.

GM its usually 60, which seems like a long time, but when you are borrowing 30K payments aint small 😛

 

[Pantoot]

Oh, I wasn't aware that penfed had a separate car buying service. If I buy the car through their website at their established prices I can get the 1.49% financing? So basically no negotiating, right?

Depending on your dealer you might still have to do some negotiating, since they might try to add on additional stuff like window tint or mudflaps.

 

[child of wonder]

Got 1.74% for 60 months through Pentagon Federal Credit Union a little over a month ago right before rates went up. They're 2.24% right now.

 

[fuzzybabybunny]

I guess I'm not eligible to join PenFed?

I have never been employed by the government.

EDIT: nevermind, I just paid $15 to Voices of Troops and was able to join.

 

[Kaido]

That's why I'm getting it. The Outback is a long car and I don't like the maneuverability of long cars. I can't really sleep in the back of a Forester. The CrossTrek is probably the closest that I can get to my current Honda Fit.

I love the great gas mileage and the AWD is obviously very capable. Obviously not as spacious as the Honda Fit and the interior is drab as hell but I should be able to barely eak by if I sleep in it.

The only thing that I can't stand about it is that there is no 6-speed manual. PLEASE correct me if I'm wrong. I would still prefer the 6-speed manual over the CVT. I'll get a little worse gas mileage but the unexplainable feeling of excitement when I pop the car into gear at the start of a road trip is worth it all.

There is no 6-speed manual, BUT - there *is* a 5-speed manual. It's available on the Premium (not the Limited). I'd recommend throwing on some Wet Okele or Cover King neoprene waterproof seat covers & Weathertech all-weather rubberized floor & cargo mats to keep it mint.

Yeah, again we really like our Civic but my wife is looking at a Forester & a Fit. Really she wants another Fit because it was such a handy little car - roomy, park anywhere, etc.

 

[Zargon]

Nice! My buddy got one and loves it! It's basically the Honda Civic equivalent for Subaru - not overly huge, but lots of great features like AWD, storage space, Subaru reliability, etc. Great choice!

FWIW its just an imprezza with lift and body panels

 

[fuzzybabybunny]

FWIW its just an imprezza with lift and body panels

Basically it makes the Impreza more useful and off road worthy. Stiffer construction too.

 

[fuzzybabybunny]

There is no 6-speed manual, BUT - there *is* a 5-speed manual. It's available on the Premium (not the Limited). I'd recommend throwing on some Wet Okele or Cover King neoprene waterproof seat covers & Weathertech all-weather rubberized floor & cargo mats to keep it mint.

Yeah, again we really like our Civic but my wife is looking at a Forester & a Fit. Really she wants another Fit because it was such a handy little car - roomy, park anywhere, etc.

The 5 speed manual by all accounts sucks. Sluggish and the final drive is such that it will never get the same gas mileage cruising on the highway as the CVT, which is a huge bummer. A lot of my driving is traveling and highways.