How long will it take yesterday's Federal Reserve interest rate cut to affect auto loan rate (if at all)?

[Boogak]

Just paid off my A4 and been wanting to trade it in for a 350Z. Been looking at eloan.com for a week and their new auto loan rate dropped from 3.99% to 3.79% early last week before the announced cut. Curious to see if it'll go lower now after yesterdays news...

 

[FoBoT]

i am not sure it will really affect auto loans, it was only a quarter point cut? right?

rates are already in the mud, home loans should move down just a tad, eventually

 

[supernova87a]

I have heard that the rates are getting to the point where further cuts by the Fed may not trickle down
rapidly to consumer level loans, because there is a baseline cost of companies to make the loan. So I
wouldn't hold my breath, basically.

 

[flamingelephant]

hmmm... my car loan is 0 %, so maybe if i wait they will pay me to take a loan to get a car!

 

[Chadder007]

Originally posted by: flamingelephant
hmmm... my car loan is 0 %, so maybe if i wait they will pay me to take a loan to get a car!

That would be the 0% interest and 3000 cash back.