Chrysler Interest Rates

[psw757]

I don’t think hot selling has anything to do with it. Ford sells more f-150’s than any other vehicle in America every year, to the tune of 900,000 in 2017. Ford almost always has 0% running for either 60/72.

Simply put it makes vehicles sell.

The wrangler isn’t even in the top 20 of most vehicles sold in the last 5 years. It’s a niche vehicle. Without a doubt, if Chrysler offered 0 or even 0.9 sales would spike.

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[cdrober]

If anyone is eligible I would recommend Navy Federal, I applied today and got 2.99 for 72, higher than my current loan which is at 2.0, but interest rates have gone up in the past 4 years. Works out well as they gave me a check without any dealer or VIN filled in, so I have the flexibility to adjust the amount / dealership on the fly and then very easy to initiate the loan quickly.

*Speaking of which looks like I may be changing my avatar to a red JLUR soon.

 

[Jdegid]

Anyone getting below 2.99 for 72 months from Chrysler or credit unions that are open to public(new members)? Credit in 800’s.

We got 2.79 % been with our credit union 20 Years Arrowhead CU
Dealer offered us 2.99%
Credit score 824

 

[VictorChampion]

Dealers will try and make money every step of the way while you are on the lot and the finance department is no different. IF you let dealer finance pull your credit (Which I personally never do), there are two sides to the rate offering. The "Buy" and the "Sell" rate. The buy rate is what the lender is offering as approval to the dealer for your paper. The "Sell" rate is whatever the dealer can get from you over the buy rate. Say CU or whomever approves you at 3.5% and the dealer tells you he worked his lender over and got you 4.5%, What a great guy!. The dealer gets a kickback of that 1% or the difference from 3.5% to 4.5% ($400 on $40,000 financed) plus possibly a flat fee from lender in addition to the spread for placing the loan with them. Many indirect lending agreements limit sell markup rate to 3%. Thus, if approved at 4%, the dealer can't contract for more than 7% effective APR if they convince you 7% is the best rate you qualify for. Want to see a Finance Manager turn white and go near speechless: When he/she offers you the rate ask him/her "Is that the buy rate or the sell rate"? We as consumers aren't supposed to know that term! Maybe a little off topic but felt compelled to share. It's one big shell game.

 

[digitalbliss]

If anyone is eligible I would recommend Navy Federal, I applied today and got 2.99 for 72, higher than my current loan which is at 2.0, but interest rates have gone up in the past 4 years. Works out well as they gave me a check without any dealer or VIN filled in, so I have the flexibility to adjust the amount / dealership on the fly and then very easy to initiate the loan quickly.

*Speaking of which looks like I may be changing my avatar to a red JLUR soon.

Ditto, I also got 2.99 for 72 with Navy FCU.

 

[psw757]

If anyone is eligible I would recommend Navy Federal, I applied today and got 2.99 for 72, higher than my current loan which is at 2.0, but interest rates have gone up in the past 4 years. Works out well as they gave me a check without any dealer or VIN filled in, so I have the flexibility to adjust the amount / dealership on the fly and then very easy to initiate the loan quickly.

*Speaking of which looks like I may be changing my avatar to a red JLUR soon.

What are the requirements to join and how long did it take to get approval for financing?

 

[vintage38]

I'm a member of Allegacy FCU. They're offering 2.29% on auto-draft and 2.79% on non auto-draft. As soon as I mentioned Allegacy to my dealer he said they couldn't touch their rates. I'll be visiting them for my new Jeep loan.

 

[Mid-life Wrangler]

Anyone getting below 2.99 for 72 months from Chrysler or credit unions that are open to public(new members)? Credit in 800’s.

Took my pre-approval from a credit union for 2.99% for 72 months in to the dealership when I picked up my Rubi and let the dealership see if they could beat it. Bank of America offered 2.89%, so I went with that. I was happy because with a credit score of 814, I could not find a lower rate than the 2.99% and the dealership surely got a little kickback from the bank without ripping me off.

 

[Mid-life Wrangler]

I'm a member of Allegacy FCU. They're offering 2.29% on auto-draft and 2.79% on non auto-draft. As soon as I mentioned Allegacy to my dealer he said they couldn't touch their rates. I'll be visiting them for my new Jeep loan.

And that’s on a 72 month loan? That’s a great rate!

 

[Mid-life Wrangler]

I wonder how much the dealer finance guys will work with the sales staff to help make a sale.
Just thinking...

I'd certainly consider upgrading my order and buy a Rubicon at 0% financing, over a Sport at a 4% loan rate. From a monthly payment standpoint, the difference isn't great.

Considering how many loans the dealership gets for the bank, The finance guys must be able to call in a favor and get a lower rate for a High Credit Score customer, no?

I posted an answer already. Get pre-approval for the best rate you can find. Take that to the dealer and tell them if they can beat it, then you will go with their financing. They will get better rates in most cases because of their relationships with lenders.

 

[digitalbliss]

What are the requirements to join and how long did it take to get approval for financing?

Being a US sevice member or family member of one. Or being a DoD civilian employee.

https://www.navyfederal.org/membership/become-a-member.php#become-a-member3

Financing took all of about 5 or 10 minutes for me. I filled out an online application, and they immediately approved me.

 

[Mid-life Wrangler]

My thought was, the dealership doesn't make money from the loan, the bank does (assuming the loan is with a bank the dealership works with, and not Chrysler). The dealership would actually make more profit because the profit margin is larger on the Rubicon.

The dealership gets kickbacks for securing the loan. The higher rate they get you to go with the more kickbacks. That is one reason it is a bad idea to tell them what you want your payments to be. Instead of securing the best possible rate some dealers may secure the highest rate that still puts your payment where you want it. That’s why I suggest you get pre-approval before going in, so you know if you are getting a good rate.

 

[Mid-life Wrangler]

Ditto, I also got 2.99 for 72 with Navy FCU.

That is what I went to dealer with and the dealer beat it.

 

[Mid-life Wrangler]

Sorry for all the back to back replies. I learned a lot during this buying experience and on this forum and just wanted to try to help others. I hope I’m not coming off as a know-it-all, because I know I don’t, but this was a huge purchase to me and I feel as if I am happier with my Rubicon because I didn’t get ripped off. Good luck all.

 

[Mfdidier]

I got 2.49 for 60 mos, and 2.99 for 72 from my cu. went with 2.99

Seems about par with what people are posting here so I feel good about it.

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