Financing interest rates

[Armycop]

My car loans are through credit unions. My rate for 72 months is 2.49%. I doubt they will be offering any buyer incentives for a while on the JL.

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[matchews]

My car loans are through credit unions. My rate for 72 months is 2.49%. I doubt they will be offering any buyer incentives for a while on the JL.

I received a $500 bonus cash incentive from FCA a few weeks ago. It is good on the JL, but expires at the end of February. I should have my JL by then. There’s a place on Jeep’s website to enter your address for updates on the JL. I think that is what triggered it. Also signed up for the bonus drive offer and got accepted pending sending them a paid invoice.

 

[1quick1]

2.49% seem to be about the best I can find on 810 credit score.

We are not going to get a a Chyrsler 0% on this new JL, unfortunately. You're probably better off at a private bank.

 

[jlroman2]

Assuming most people are financing, what's everyone's initial plan out there? Although I am not stranger to financing vehicles this my first brand new vehicle purchase. My plan was to have my bank (Langley Federal Credit Union as posted previously) as plan B, but let the dealer try to find the best deal since they have such a large network of banks in the system. Manufacturer financing from what I have seen is out the question (Chrysler finance) since they are high on the apr. I have 5k I want to put down, will do 7k if it makes sense....I'm trying to land a payment under $600. My invoice total with destination is $44,212 (I will use TL so another 1% off that but I'm not trying to dive into all the math here). After my down of 5k that's $39,212 but you have to add tax/tag/title and dealer fees ($499). So I think I can safely be at or under $600 if I go [email protected]% or better (I'm not factoring my trade since that's uncertain, I know I can break even but not sure how much better I can go than that).

Lmk how that goes. I am trying to purchase a Sahara or Rubicon. I will be trading in my Cherokee 2015 but will not be gaining any money since I will most likely be braking even. I am also trying to pay less than $600/ month for 72 months or so. Hopefully this can be done with my credit score (720). I will be putting a $5-7k down payment if reasonable. I got a 3.9% APR with Chrysler capital for my cherokee but was hoping to land a lower one, although it looks like it might be hard.

 

[BostonBilly]

Does anyone have the link to the page about 500 back if you are a member of a group or financial group? I can' seem to find it

 

[BostonBilly]

Found it https://www.jlwranglerforums.com/forum/threads/bonusdrive-500-cash-back-offer.2546/

 

[James888]

Dealer sent me link of Chrysler Capital and let me fill out the application. And I got the pre-approve for $59,000. What does this mean ?
This is my first time to finance and I do not know what the process to purchase.
Please share your experience.
Thanks

 

[Flyguy81]

Dealer sent me link of Chrysler Capital and let me fill out the application. And I got the pre-approve for $59,000. What does this mean ?
This is my first time to finance and I do not know what the process to purchase.
Please share your experience.
Thanks

Means you can borrow $59k should you choose to do so. Figure out how much you want to finance and once you get the final numbers get a check or have the bank send the dealer a check for the remainder.

 

[James888]

OK, Thanks for your prompt reply. Is Chrysler Capital good for loan ? Or I need to check other bank ? Thanks

 

[misanthrope]

OK, Thanks for your prompt reply. Is Chrysler Capital good for loan ? Or I need to check other bank ? Thanks

DEFINITELY shop for credit, especially since you've already made a Credit Report Inquiry (through Chrysler). Multiple inquiries to different financial institutions made around the same time (i.e. when shopping for the same single purchase) will not affect your credit any more than a single one, or will only affect it slightly, so you have nothing to lose. The amount you are approved for ($59,000) is substantial, so your credit is most likely solid. It is the RATE you should be asking about. Chrysler Financial shows 3.26% in their payment configurator, which is for a 60 month deal, meaning that a 72 month contract is north of 3.5%. Look for something in the low 2% range, which is average for those with good-excellent credit, and is usually found through credit unions (many of which you can apply for online, as is the case with many banks). A $40,000 loan at 2% will cost you $2481 in interest over 72 months with a payment of $590, but at 3.5% interest, the same loan will have a payment of $617 and will cost over $4400 in interest, a difference of nearly $2000! That's money you should be pumping into mods, not banks!

 

[Sierra Nevada]

SE Florida: I was given the following rates from Financial Federal Credit Union (305.577.1328) using a credit rating of 831:

36mos,1.7%, 100% Financed
60mos, 2.25%, 89% Financed (requires you put 11% down payment on jeep)
72mos, 2.49, ??? (did not ask)

 

[Sschmittou]

Shore2shore credit union just approved me.

72 months
1.99%

$52,610 - $13000 down payment $583
$52,610 $0 down $775

Going to put the $13000 down

Dealer offer lease I rejected, but here is the info.

FFP $49,377 money factor 0.00165 (3.96%) 70% residual. US BANK

36 months, 10k miles, $700 down
$565 monthly
39 months, 10k miles, $700 down
$545

Buyout $36,130 (36) $35,6xx (39)

 

[James888]

My dealer could not disclose the APR until I come in physically. But this dealer is 2 hours drive way from me .
I want to pick up tomorrow but I am afraid that dealer's APR is higher than my desire. I do not know how I am able to pick up definitely. Do not want to come back with nothing...

 

[JLWF Dealer Guy]

My dealer could not disclose the APR until I come in physically. But this dealer is 2 hours drive way from me .
I want to pick up tomorrow but I am afraid that dealer's APR is higher than my desire. I do not know how I am able to pick up definitely. Do not want to come back with nothing...

Have you done any looking into your own options? That seems real shady to me for a person driving 2 hours.

 

[James888]

I do not get my own option since this is my first time to buy new car.The dealer sent me link of chysler capital to fill out and I did.
Do you mean dealer could disclose the APR before I come in ?

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