Financing interest rates

[Sierra Nevada]

It's always an "honest" mistake once they get caught!

Also, regarding that $450 Registration/Title fee. Do you get a credit towards your NY registration and title?

Title and registration fee is determined by the state where you live. They cannot monkey around with this ... however, it's cheaper to transfer plates from another car you own to your JL rather than buy new plates. In FL, it's $285 for new plates, title and registration. To transfer plates, title and registration in FL it's only $85.

Regardless, the dealership will give you temporary plates good for 30 days. Arkansas dealers are not required by law to charge sales tax nor title and registration because the sales taxes they collect will not be sent to FL. FL understands this so I have roughly 30 days to pay sales taxes and do title, plates and registration.

Sponsored

 

[simpleJL]

I called Langley in VA and they said 1.8% is possible with 60mos auto loan. I'll pull the trigger with Langley next week. JL is in JB status with an ETA (dealership delivery) of 3/10 to 3/14.

They have 2% as their absolute best right now.

How'd you come up with 1.8%?

 

[Sierra Nevada]

They have 2% as their absolute best right now.

How'd you come up with 1.8%?

That's what the woman from Langley told me last week. I was surprised, too ... so I asked her again and she gave me the same answer. I'll let the thread know what the final number ended up being and what whoops I had to jump through. I'm going to do the same process that pickles31 did ... estab chk'g and saving's account, then apply for loan.

I've talked to 6+ credit unions. They vary the rate by month duration (60, 72, ect) ... also the rate varies by whether you have a mortgage from them, having a credit card through them, having a chk'g and savings account with them, auto pay the car loan via their chk'g account and putting down 20% (through the dealer).

 

[simpleJL]

That's what the woman from Langley told me last week. I was surprised, too ... so I asked her again and she gave me the same answer. I'll let the thread know what the final number ended up being and what whoops I had to jump through. I'm going to do the same process that pickles31 did ... estab chk'g and saving's account, then apply for loan.

I've talked to 6+ credit unions. They vary the rate by month duration (60, 72, ect) ... also the rate varies by whether you have a mortgage from them, having a credit card through them, having a chk'g and savings account with them, auto pay the car loan via their chk'g account and putting down 20% (through the dealer).

I am already approved at Langley for the 2% at 60.

 

[JEEPJL]

Im diving deep with an 84 mo. @ 3.75% for the first year to keep my Monthly's down and then I will refinance with my Credit union

 

[BSw]

Im diving deep with an 84 mo. @ 3.75% for the first year to keep my Monthly's down and then I will refinance with my Credit union

Is that with Chrysler capital? doesn't seem to bad for 84mo

 

[JEEPJL]

Is that with Chrysler capital? doesn't seem to bad for 84mo

Not sure who is financing yet but I can do the 84. You can always refinance after the 1st year to a lower rate

 

[BSw]

Not sure who is financing yet but I can do the 84. You can always refinance after the 1st year to a lower rate

But it's the dealer that gave you the rate and not shopping around yourself

 

[JEEPJL]

But it's the dealer that gave you the rate and not shopping around yourself

Yes - But they will still search for best financing

 

[misanthrope]

Yes - But they will still search for best financing

No, they really won't. They'll search for the best rate for them. Whomever incentivizes the deal for them most will be the one they choose, most likely Chrysler Capital. No way they get near credit union rates, and you could. I realize you plan to refi, which you should, but don't think they'll shop the rate when they are requiring you to finance through them to get the deal. (which I'm assuming, or why wouldn't you go with the Credit Union right from the start? Most are around 3% for 84 mos.)

 

[JEEPJL]

No, they really won't. They'll search for the best rate for them. Whomever incentivizes the deal for them most will be the one they choose, most likely Chrysler Capital. No way they get near credit union rates, and you could. I realize you plan to refi, which you should, but don't think they'll shop the rate when they are requiring you to finance through them to get the deal. (which I'm assuming, or why wouldn't you go with the Credit Union right from the start? Most are around 3% for 84 mos.)

Understood , my Credit union wont do 84 so Im going with " probably Chrysler " for the 1st year

 

[misanthrope]

Understood , my Credit union wont do 84 so Im going with " probably Chrysler " for the 1st year

Figured that might be the issue. Did you think about shopping credit unions? I know many will go 84 on a new car (Teacher's Federal will go well beyond, with a $30k minimum)

 

[JEEPJL]

Figured that might be the issue. Did you think about shopping credit unions? I know many will go 84 on a new car (Teacher's Federal will go well beyond, with a $30k minimum)

Thought about shopping around but Im still a month + away from seeing anything like shipping date

Im good for now with 11k down + trade in .....just need low monthly's for awhile

 

[misanthrope]

Thought about shopping around but Im still a month + away from seeing anything like shipping date

Im good for now with 11k down + trade in .....just need low monthly's for awhile

Hear you. And to be honest, 1-1.5% difference for a year won't really be that big of a difference. If you keep it for the whole 84 mos, though, it could cost you over 2k.

 

[JEEPJL]

Hear you. And to be honest, 1-1.5% difference for a year won't really be that big of a difference. If you keep it for the whole 84 mos, though, it could cost you over 2k.

3 year max for brand new . If the changes on a 2018 are this big ...just think of the bugs worked out on a 2020 or 2021

Sponsored