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Has anyone seen an Bank Auto Loan under 3% lately?

Sazabi19

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So today those rates are (USAA)

60 - 3.69
72 - 3.99
84 - 5.19
Ouch, they were @ 3.29 at the end of July for 72mo. I've been a member over 25 yrs so got a .25% discount, so I'm sitting at 3.04%. USAA wouldn't do the extra 1/4% off.
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ajn507

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Point Breeze Credit Union has 2.24% for 60 months. They can be diffulcult to qualify for membership.

Tower Federal CU usually has good rates also.
 

jeme

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Thanks appreciate the insight.

I am in Florida if anyone had an recommendations for here. Thanks!
 

JSFoster75

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Seems like most loans from commercial banks and even some CU's are starting at 3% for anything over 48 months. Please share if you have had better luck. Thank you.
Last year I got 84 months for 2.79%, but the same credit union now is 3.49% for 84 months...
 

Jeepalady17

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I looked everywhere and finally found a credit union that gave me 1.99% for 36 months. Credit score is 800+
I feel your pain.. While waiting for my Jeep and figure out what I will finally finance, my credit union went from 3.9 to 5.9% on 48 months and my credit score is 812... Go figure.. My only hope is that I will have saved more by the time I have to finance and that my trade value holds so that I won't have to pawn my dog to get more money (just kidding! )
 

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Jean Genie

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So today those rates are (USAA)

60 - 3.69
72 - 3.99
84 - 5.19
Contacted Trust again today to check rates. They've increased to:
48 - 3.96
60 - 4.15
72 - 4.50
84 - 4.97
Also checked PenFed. Their rates were so high (between 5.24% & 7.04). I won't even consider them.
 

jeme

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Thanks so much, Yes I looked at PenFed and they were very high. Wondering what the dealer might have, you know that game….

Trying to interface as little as possible, hard to get the hard numbers from them, I also have a decent score in the 800’s.
 

jeme

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Contacted Trust again today to check rates. They've increased to:
48 - 3.96
60 - 4.15
72 - 4.50
84 - 4.97
Also checked PenFed. Their rates were so high (between 5.24% & 7.04). I won't even consider them.
Thank you!
 

Jean Genie

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Last year I got 84 months for 2.79%, but the same credit union now is 3.49% for 84 months...
Could you share what credit union is offering these rates? They're much better than my credit union.
 

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Deleted member 59498

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I was just on NFCU 36mon 60mons 72mons etc.


New Vehicle3.29%3.49%3.79%5.69%6.59%
 

Tncdrew

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An 84 month car loan...
WOW, I don't even wanna think about how much interest you'll be paying on that loan!
 

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An 84 month car loan...
WOW, I don't even wanna think about how much interest you'll be paying on that loan!
I've only ever done an 84 month loan. But I've also never taken more than 48 months to pay off a vehicle...

My goal is always to get the lowest monthly premium I can get, while making sure to overpay every month. But there are random months that I may want the extra cash for something else, so I only pay the minimum required that month. System has worked well for me, and I basically just don't worry about interest rates at that point.
 

Jeepn’

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I've only ever done an 84 month loan. But I've also never taken more than 48 months to pay off a vehicle...

My goal is always to get the lowest monthly premium I can get, while making sure to overpay every month. But there are random months that I may want the extra cash for something else, so I only pay the minimum required that month. System has worked well for me, and I basically just don't worry about interest rates at that point.
I’ve thought of doing this in the past since it keeps your monthly low in a situation where you might need some more cash that month. Just need to be very disciplined and make sure you pay more every month.

But there’s also a difference in the type of loan, right? fixed vs variable APR.
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