JL Financing

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for those who financed there JL what bank you went with and what did they hit you with rate? Asking for when mine comes in.
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OldGuyNewJeep

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for those who financed there JL what bank you went with and what did they hit you with rate? Asking for when mine comes in.
If you’re a AAA member go through them. They will get you rates you won’t be able to get on your own. They got me 1.99% for 60 months through a credit union. (In June 2018 - not likely you’re going to find that now.)

If you’re not a member you’ll have to become one.

I should make clear I am in no way affiliated with AAA and have nothing to gain by recommending them. This is third time they found me a better rate than my bank, credit union, dealer, or internet.
 
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Deleted member 29342

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If you’re a AAA member go through them. They will get you rates you won’t be able to get on your own. They got me 1.99% for 60 months through a credit union. (In June 2018 - not likely you’re going to find that now.)

If you’re not a member you’ll have to become one.

I should make clear I am in no way affiliated with AAA and have nothing to gain by recommending them. This is third time they found me a better rate than my bank, credit union, dealer, or internet.

I’ll have to look into it. Thank you.
 

SecondTJ

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Pentagon Federal Credit Union (PenFed) usually has very competitive rates
 

Kevin Mojito

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I wish I could have used AAA. They do not have it for Washington State..... Don't know why.
Used PenFed @ 2.49%
 

EZMFE

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for those who financed there JL what bank you went with and what did they hit you with rate? Asking for when mine comes in.
My suggestion is to go to three different credit unions (online/B&M) and get a quote from each on the final value of the loan. Don't do this until you are within within 30 days of picking up the Jeep so the quotes/loan offers don't expire and all of the credit pulls count as one.

Getting these bids will show you the lowest rate you qualify for and it also gives you a chance to interact with the loan institution to see what kind of service to expect in the future. So maybe CU #2 has a slightly higher interest rate but they provided the best service, branch in a good location (if that is a concern), or other perks like a credit card and/or LOC in addition to the auto loan. All on that one credit pull.

Don't forget to write down the process that you will need to take to actually get your loan check and finalize the deal. Have them walk you through a mocked scenario where you have agreed to the purchase and you want it that moment. This again, will give you an idea of what hurdles, if any, you will need to take.

So now that you have the loan setup and are getting ready to go pickup your Jeep, the dealer is going to want an opportunity to make some money on the financing. The problem you run into is that you are at what could be a very low interest rate because you have already received "bids" for your loan. If they can beat it, which they very well may be able to, you have just saved yourself that much more.

Now you get to decide whether you want to deal with the CU or whomever they are setting you up with. It could be that they finance it directly through the mfg but at least you are aware of what interest rate the dealer says you qualify for and what you truly qualify for. The mfg deals can save you quite a bit of cash and sometimes even allow you to order an additional feature due to the money that is saved on the interest when at low 0% or.9% rates. In a sense it offsets the loan payment/value vs interest to where you get a little more car but for the same price/payment in the end.

If the dealer wants to make a percentage point or two, you will be able to decide if you want to allow that or not. If you qualify for 3.5% and they say 5.5%, rest assured they are making money off of arranging the financing with that institution. How much % is negotiable but they are making something.
 

EZMFE

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One more item that one should do when getting ready to finance a vehicle is to go get your true FICO scores and report from myfico.com.

They offer a tri-pull (3 agency) that will allow you to see more than just one credit score but multiple versions of scores that are used for mortgage, auto, etc. These are the scores that the creditors are going to use to give you the loan. Not the FAKO score that you get at other sites.

If you don't do that than at least go to each one of your current financial accounts and see if they offer to show you your true FICO credit score. Most of the time this is a free service and they update it once a weekly, monthly, or quarterly depending on the contract they have. It's usually only one agency so if multiple accounts have it you may be able to get all three. Either way though, this free score will most likely not be the Auto 8 score or whatever the auto loan industry is using today but it will give you pretty accurate idea of where you will be.

Pulling the scores directly from myfico will allow you to see all of those different credit score types and it'll be spot on accurate.

Many credit scores that are offered out there are not true FICO scores and so the consumer gets this false sense of what they will qualify for and are surprised when they are offered a higher rate than what they thought they would of. If you are getting ready to make a big purchase it is nice to know exactly where you are at and this is one other way to get a good handle on your future auto deal. There are also discount codes floating around for the myfico site.
 

mike.g

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The dealer gave me a quote and included the following. Most are self explanatory, but the weight fee and other seem to be off. anyone has any idea what those could be?

Documentation Fee
Weight Fee +80
Title Fee
Tag/Registration Fees (estimate)
Other + $360.00

Thank you.
 

Notorious

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...but the weight fee and other seem to be off. anyone have any idea what those could be?...
Your best bet is to ask the dealership finance office to explain what these are. No one here can tell you because they don’t know.
 

cosine

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4.99% for 36 months. no penalties in paying it off early.
 
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