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-   -   Best 72 Month % Rate? (http://www.wranglerforum.com/f274/best-72-month-rate-252638.html)

BIGLex 06-30-2013 12:24 AM

Best 72 Month % Rate?
 
Hello Everyone,

I've been on the forum for over a year and finally pulled the trigger.
10th Anniversary has been ordered since last month and should be coming in soon... So Im' starting to do my homework before I get the call that it's in and needs to be picked up (I'm starting to get inpatient more and more each day that I wait for that call).

I remember reading the 2013 thread in the beginning of this year and some members discussing best Credit Union or Online Banks offering the best rates.

I can't seem to find those post or any info while I search.

What's the best rate that you guys found?

Thanks in advance for any info that you guys will share...

Welding Rod 06-30-2013 12:33 AM

2.84. But the day I got home from buying my Jeep I found a letter In the mailbox from my credit union who financed my trade in vehicle offering me a 1.99 on a new car. I am not sure if that would be good at 72 months though. I couldn't bring myself to look too close since I had just already made a deal.

it_felt_so_good 06-30-2013 12:36 AM

I got me a 72 month/2.75% rate @ a local credit union. CU's usually are the best route. Do you need the 72 months or just want the lower payment?

It won't take me 72 months to pay it off (maybe 12 - 18 months) but with how unpredictable life is I just wanted the insurance of a low payment if I needed to put cash somewhere else.

wmwhitey 06-30-2013 12:41 AM

I had a 2.4% on a truck once from a CU like the others said go with a CU. If they wond give you one that low ask for the lowest % you can get in writing to the CU and ask if they can beat that so they can have your business.

dontlaughmeow 06-30-2013 12:41 AM

Alliant Credit Union. I just got approved for 1.49% for 72 months. They are a national cu and open to anyone if you donate $10 to their charity. I have an over 800 credit score but you should qualify for that rate if you are 720 or above. It's so low it's like free money.

StumpMT 06-30-2013 12:44 AM

I financed mine through the dealership with TD Auto Finance for 2.4%

n00g7 06-30-2013 01:07 AM

3 Attachment(s)
Counting down the seconds until your throat is filled with jumpers hating on long term loans.

n00g7 06-30-2013 01:10 AM

3 Attachment(s)
USAA (they're on the conservative side and these numbers are close for around 720+)
Loan Term $35,000 or More
72 Months 2.25%

WiredFive 06-30-2013 01:39 AM

3.6% 72 month term through Chrysler. Sounds like I should have checked out the credit unions though.. 780 score when I purchased last week.

it_felt_so_good 06-30-2013 02:27 AM

Quote:

Originally Posted by n00g7 (Post 3912955)
Counting down the seconds until your throat is filled with jumpers hating on long term loans.

Yep. Can't wait to hear the opinions from all the certified accountants, financial advisers, etc. from the world-class university of the Internet.

it_felt_so_good 06-30-2013 02:28 AM

Quote:

Originally Posted by WiredFive (Post 3912991)
3.6% 72 month term through Chrysler. Sounds like I should have checked out the credit unions though.. 780 score when I purchased last week.

Looks like you live in WA. You could have gotten a 2.35%/48 month with AlaskaUSA FCU. I qualified for that but opted for the 2.75%/72 month instead. Mine was 773 before I got approved.

n00g7 06-30-2013 02:42 AM

3 Attachment(s)
Quote:

Originally Posted by it_felt_so_good (Post 3913028)
Yep. Can't wait to hear the opinions from all the certified accountants, financial advisers, etc. from the world-class university of the Internet.

Yes, because it's waaaay better to dump 50k in cash on a depreciating asset rather than holding onto it to invest at the right time.

That time is coming soon too, my friend. Getting ready to sell my house and I'll start renting waiting for another crasssshhhhh, then invest all that skrill and watch it explode.

it_felt_so_good 06-30-2013 02:45 AM

Quote:

Originally Posted by n00g7 (Post 3913039)
Yes, because it's waaaay better to dump 50k in cash on a depreciating asset rather than holding onto it to invest at the right time.

That time is coming soon too, my friend. Getting ready to sell my house and I'll start renting waiting for another crasssshhhhh, then invest all that skrill and watch it explode.

I live in Alaska so I don't have to worry about any crashes. The last one hardly affected us, :).

n00g7 06-30-2013 02:48 AM

3 Attachment(s)
Quote:

Originally Posted by it_felt_so_good (Post 3913040)
I live in Alaska so I don't have to worry about any crashes. The last one hardly affected us, :).

Black gold will not die off in our lifetime.

2five22 06-30-2013 03:58 AM

Navy Federal C/U @ 1.49% for 60 months for both the wife's JKU and my JKR.

DC Dennis 06-30-2013 06:02 AM

Quote:

Originally Posted by n00g7 (Post 3912960)
USAA (they're on the conservative side and these numbers are close for around 720+)
Loan Term $35,000 or More
72 Months 2.25%

Get the car buying service certificate from them and you can get another .5 off, use direct deposit and get another .25, have a savings acount and there is more. I got a rate of 1.25 for 72 months with USAA on Friday. No one could beat them.

DC Dennis 06-30-2013 06:06 AM

Quote:

Originally Posted by WiredFive (Post 3912991)
3.6% 72 month term through Chrysler. Sounds like I should have checked out the credit unions though.. 780 score when I purchased last week.

If you have a score of 780, Refi that QUICK!

StarBrite 06-30-2013 06:35 AM

Check out PenFed.org, too. It's the Pentagon Federal CU. I think the rate we got back in November was 1.49. Had to pay $10 to join and open an account. Pay online option is free.

They approved the loan up to XX amount, sent a blank draft and we filled it out for the correct amount at the dealership at pickup.

Fast and easy! :thumb:

photostu 06-30-2013 07:10 AM

Just an FYI, the dealership has access to lower rates than you can get on your own. They will not offer these on the first set of numbers you see, you will have to either be creative or press them for a lower rate, but they can get them.

MATT0404 06-30-2013 08:03 AM

Penfed is down to 1.79%. I've used them in the past and have never had any issues with them. I may check out Alliant Credit Union at 1.49% when I start looking at financing my future Jeep. Talked some numbers with a Jeep dealership yesterday and they initially started somewhere around 5% for 60 months. It was pretty ridiculous how they handled paperwork and figures. Nowhere on the paperwork was trade in value or APR. Just monthly payments as if that's all that mattered.

Flyfisher76 06-30-2013 08:26 AM

I got mine for 2.1% for 72 months from a local bank. It really depends on your credit too but finding something under 3% should be relatively easy. I also went with the longer term as a back up in case i needed the extra cash elsewhere but plan on having it paid off in no more than 3 years tops.

I also didn't put a penny down on mine as my investments are getting more than my interest rate so i am technically earning a little interest in the process.

BIGLex 06-30-2013 08:29 AM

This is GREAT INFORMATION!!!
Thank you very much...

I have always financed my vehicles at the dealership when purchasing so this will be the first time that I go out and get financing on my own before walking in to dealer.

& regarding the financial advice on 72 months...

The "savers" & the "spenders" will always make a good point.

I'm a Business Relationship Manager for a National Bank and I've been in banking for 12+ years (yes, I checked out our rates and it's at 2.74% for 72 months :) ) so I understand the pros and cons, but my goal will be similar to what it_felt_so_good mentioned. Ease of monthly payment but with a goal of paying off much sooner then scheduled by making large payments to principal.

BIGLex 06-30-2013 08:35 AM

Quote:

Originally Posted by StarBrite (Post 3913128)
Check out PenFed.org, too. It's the Pentagon Federal CU. I think the rate we got back in November was 1.49. Had to pay $10 to join and open an account. Pay online option is free.

They approved the loan up to XX amount, sent a blank draft and we filled it out for the correct amount at the dealership at pickup.

Fast and easy! :thumb:

Thanks for the info StarBrite,
How do they know how much money to approve you for?
Did you need the vehicle VIN? (I got it from the dealer already)...

Do you basically, apply for (example) $40k, get approved, walk into the dealer figure out final numbers and cut a check? & based on the amount cut to the dealer will be the amount of your loan?

I think my disadvantage will be that I also have a trade in so how will I make sure they give me a valid amount for the trade in, if my concern is more on the monthly payment?

Flyfisher76 06-30-2013 08:48 AM

Yeah that is pretty much it unless they have a blank check like Capital One Auto Finance where you get approved up to a certain amount with certain vehicle criteria. You pay like it is cash and the dealer handles the rest.

First off don't talk about a monthly payment, you should know around what you will be paying before you get there. Also since you are buying a new vehicle just have them evaluate your trade in and if it isn't what you want then you can negotiate more or sell it on your own. There isn't to much funny business that goes on with a trade in on a new vehicle but it can get hairy with a used one.

WhiskeyMike 06-30-2013 09:14 AM

Quote:

Originally Posted by BIGLex (Post 3913297)
Thanks for the info StarBrite,
How do they know how much money to approve you for?
Did you need the vehicle VIN? (I got it from the dealer already)...

Do you basically, apply for (example) $40k, get approved, walk into the dealer figure out final numbers and cut a check? & based on the amount cut to the dealer will be the amount of your loan?

I think my disadvantage will be that I also have a trade in so how will I make sure they give me a valid amount for the trade in, if my concern is more on the monthly payment?

Starbrite asked that I reply since I dealt with Penfed when we got our jeep.

So initially, you get approved for up to MSRP of vehicle. Provide the vin for them to calculate msrp. Then when ready, call them up and tell them the amount and they will send you a check for up to what you were approved for. They would either make it out to dealer or yourself. If you have it made out to you, you could get full approval amount and use extra cash towards mods on your own. They overnight the check for $20 or so.

Unfortunately, they would not provide a blank check and process your loan for whatever it's made out for.

StarBrite 06-30-2013 09:44 AM

Quote:

Originally Posted by WhiskeyMike (Post 3913360)
Starbrite asked that I reply since I dealt with Penfed when we got our jeep.

Unfortunately, they would not provide a blank check and process your loan for whatever it's made out for.

:doh:

Sorry! Don't mean to be confusing... He arranged the financing, but I filled out the paperwork at the dealership.

They did send us a blank draft, but it was 'payable up to $XX...' So after the dealership calculated the total, took off the trade and added tax and registration I made out the check for the specific dollar amount that was listed on the bottom line of the sales agreement.

We didn't know what the exact payment would be until a few days later. But if you know your interest rate and your local sales tax rate, you should be able to calculate an approximate payment amount with an online payment calculator. Since you said you work in finance, you can probably do that part in your sleep. :)

If I've confused you more, please feel free to ask any questions and I'll try again!

JGreer 06-30-2013 09:56 AM

I got 2.09% for 72 months with my CU (Fort Worth Credit Union). This was back in March of this year.

bronco2716 06-30-2013 10:28 AM

got to your credit union see what they give you and see if the dealer can beat it my credit union was giving me 3.25 and the dealer got me 2.5 for 72

scipio337 06-30-2013 10:36 AM

Two weeks ago I had 2.79% approved through Digital Credit Union. I had all the info and was ready to go. It is a bit of a PITA to have them overnight the checks, etc...

Anyway, I was approved and ready to go, with the "I'm not going to have the dealer jerk me around on the financing!" view. The dealer asked if he could beat my rate, if I would go with his loan. I scoffed and said "yes".

The dealer came back with 2.49 through Chase. I took it.

In conclusion, get the best financing you can lined up (I went with DCU www.dcu.org per recommendations from this site) but there is a chance a good dealer might beat it.

StarBrite 06-30-2013 10:47 AM

FWIW...

PenFed is still advertising 1.79% today, for up to 72 months.


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