First Evo This Week
Jun 14, 2007, 08:57 AM
#17
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Join Date: Sep 2006
Location: Marlborough, MA
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+1 on the credit unions
I got around 5.25% on my Evo loan through a local credit union. The dealership set me up with them too.
The kinds of loans that the dealer will try to offer just depends on how they roll. The one I got mine through tends to set people up with credit unions over
financing. What they will not tell you about is that they set up deals with credit unions and banks. They can offer you special rates through those deals with the financers, in turn the dealership gets kick-backs for setting up so many people with loans from lender X. Other dealerships will just be lazy and only offer you financing, which again, they probably receive special kick-backs for setting up so many loans.
Though, generally, from my experience, credit unions can offer you better rates because they have to fight for your business more than a big-name bank would. Local banks should be alright too, because of the competitiveness. But, definitely shop around on your own and see what you can get.
I got around 5.25% on my Evo loan through a local credit union. The dealership set me up with them too.
The kinds of loans that the dealer will try to offer just depends on how they roll. The one I got mine through tends to set people up with credit unions over
financing. What they will not tell you about is that they set up deals with credit unions and banks. They can offer you special rates through those deals with the financers, in turn the dealership gets kick-backs for setting up so many people with loans from lender X. Other dealerships will just be lazy and only offer you financing, which again, they probably receive special kick-backs for setting up so many loans.Though, generally, from my experience, credit unions can offer you better rates because they have to fight for your business more than a big-name bank would. Local banks should be alright too, because of the competitiveness. But, definitely shop around on your own and see what you can get.
Jun 14, 2007, 09:29 AM
#20
An off-topic note....they are going to try and make you impatient at the dealership by making you wait around...so that you are in a rush to sign the papers....but trust me.....READ EVERYTHING TWICE BEFORE SIGNING.....they will try and slip some BS in there and charge you for it....
Things I have heard of :
-Paint protection BS....$2000 for some wax put on by some crackhead??? no thanks
-Anti-theft chip for like $700.....come on now.....
Don't let the dick you.....You don't even have to pay invoice for these cars....hell I didn't
Things I have heard of :
-Paint protection BS....$2000 for some wax put on by some crackhead??? no thanks
-Anti-theft chip for like $700.....come on now.....
Don't let the dick you.....You don't even have to pay invoice for these cars....hell I didn't