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Best place to get a car loan

183 104 May 19, 2020 at 05:49 PM
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Looking to buy a used car 2017-2018 CX5 or CRV. I haven't financed a car in years. I assume it is still better to go to a dealer prefinanced rather than settle for theirs? So where are good places on the interwebs to apply?

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Joined Nov 2005
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#2
Short answer, it depends. I would shop around first, see what kind of rate you could get before going to the dealer, and then check theirs.

I've gotten good rates @ PenFed, but just to give an example they are offering $500 cash for refi's on cars @ 2.99%. OK cool I thought, let me check my current financing - oops with Honda financial I am at 1.9% (on a 2016 CRV btw I bought used a couple years ago). On the flip side, we bought a new Odyssey a couple years ago, went with ass-raping dealer financing just for the sake of getting a lower purchase price then immediately refinanced with PenFed to bring it down into the 2's.

so the TLDR is, check around, there is no blanket correct answer
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#3
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Last edited by edxmon May 21, 2020 at 12:12 PM.
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Joined Jun 2005
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#4
Penfed is usually pretty good many times you can get the dealer to match whatever offer you have.

Credit unions tend to be your best best overall it seems.
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#5
See what the dealer is offering. Friend of mine could have gotten 2.9 ish with PenFed, but the dealer financing offered a bit over 3 - not enough of a difference to join, apply and get a check from PenFed.

We are looking at a used 18-19 high end convertible - will see what the dealer offers. May just keep their financing instead of paying cash or getting a loan. I bought a 2019 Navigator in November - don't usually buy new, but with 0 financing - no brainer!
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