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Compared my credit union's car loan to a dealer's offer, saved $2,100 over 48 months
Walked into the dealership thinking I'd just take whatever financing they offered. The guy quoted me 7.9% APR. Called my credit union on the spot, they pre-approved me at 4.2%. Dealership tried to match it but couldn't. Took the credit union check, drove off paying way less. Anyone else get burned by dealer financing before checking other options?
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gray_morgan2mo ago
My credit union gave me 3.9% a few years back on a used truck.
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logan5252mo ago
Oh man, that's a really solid rate for a used truck! I gotta ask @gray_morgan, did you have to haggle hard with them or was that just their standard offer at the time? It feels like those low rates are becoming a unicorn now, especially with how rates have jumped the last year or two. Makes me wonder if smaller credit unions are still holding onto those deals better than the big banks, or if it's more about having a long history with them. Either way, you lucked out locking that in when you did!
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juliarodriguez2mo ago
3.9% a few years ago was a different world. Credit unions are usually better than banks but even they've jacked rates up lately. You basically need perfect credit and a down payment to even sniff anything under 6-7% now.
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