Yes ... but their website is not setup anything like the open road auto group.
For example,
http://www.awin.ca/en/newcars/index.spy
You will have to go to each of the brand/ dealership to search for their rates.
May 25th, 2016 2:10 pm
Yes ... but their website is not setup anything like the open road auto group.
May 25th, 2016 2:15 pm
May 25th, 2016 2:36 pm
Thanks. I was thinking for along the lines of a private CPO dealership. But that site itself is very handy, so thanks for the link!booblehead wrote: ↑May 25th, 2016 2:10 pmYes ... but their website is not setup anything like the open road auto group.
For example,
http://www.awin.ca/en/newcars/index.spy
You will have to go to each of the brand/ dealership to search for their rates.
May 25th, 2016 9:16 pm
Your credit history and the strength of your credit file is the most important component to securing a good rate from your own FI. The car/security is secondary.bomber17 wrote: ↑May 24th, 2016 2:21 pmNever applied for an auto loan outside of a dealership. Just want to see if people are able to get rates comparable to dealerships. I notice on other forums that some people are able to get below 3.9% interest rates even 1.9%. Post what rates you got, length of term, and from which bank/credit union/loaner etc. Thanks!
May 25th, 2016 9:27 pm
I understand that and know of those companies. Most of them offer 4.9-6.9% interest. I want to know if people were able to get lower on third party financing. I have great credit and income, pretty sure I can be approved instantly. It's just the interest rate is high. Reason I'm asking is because the dealer is offering several thousands off a new car but only with cash purchase. With finance, they are only doing couple thousand. I can pay cash but don't want to. I rather keep the money for investments. If no other options, I'll just use my LOC. I'm pretty sure other people will like to know this info too.mikeymike1 wrote: ↑May 25th, 2016 9:16 pmYour credit history and the strength of your credit file is the most important component to securing a good rate from your own FI. The car/security is secondary.
For auto manufactures captive finance arms the mindset of how they qualify is very different. First off they are there to support their retail dealers and their deliverable units and targets.
With this said they will approve marginal clients as a result to assist partnered dealers delivery more cars.
Im sure you have a friend or know of one who has had poor credit in past and may of heard people say, how the hell did that guy get a new car considering he has had extremely poor credit in the past.
Again, with this said, the 0 or 1.9 etc etc that they we're able to get from a new car purchase does not necessarily reflect their credit profile from a National FI standpoint. Some do, many don't.
May 25th, 2016 9:31 pm
May 25th, 2016 9:53 pm
Bottom line both options, finance offerings from auto finance division and cash deal plus your LOC rate. It should be approx 3-4% what you will need to secure in order to go down that avenue. If you can't secure that rate then selecting cash deal alternative will cost you more.bomber17 wrote: ↑May 25th, 2016 9:27 pmI understand that and know of those companies. Most of them offer 4.9-6.9% interest. I want to know if people were able to get lower on third party financing. I have great credit and income, pretty sure I can be approved instantly. It's just the interest rate is high. Reason I'm asking is because the dealer is offering several thousands off a new car but only with cash purchase. With finance, they are only doing couple thousand. I can pay cash but don't want to. I rather keep the money for investments. If no other options, I'll just use my LOC. I'm pretty sure other people will like to know this info too.
May 25th, 2016 10:21 pm
You just have to be lucky or know a good broker. Even here in RFD there was a post about HELOC being prime rate but limited to Toronto. It was a pilot project.aqnd wrote: ↑May 25th, 2016 9:31 pmI want to know where you people are getting HELOC at prime minus anything.
The best rates I've seen are prime, and even those are not for average joes. Only offered to certain professions that they know will give them good money over a lifetime.
Everyone else gets prime+0.5 or prime+1, never prime minus anything...
May 25th, 2016 11:54 pm
Well even if I use the LOC I still have more leftover for any situation that may happen along with some liquid assets. The dealer finance option just not worth it as its 2.9% with just a couple thousand discount.mikeymike1 wrote: ↑May 25th, 2016 9:53 pmBottom line both options, finance offerings from auto finance division and cash deal plus your LOC rate. It should be approx 3-4% what you will need to secure in order to go down that avenue. If you can't secure that rate then selecting cash deal alternative will cost you more.
Moreover, even if it was same you will have to think do you really wnat to use your LOC for a auto purchase? or is it better used or held for something more important.