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-   -   What finance rates are offered right now? (http://www.ramforumz.com/showthread.php?t=151140)

vinnny 08-22-2013 09:00 PM

What finance rates are offered right now?
 
I can't get to the dealer to pick up my truck until Saturday. Does anyone know what finance rates Ram is offering for the 2014's?

Jimbug 08-22-2013 09:08 PM

I think it depends on who finances your truck. With only putting down $500 down on my truck (it was used with 13000 miles) I was financed at 3.99% then went through my credit union and got 3.83% and payments are $384 month.

vinnny 08-22-2013 09:16 PM

Thanks Jimbug, but I was wondering about what Ram was offering for financing a new 2014.

astonius 08-22-2013 09:54 PM

Obviously it depends a lot on your credit, but my credit union quoted me 1.99% for 72 mo with nothing down. Some dealers have told me they can get even lower.

crabjoe 08-22-2013 10:29 PM

If you can get 2% or better you're doing good....

If you have a Equifax Nextgen FICO of 740 or better and don't mind having your payments directly withdrawn, you can get 1.49% with Alliant Credit Union for up to 72 months.

Other then a promo rate with the captive lender (Chrysler financial, in this case), the best rate I've heard was 1.49% though the dealer.. This rate was with Bank of America and was the wholesale rate to the dealer. You as a consumer can't get it directly from BoA.

Yankee 08-22-2013 11:30 PM

You wont get a straight answer from Chryslers lending arm unless and until you actually apply...you wont find anything online except anecdotal stories that probably wont apply to you...If you havent done your homework, you put yourself at their mercy when you walk into the dealership, and they know it....they arent there to do you any favors...especially if you have to use their lending process...I expect to receive 1.65% on whats left after a substantial down....they KNEWI had shopped around...The dealer is affliliated with a Credit union of which i am NOT a member...but Im getting that rate..It was a simple 1/2 page application and approved on the spot.....you have a couple days, make some calls...assuming you have a reasonable credit score, you have options that can, conceiveably, save you thousands...if not, you take what you can get...good luck...

tev9999 08-23-2013 09:39 AM

Pentagon Federal CU (penfed.org) is offering 1.99% (depending on your credit). You can join and apply for the loan in about 10 minutes online with instant approval. They send you a bank draft for up to the amount you request. Since it is Friday and you want to pick up your truck tomorrow, it might be tough to get it in time, but I understand you can pay to have them next day air the blank check. Not sure if they could process it fast enough for Saturday delivery, but Monday/Tuesday would be possible. They might be able to work directly with the dealer also so you don't have to wait for a check.

Personally I would apply somewhere online like PenFed that will give you instant approval. If you get approved, you know you are qualified and can pressure the dealer into getting you better than their rate. If they can't, you may have to wait a day or two to get your truck, but the savings would be worth it.

DAA 08-23-2013 10:44 AM

A condition of getting a free Mopar lifetime max care warranty with my '13 order was that I finance through Chizzler at 2.69% and wait three months before I refi. Of course they know and I know that they can't hold me to that three month pledge. I'm free to refi the second I take delivery. But, I won't, since I said I wouldn't.

- DAA

skytop 08-23-2013 04:10 PM

Don't forget to check your credit union where you usually can get better rates than a dealer. Then you can collect the entire incentive ...if available. Dealers factor a loan so they get part of the payment. Use dealer only if exceptionally favorable rates are being promoted. New vehicle purchases engender the lowest rates for your given FICO score.

crabjoe 10-10-2013 08:04 PM

Reactivating thread!!

My truck is now at the local rail yard, waiting to be delivered to the dealer.

As of yesterday, I had my dealer run my credit to see what rate they could get me on a 72 month loan... They came back with 1.89% with BoA and 1.69% with Capital One Auto. I can go Alliante CU @ 1.89%, with a $100 bonus or 1.49% with auto draft..

Originally, I was going to go with Cap 1, but after speaking with a few people, I'm not so sure... I was told I do NOT want Capital One Auto, on my credit report, because they are a known subprime auto lender... They stated, no matter how good my credit might be, under a manual review for future credit, Cap 1 auto will stick out like sore thumb and if I was border line, it would put me into a "Decline" category.

I guess what I need to know is if there's anyone else I should look at for financing and what anyone's thought are on going with Cap 1. Also, is there anyone else I should be looking at? I'm thinking about going with BoA because they have branches all around me and I like the idea of being able to walk in to make a payment ... but that Cap 1 rate is really bothering me... even though the savings is only a few dollars a month..


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