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I will be financing my car when it comes in a couple months :banghead: My credit score is a 690 right now...I just wanted to see what finance rate other people with a credit score close to mine got when buying their SI.
 

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Acorns!
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From the net it looks like the national average is about 6.49% for a 5 year loan. That would be tier one - at 720 credit and above. I'd shop around at banks/lenders and also see what honda can give you as well. It's always better to know the bank rates before you hear what honda will give you. That way you'll have something to compare it to.
 

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yeah shop around ure self for t he lowest possible rates.. Honda screwed me when i had them do it.. My credit was just abover average and i got a high rate of 10.74% through BOA and it killed my credit cuz all the credit checks they hadthe banks do..


6 months down the road im refinancing for a lower amount.. but my pay off is carprice plus one months intrest.. now it will be 2 cuz i just made my 1st payment of 600..

The HONDA stealership robbed me, A good learnin lesson though..

Shawn..
 

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i got 5.9% for 36 months. i make payments of 536.51 a month. just sent my first payment haha only 35 more payments left....... haha
 

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wow...well i have a error on my report...i have the same name as my father...one of his credit card judgements ended up on mine because some jack%%% didnt use SSN instead of just the name. I have wrote to Equifax and included proof that it doesnt belong on my credit history. So once all that is cleared up im sure it will help out some. thanks for the input on this, I was real curious as to what other people were getting financed for. I definitly WILL NOT finance through Honda.
 

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I had a credit score of 720+ beacon and the sales guy tells me wow..you could get AHFC loan.....then when I go behind closed doors finance guy got my mind off intrest rate by offering me all the warranty stuff, lo-jack, window etching and wanted me to sign papers quickly. Saying stuff like this ones nothing no need to read. I had to ask him what my rate was because I didnt see it on any of the papers I signed and He didn't tell me it was 9.99% until after the fact.
 

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Discussion Starter #10
~racnjsn04~ said:
I had a credit score of 720+ beacon and the sales guy tells me wow..you could get AHFC loan.....then when I go behind closed doors finance guy got my mind off intrest rate by offering me all the warranty stuff, lo-jack, window etching and wanted me to sign papers quickly. Saying stuff like this ones nothing no need to read. I had to ask him what my rate was because I didnt see it on any of the papers I signed and He didn't tell me it was 9.99% until after the fact.
If you ask them what your credit score is, do they have to tell you? Also, what is a AHFC loan?
 

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spear85
American Honda Finance Corp.... something like that.
They dont have to tell you, but you have to let them pull your credit, they cant do it unless you say. I think you can get a copy tho, if you call the credit bureau they pulled it from.

~ranjsn04~
Go refinance TODAY !
 

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Loan

ChinoiSI said:
i got 5.9% for 36 months. i make payments of 536.51 a month. just sent my first payment haha only 35 more payments left....... haha
Thats high % for a new car loan.....~ 36x536, your going to pay 19300 for the car....thats not too bad. How much intrest is that
 

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Discussion Starter #14
As of right now my plan is to get a 5 year loan and just make double payments. or would i save more money in the long run by getting a 48 month loan with higher payments? and just pay some extra?
 

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spear85 said:
If you ask them what your credit score is, do they have to tell you? Also, what is a AHFC loan?
AHFC= american honda finance corp.

Yes, they will gladly tell you your credit score if you ask.

Also there's a little more to the story I didn't mention in my first post.

I found out the next day after I bought my car that the salesman that sold me my car was fired from honda for telling his customers to shop around for better intrest rates..he knew they was ripping people on financing rates...but the thing is the sales guy never even mentioned to me once to shop around for a better rate, so I'm assuming it was a customer before me...

Nows its been 4 monthes since I purchased my civic and I go in for an oil change and find out that the financing guy that ripped me off also just got fired. I'm guessing it's because he was scamming people on intrest rates to get a better bonus for himself...

Btw...I did refinance ASAP but it costed me over $100 in intrest just for the short 2 week peroid that I had that 9.9% intrest rate, so I complained to the finance manger and he gave me 3 free oil changes.
 

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Discussion Starter #16
~racnjsn04~ said:
AHFC= american honda finance corp.

Yes, they will gladly tell you your credit score if you ask.

Also there's a little more to the story I didn't mention in my first post.

I found out the next day after I bought my car that the salesman that sold me my car was fired from honda for telling his customers to shop around for better intrest rates..he knew they was ripping people on financing rates...but the thing is the sales guy never even mentioned to me once to shop around for a better rate, so I'm assuming it was a customer before me...

Nows its been 4 monthes since I purchased my civic and I go in for an oil change and find out that the financing guy that ripped me off also just got fired. I'm guessing it's because he was scamming people on intrest rates to get a better bonus for himself...

Btw...I did refinance ASAP but it costed me over $100 in intrest just for the short 2 week peroid that I had that 9.9% intrest rate, so I complained to the finance manger and he gave me 3 free oil changes.
Wow...good thing you found out you were getting ripped and did something about it soon enough. I know car salesman are in it to make money but they could at least be a little more honest. There is no way I will get my financing through the dealership whatsoever after hearing some of the stories from people like you. thanks alot for the heads up
 

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Mo Money Mo Money

spear85 said:
As of right now my plan is to get a 5 year loan and just make double payments. or would i save more money in the long run by getting a 48 month loan with higher payments? and just pay some extra?

All depends on the Intrest rate for a 48mo vs a 60mo.

Use this to calculate

http://autos.msn.com/loancalc/newloan.aspx or
http://partners.leadfusion.com/tools/navyfederal/auto05/tool.fcs


$20,000 48mo at 4.5 = $456mo total cost = $21,981 total intrest = $1,891
$20,000 60mo at 4.9 = $459mo total cost = $22,065 total intrest = $2,065
 

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sorry to bring back old thread. but i was readin how some one asked if they haveto tell you the rate..

Yes if you ask they have to tell you..You have the right to know what the banks rate was and how much they added on.. they will weed around it though and make it pointess and make u forget you asked as They did to me..
 

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Discussion Starter #20
Snaker said:
4.9% 60 Mo.
my goodness....what is your credit score?? you must have a crazy good score to get that low of a finance rate. Most people i know have good credit and they have been getting like 7 % or higher
 
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