Re: Experience at Honda dealer

On Sat, 26 Nov 2005 22:22:12 -0500, "Dave L"
<davelieuREMOVE@xxxxxxxxxxx> wrote:

>My current credit union is from 5.35% for 48months. I picked up my Accord
>about 3 1/2 months ago for 4.74% w/Honda financing. I walked in there with
>a pre-approved loan from my credit union, and they beat their best offer by
>a quarter point. It really pays to walk in there with a pre-approved check
>and see what they are willling to do.
>
>-Dave

I am so surprised that the rates are this low. I can understand that
Honda might subsidize the loan through Honda Finance as a buyer
incentive, but 5.35% from the credit union is outstanding. Lenders in
today's paper are advertising 30-year home mortgages at 5.875 to
6.25%. When did car loans become lower risk than home loans?

I usually pay cash for my cars but at these rates I might consider
financing.

.

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