Re: Experience at Honda dealer

"Gordon McGrew" <gRmEcMgOrVeEw@xxxxxxxxxxxxxx> wrote in message
news:8scko11piq04er2cbu1dc0bl1alkdb4rjn@xxxxxxxxxx
> 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.

I never compared the car loans vs. home loans at the same time. Only looked
one up when I needed to. Credit unions normally have very good rates for
loans and such, vs. your traditional bank. For the 5.35%, you may be able
to get it a little lower if you do direct debit for the monthly car payment.

At the moment, I can pay cash for a new car as well - Matchbox, Hot Wheels,
etc... lol

-Dave


.

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