DDoes our Rate Calculator give the very best rate in all scenarios? For the most part, the answer is yes.
However, as lending sources react to increases by The Federal Reserve, credit unions are the exception and maybe slower to make an upward or downward move accordingly.
By example, the very best rate on a new car with a significant down payment is on a short term loan (such as 36 or 48 months), with a FICO score above 760 is 2.44%. A Credit Union may take a no risk position on this type of customer only and provide a rate as low as 1.99%, as they are not influenced by the Federal Reserve. This scenario represents a very small segment of the auto buying public.
The majority of time, a dealer has the ability to provide the very best rate when requesting financing. Your ability as a consumer to acquire the same rate that an auto dealer will receive from a lender will give you the best case scenario for a lower monthly payment.
Negotiating with an auto dealer can be frustrating even when you're armed with as much information that's available. What's becomes more difficult is the method used by auto dealers to give you options called a " menu presentation". This presentation has multiple monthly payments with various yearly terms and down payments. Even the most seasoned negotiator can't be sure they are receiving their best deal with their best rate and best monthly payment. At Rateous, we will work on your behalf directly with a choice of auto dealers to insure you get the best deal you deserve regardless of you credit situation. Unlike many other web-sites, there is no fee for our service which makes your buying experience easy and enjoyable.