Hi everyone,

I was just wondering through what company did you get your car financing and at what rate?

I am looking at the option to fill out a credit application through "carloanscanada.com", but I must admit that I am a little weary about doing so online. There seems to be many online companies offering this brokage service, but most seem to ramble on about bad credit and no credit ratings.

I have a very good credit rating and I am curious to see if these companies can give me a great rate according to my credit rating...or will they give me an APR from the bad credit pool of lenders?

Has anyone tried these services? What is your story?

I am sure your stories can help MANY people in here obtain a decent loan rate, including myself :smiley_thumbs_up:


Thanks again for your time and input :)

Hi everyone,

I was just wondering through what company did you get your car financing and at what rate?

I am looking at the option to fill out a credit application through "carloanscanada.com", but I must admit that I am a little weary about doing so online. There seems to be many online companies offering this brokage service, but most seem to ramble on about bad credit and no credit ratings.

I have a very good credit rating and I am curious to see if these companies can give me a great rate according to my credit rating...or will they give me an APR from the bad credit pool of lenders?

Has anyone tried these services? What is your story?

I am sure your stories can help MANY people in here obtain a decent loan rate, including myself :smiley_thumbs_up:


Thanks again for your time and input :)

besides the loan in itself,
in 4-5 yrs or so, when its paid off, how easily can you get the lien removal letter from them?
not sure how it works in canada
in US title has a lien by bank/loan company and at end of loan must get letter from such to remove the lien.
past 2 cars have gone directly through chrysler financial, rates been comparable to rest of industry, and been reliable.

As of this morning, Chrysler Canada is offering up to 60 mos o% finance.
That is on top of the thousands back to the customer to by their product.
Check their website. I got 3.99% thru Royal Bank as part of the promotion
for Aug, 09.

M.

here in the states I got my loan thru citizens bank and it was like 5.38%

You could also check with your bank as well. I used CIBC for my last vehicle and had no issues.

According to Dave Ramsey, you should never get a loan for a car... but I went through my Credit Union and got a rate lower than Chrysler and other banks right around 5% :-)

here in the states I got my loan thru citizens bank and it was like 5.38%

I bought mine using my home equity credit line. If I'm going to be paying interest, at least it's tax deductible that way. This might not be applicable in Canada [or if you don't own a home, obviously], it's just how I did it over here.

Hi everyone,


In a previous thread, for those of you who saw it, I did mention that a jeep dealer was trying to make me swallow a car loan for 84 months @ 7.99%...I didnt walk away from the deal...I RAN! :banana:

And with just cause. I can see by all your post that I would of been screwed really nice and hard, without so much as getting a kiss first! :wow:

Terasec : Thanks for the tip. I will look into it when I am ready to make my choice.

Mopar : Awesome! I just checked the site a few minutes ago...and you're almost right! ;) Jeep.ca has just posted a $1750 cash back for the patriot, PLUS 0% financing for 36 months, not 60. According to the site, they seem to be offering 3.99% on 60 months. I am going car shopping this week-end! *woo-hoo!*

chadandy12 : Yes...loan rates in the states are usually much lower than up here. But this new chrysler deal for september is sure hard to beat!

klingoff : I have been to a few banks, and right now , the average finance rate is 8%...And I told all of them its 3% over what I am willing to pay. No one came back with a counter-offer yet. Go figure!

ilflyya : I dont really know Dave Ramsay...but i'm gonna take a guess that he already owns 3 homes, 6 villas, 12 hotels and a brand new car for everyday of the week. Hats off to him. But I, as with the rest of us mere mortals, need a loan to purchase a new car! ;)

joesjeeps : I used to own a home and 2 cars. Now I rent an apartment and drive a mountain bike. Oh well!:D It's funny you should mention this credit line and tax deductions; I was told the exact same thing 2 days ago by my friend who lives in NYC! *lol*


I have searched high and low on these forums for a discussion like this. And I beleive that the more people fill this thread, the more popular it will become, and in turn, help many of us who are actively looking to purchase a new car/truck.

Hi everyone,


In a previous thread, for those of you who saw it, I did mention that a jeep dealer was trying to make me swallow a car loan for 84 months @ 7.99%...I didnt walk away from the deal...I RAN! :banana:

And with just cause. I can see by all your post that I would of been screwed really nice and hard, without so much as getting a kiss first! :wow:

Terasec : Thanks for the tip. I will look into it when I am ready to make my choice.

Mopar : Awesome! I just checked the site a few minutes ago...and you're almost right! ;) Jeep.ca has just posted a $1750 cash back for the patriot, PLUS 0% financing for 36 months, not 60. According to the site, they seem to be offering 3.99% on 60 months. I am going car shopping this week-end! *woo-hoo!*

chadandy12 : Yes...loan rates in the states are usually much lower than up here. But this new chrysler deal for september is sure hard to beat!

klingoff : I have been to a few banks, and right now , the average finance rate is 8%...And I told all of them its 3% over what I am willing to pay. No one came back with a counter-offer yet. Go figure!

ilflyy
a : I dont really know Dave Ramsay...but i'm gonna take a guess that he already owns 3 homes, 6 villas, 12 hotels and a brand new car for everyday of the week. Hats off to him. But I, as with the rest of us mere mortals, need a loan to purchase a new car! ;)

joesjeeps : I used to own a home and 2 cars. Now I rent an apartment and drive a mountain bike. Oh well!:D It's funny you should mention this credit line and tax deductions; I was told the exact same thing 2 days ago by my friend who lives in NYC! *lol*


I have searched high and low on these forums for a discussion like this. And I beleive that the more people fill this thread, the more popular it will become, and in turn, help many of us who are actively looking to purchase a new car/truck.

As long as you don't use the full term
If min payment on 82 months is 250 compared to 400 for 60 months.
Can always finance for 84 months pay your 400 a month. And if you are struggling in a few years at least you have a lower minimum to meet.
I financed for 6 yrs and plan on paying it off in 4-5 yrs.
I always pay more than the minimum even if its only 20-50 more

Not many people have much equity in their homes anymore either due to the housing cash so it may be a bit tougher to qualify for and personally the tax deductable portion sounds nice but everything else about a home equity loan scares me.

I bought mine using my home equity credit line. If I'm going to be paying interest, at least it's tax deductible that way. This might not be applicable in Canada [or if you don't own a home, obviously], it's just how I did it over here.

That cash back they are offering is to given to the customer after the negoiated price!
Make sure they knock off that amount after you agree on a figure. The dealer will tell you it is a rebate. It is not. It is what it says it is, an incentive.to buy their product. My brother in law has been selling cars for 25 years and he had me prepared. (He works at a GM dealership) Do not show your hand with what you know and ask to take the work sheet with you before you sign it to be looked at by someone in the "biz". If they balk, think long and hard about buying from them. They will pull a fast one with you if you let them. KNOWLEDGE IS POWER!!

M.