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Discussion Starter · #1 · (Edited)
Hi all,
I have my Cali coming on May 20 2006. I am about to go in next week to finalize my financing. Just wondering what rates everybody is getting out there....honestly! And are most of you using the dealer to finance the car or seperate banks? Thanks in advance for everybodys help and i hope this is good information for all! Please note weather or not you are in Canada or the United States.
 

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superbang said:
i went with the dealer.. i'm getting 4.8% :(
Man, I think I got ripped:mad: 6.55% here and I have perfect credit:mad: :mad: :mad: ...and the dealer picked a local bank.
 

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I got mine at 5.59%. Check with E-Loan with excellent credit. The dealer was about to give me 7.5% untill I showed them my power check from E-Loan and they matched the interest rate with a local bank. After 45 days the power check becomes void and you are under no obligation to E-LOAN until you actually use your PowerCheck. Just make sure you know your FICO score. :cool:
 

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It also depends on where you are located. Rates are higher here in Iowa right now. We are about 6+ percent (we have EXCELLENT credit).

Try to go with a Credit Union. They always have a lower rate than a bank.

tiff
 

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umf said:
Hi all,
I have my Cali coming on May 20 2006. I am about to go in next week to finalize my financing. Just wondering what rates everybody is getting out there....honestly! And are most of you using the dealer to finance the car or seperate banks? Thanks in advance for everybodys help and i hope this is good information for all! Please note weather or not you are in Canada or the United States.
I used to be the President of a Credit Union. My advice on financing is to join a Credit Union, and get pre-approved for a loan. Because Credit Unions are owned by their members, they pay no taxes, so they can offer lower rates.

Car dealers usually make more money on financing than the sale of the car because everyone can look up the invoice price for the car. Most people are easily confused by financing details, and dealers know that in the emotional heat of buying a new car, they can take advantage of the buyer by confusing them with the numbers on financing.

I've heard stories of dealers offering extreme lowball rates upfront, then having the rate refused and increased after the owner takes delivery of the car. This is done with the fine print in the contract that few buyers actually read.

Caveat Emptor! :p
 

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wife went through the CU and she is at 2.7% or 2.9% something along thos lines on the caliber loan and I actually went at the right time they had a special with 0% when I went to get a loan for my 300. Which was like a sign from god that I was actually suppose to get the 300!!!!!! :)
 

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I would have loved to use a Credit Union but I am not a member of oen nor can I join one. Once I become a teacher I can, but right now my work isn't part of one. :(

My dealer offered me 6.44% and we have excellent credit. Maybe it's the area, I dunno. I wish I could have gotten lower but oh well. I tried e-loan and a bunch of others and they gave me higher rates. I'm confused about that. Maybe I should pull my credit to make sure it is what I think it is, or what it was in the Fall. I don't know how to do that tho.
 

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go to equifax and pull it but make sure you get the year one for $40 cause the 10 one is only good for a month, I keep track of my credit, may be because when I was younger (19) I had a 1000 things on there that werent mine and it took me almost 3 years to get everything off of it!! You can dispute stuff on equifax online but transunion and experian you have to write into them.
 

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katiescaliber said:
I would have loved to use a Credit Union but I am not a member of oen nor can I join one. Once I become a teacher I can, but right now my work isn't part of one. :(


Check out the member rules for a local credit union. The one I belong to says that anone living in the area can join. That surprised me - but???
 

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A credit union is not always cheaper. I have been a member for a some time to a local credit union and they could not beat the 5.9% rate for 60 months I got a regional bank. The longer the term of your loan the higher the rate will be.
You should never get your financing from the dealer, they will charge you plenty just to submit the paperwork that you filled out. Shop for a loan at your local banks or credit unions to see what kind of a deal you can get and have them pre-approve a loan for you.
 

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My sister just picked up hers yesterday. A Silver Caliber SXT loaded with leather, sunroof, musicgate, etc... She did a 24 month, 1-pay lease, and the Lease Money Factor was .00110, which equates to 2.64% APR.
 

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So far I've had 7.99% to 5.8%. the 5.8% was when the sales guy, "JUST GOT IN OUR NEW RATES!!!" (he was rather excited, but wouldn't actually TELL me the rate until we sat down a half hour later) :mad: I'm in Toronto, Ontario by the way ..


Vision67 said:
Most people are easily confused by financing details
That's me! I was going over some numbers that I got from the first two dealers. I don't have them here, but my results were something like this:

Monthly Payment X 60 = About $2300 higher than the cars price... And then, I had to wonder where exactly the $5000 that was supposed to be a "down payment" went. If I included that it would have been $7300 more ... :confused::confused::confused: ::censored::censored::censored::censored:: :(
 

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I didn't pay cash for a Caliber (as I don't own one), but I do have a 2005 Ram SRT-10 Reg Cab, 2006 Grand Cherokee SRT-8, and a 2000 HD Road King Classic free and clear. I did, however, finance my wife's 2006 300C.
 

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Grad Student = gotta finance ;) I was able to get a rate in the 5% range for 60mo. Essentially I went to the dealer and said beat xxx rate from my insurance company (USAA) and they did.
 

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I got mine financed through D/C 4% over 48months.
 

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on my 2003 neon i had a 10% interest rate overall paying 268 a month for it. for my caliber i am paying 169 a month and i have less than stellar credit...god knows how they pulled that one off...but i wont question it, just go with it!
 

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Discussion Starter · #20 ·
Wow,
Some of the rates are a LOT lower than i expected. I have looked around here in Edmonton Canada and most banks are between 7-9% and some have specials of around 6.3%. I was thinking mine would be around 6.5% from the Chrysler bank. I think i am going to have too look harder for cheaper rates as i have found nothing yet! Wish me luck!
Cheers!
 
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