APR on high credit score auto loan

[_zman]

Would anyone be able to share a recent APR rate, through whom, for an 800+ credit score?

Thanks.

[cobhc]

6.8 with almost no down payment.

[cobhc]

I was looking on Audi's website and it's weird that they have 2.99% for 2022 models but it jumps to 5.99-6.49% for 2023 models

Might be special finance rates with strange terms.

The Audi dealership I got my R8 from was offering me 5.99 like three months ago. Terrible market rn.

The 6.8 is from a car I signed last month.

[i3oosted]

I was just under 800 and they were telling me 7-8%s lol, rates going crazy right now.

[ThaRoostah]

I was looking on Audi's website and it's weird that they have 2.99% for 2022 models but it jumps to 5.99-6.49% for 2023 models

Those are incentivized financing rates. The finance arm of the manufacturer will offer lower than market rates to help sell cars. Its absolutely no different then offering a couple grand off of a certain model but they do it on interest instead of purchase prices. Those incentives will likely move to the 2023 models eventually but they would like to move the 2022's first.

To OP's question rates are in the upper 6's

[ThaRoostah]

I was just under 800 and they were telling me 7-8%s lol, rates going crazy right now.

Go to your bank or a local credit union. Should be able to get just below 7% but not by much

[i3oosted]

Go to your bank or a local credit union. Should be able to get just below 7% but not by much

Currently in the 5s w/ my credit union I bank with.

[_zman]

I checked a few local credit unions and I'm seeing advertised rates in the 2-3% range, so I'll start calling em up to confirm.

[Redfish225]

I got 2.99 on my 2021 Silverado RST IN 2020, got 11 months left on that mf. Might go ahead and pay it off in march. Crazy chit is it only has 10k miles on it and is currently valued at $46,201 and I paid 52k.

[R3L3NTL3SS]

Rates are full retard right now. Don't care how good your credit is, you won't get anything under 5.5-6% right now. Maybe with a credit union, but doubt it.

[Ramoneb87]

I'm sub 800 in november I was offered 7.29% on a 55K loan 60 month loan. Payments would have been 1100 a month so I backed out

[MikeLowrrrey]

Don't buy right now is the consensus. Stop letting dealers scam us

[headturner1]

Don't buy right now is the consensus. Stop letting dealers scam us

I’m good with this.. I’d love to see a demand drop.

[Murph0408]

my buddy just bought a new hyundai with great credit and still wound up with mid 6 APR. i was like dude what.

granted i haven't bought a car in 5+ years so i'm way out of touch but that's crazy to me.

[i3oosted]

my buddy just bought a new hyundai with great credit and still wound up with mid 6 APR. i was like dude what.

granted i haven't bought a car in 5+ years so i'm way out of touch but that's crazy to me.

Just the way it is right now. Feds keep raising rates to curb inflation. Happened to housing market a little while back.

[Murph0408]

Just the way it is right now. Feds keep raising rates to curb inflation. Happened to housing market a little while back.

so if i want my $100k dodge superstock challenger i have to not only factor in the taxes but at least 6 points on the loan? eff me.

[_zman]

If rates are that low it's almost not even worth it to make a down payment since you can get 3.5% from SOFI checking

I was contemplating buying now but found out insurance on an Audi S5 is about $275/month.. and I've never even been in an accident, makes no sense

Exactly what I'm gonna do. If they require a down payment, I'll do it. Credit union confirmed 2.5% is their rate. I'll pay cash, then finance it. I'll make more money at 3.3% if it stays in my Capital One account. But I'll lose the sign up bonus for the withdrawal.

Shop around for insurance though. I just switched cuz State Farm was going nowhere but up. The '07 Acura TL was $90, now $45. The '21 Acura will be around $105.

[i3oosted]

Exactly what I'm gonna do. If they require a down payment, I'll do it. Credit union confirmed 2.5% is their rate. I'll pay cash, then finance it. I'll make more money at 3.3% if it stays in my Capital One account. But I'll lose the sign up bonus for the withdrawal.

Shop around for insurance though. I just switched cuz State Farm was going nowhere but up. The '07 Acura TL was $90, now $45. The '21 Acura will be around $105.

Insurance has gone up all over the US recently, was talking to an agent. GEICO went up for me for no reason, I’m in a state where they can raise the insurance rates however much they want, some states are capped apparently. Thanks Biden.

[_zman]

Insurance has gone up all over the US recently, was talking to an agent. GEICO went up for me for no reason, I’m in a state where they can raise the insurance rates however much they want, some states are capped apparently. Thanks Biden.

Shop around man. From my understanding, it's standard procedure for companies to raise their rates for existing customers. They figure it's just a standard cost increase. My GF's dad is a bit over the top about it. He changes every 6-12 months.

[MFarrar74]

my mom just got 5.125% from her credit union. I dont know her score but assume its high as she has no debt, other than this new car, and buys everything on amex and pays off at month end.

[_zman]

How much is your credit union giving you @ 2.5%?

I just submitted the application to become a member. So that is pending, then I'll apply for the loan and try to update you. I read the terms wrong, however. If I do 36mo, it's 1.99%.

If I do 48-60 it's 2.75%, which I will lean towards since checking account gets a higher rate, currently anyway.

I can also apply with local CU, which I think was 4.5. Since I have the cash and 800+ score, I'd be very surprised if I don't qualify for the best rate. The ratings were so so on the CU with 1.99%, some people saying it took too long etc, but obviously I'm willing to be patient at that rate.

[ToxMasculinity]

For all the veterans out there, Navy Federal is below 5% if you get an auto loan for 60 months or less. (Ded fkn Srs)