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APR financing rates / Lease rates

INForged

Ready to race!
Location
U of M
Saw this posted elsewhere. Rates have definitely gone up since last I looked into financing a car. :frown: What's a grad student to do..

Financing:
Tier 1 Credit - 3.9% (for 48 months), 4.9% (for 60 months)
Tier 2 Credit - 4.9% (for 48 months), 5.9% for 60 months)

Lease: (info from RockinGti)
36 mos. =55% residual rate

39 mos. =53% residual rate
42 mos. =49% residual rate
48 mos. =475 residual rate

Money factor:
12-36 mos. =.00289 (around 6.9% I believe) 39-48 mos. =.00309 (around 7.4% I believe)
 

kazyce

Ready to race!
Location
DC / NoVA
INForged said:
Saw this posted elsewhere

Tier 1 Credit - 3.9% (for 48 months), 4.9% (for 60 months)
Tier 2 Credit - 4.9% (for 48 months), 5.9% for 60 months)

Rates have definitely gone up since last I looked into financing a car. :frown: What's a grad student to do..

If you're graduating soon you might inquire whether VW has a recent graduate program. I know most manufacturers offer this and it may help you get approved or get better rates. Most car manufacturers have these programs cause they know that recent grads mostly have little or no credi.
 

YenPxxx

Drag Racing Champion
Location
Toronto Canada
ari said:
Anybody know the rates for Canada? Are the rates the same for leasing?

I don't think the rates are out in Canada yet since the car is still a month away from even showing up at dealerships. Maybe Malby7 knows something he's from Ontario also.
 

the_saint

Touring Car Champion
INForged said:
Lease: (info from RockinGti)
36 mos. =55% residual rate

39 mos. =53% residual rate
42 mos. =49% residual rate
48 mos. =475 residual rate

Money factor:
12-36 mos. =.00289 (around 6.9% I believe) 39-48 mos. =.00309 (around 7.4% I believe)

Can somebody please explain to me what that stuff means? I have no idea what residual rate or money factors mean.
 

erick.s

Autocross Champion
Location
CT
I did the 3.9% for 48 months plan from VW Credit.
 

bigdyno

FIA World Rally Car Newbie
Location
Toronto, Ontario
ari said:
Anybody know the rates for Canada? Are the rates the same for leasing?

5.9% regardless of term length. FYI, if you go 66 months instead of 60 (they will do this) like I did, it will really drop your payment. Mine went down roughly $45/month. BE WARNED: this will increase the interest cost. I plan to have my car paid off by year three, but just in case, I want the lowest monthly I can get and this is why I took this option
 

atomoverride

Ruler of Omicron Persei 8
Location
Long Beach, CA.
I got 4.25% from my credit union on my gf's 2005 scion xB. for 60months. I already checked with them regarding my planned purchase of the 2006 GTI and they said I could get the same rate for that as well.
 

Wantagti

insufficient funds
Location
Apex, NC
Car(s)
Chevy Suburban Z71
5.9 for 72 is awesome. 4.2 is just a no brainer. I financed quite a few through http://www.capitaloneautofinance.com/Loan/RatesTerms/AutoLoans.aspx , they're higher right now, but they kicked everyone's rear a while back. For those having problems, give them a try. I had the check in the mail the next day at no charge. I have good credit, which helps. I probably financed 6 or 7 cars through them without any hassle.

Shoot, they even put the whooping on my credit union http://www.ncsecu.org/Products.aspx?page=2&item=6&Name=cntlNewVehicle
I wish they'd do 0%, that would truly be awesome!
 
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