Description of service
Car loan for 11,000 with a 4.9 interest rate. Brand new Toyota Scion. We paid 5,000 and financed the rest.
Review of Service
We would have received a much higher interest rate had the sales person not been honest with us. He was proactive and stated we had a better chance at getting a lower interest rate (saving us a lot of money over the next 5 years)if only one of us was on the credit application. The car dealership offered quite a few ammenities to go along with the 5,000 we gave them and then the 11,000 that we financed. Because of the positive way that they treated us we will shop with them again even if a little higher interest rate.
Tips
If you are seeking some advice or a tip on how to get a good interest rate, I'll tell ya. Don't just decide one day on the spur of the moment that you need a car. Purchasing a new car takes time and planning. We planned for a whole year before settling on a new car. We checked out everything having to do with the car and then waited until the finance offer was just right and then we decided to make the purchase. Over this whole year we were saving a little each paycheck to make a sizable down payment to keep our finance charge lower. Guess what the salesman took us a little more seriously as we had the cash readily available and good enough credit to get the great interest rate that we received.
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