I am considering my financing options while I wait for my Z to arrive. My credit union has 5.25%/48months and 5.50%/60months. The dealer stated they could get a much better rate but would have to wait for the car to arrive (it is on order) before we set the rate.

What range of rates should I anticipate from Nissan financing?

Are there any gotchas to consider with Nissan financing? Pre-payment penalty? Required insurance coverage?

I just have a hard time trusting car dealerships so I usually go with my credit union.


Thanks,
Jerry

 

Try an online lender like www.peoplefirst.com (they have since changed to capitol one) I got an awesome deal from them. If I remember correctly it was 4.75 per cent. Another good one at the time was eloan.com. I'm with you BTW. I would have a hard time trusting the dealer with anything like that. Remember, their FIRST and FOREMOST goal is to MAKE MONEY for themselves. Whether they do that with the deal itself, options, extended warranties, add ons, trade ins, or financing it doesn't matter to them. They just want your $ and as much of it as they can get.

 

I agree with Bonzer 100%. On the other hand, I did buy my Z with a Nissan loan. Rate, a year ago, was 4.5% or 4.75% with a good credit rating & about 50% down.

I had arranged other financing but the dealer asked if he could try; his deal was about same as bank so I gave it to him. I bought the Z through a broker, the sales manager was clear I was no BS person, & he did a nice job of getting the Z delivered to my front door so I wanted to give him a little back in what he earned from the finance deal.

Have your own deal arranged when you go to get your car. If they treat you right maybe give them a chance to match/meet your loan.

Bottom line with dealers is you HAVE to keep the deal in your hands & give a little back.......if they keep you in a good mood!

 

I got 4.04% for 60 months on a used loaded touring. Guess I did pretty well.

 

I got 3.45% from National Bank of Commerce for 48 months.

 

Im a finance manager for a living, go with the dealer if he can beat it by a point or more, it will make him a few bucks and save you some. As for hidden catches, there are none, the contract at your local credit union and at the dealer are identical in any state in the country (ie. if there is a prepayment penalty it would be same state wide)

Just dont get tricked into paying any bull fees, ie car alarm or some kind of paint protection, just refuse EVERYTHING and you will be fine