Hey guys! Any suggestions as to where to receive a loan. I do know www.eloan.com preapproved me for 4.99% on a 5 year loan, but is there anywhere thats better. I am just getting ready for January. Thanks, Buzz!

 

I don't know about better, but www.peoplefirst.com is another that a lot of people have used.

If I were you, I would take the eloan and have the dealer beat it or match it through NMAC or a local bank.

 

I used PeopleFirst and I really can't say enough about them. I was completely satisfied with their service.

Last I checked, with excellent credit and with direct withdrawl out of your bank account, 4.50 on a 3 year loan and 4.99 on a 5 year.

I didn't want the direct withdrawl so I got 5.20.

At the very least, these are invaluable ammo to go into battle with when you negotiate with your dealer. PeopleFirst will meet or beat ANY other viable offer however. All you need is written proof of the rate and you fax it into them and they'll beat it.

 

i went for as low an eloan as possible, then took the offer to Nissan and they beat it by .25%

 

If you would have taken Nissan's rate to PeopleFirst, they would have beaten THAT. Especially if you told them you originally went to eloans. PF and eloans are "arch rivals".

 

That's one thing I didn't like about the online loan companies. They require you to do direct withdraws to get the lowest rates.

If you get them to do it through the local bank or NMAC, you get the same or better rate and can just write them a check each month.

 

I got 4.5 from PeopleFirst...now I am just waiting for my car to arrive I had to get direct withdrawal, but in my opinion that is much more convenient than writing checks every month.

Before applying with PeopleFirst I asked my dealer what the lowest rate they give is and they said 6%, so I doubt they would beat what PeopleFirst gave me...but we'll see.

 

How come all these online car loan company's can provide us with much lower rates is there a catch to them? I just don't want to get scammed...........I never feel 100% safe when dealing with online company's... But lately I've been hearing alot of positive things about them.

So peoplefirst is a very good choice?

Thanks

 

I think Peoplefirst is trustworthy, if you do a search on it lots of stuff will come up because a lot of people on these boards have financed through them. They are also associated with my Credit Card company (Capital One - Whats in your wallet?) so I guess thats another thing.

 

Thanks, I'm going to do a search to see how everybody's experiences with them was like.

 

i used 5 online lones this year for 5 diffrent cars and by 5 diffrent lenders all were awesome peoplefirst had to be the best, they also make your dealer feel better with that bank draft check the other loan companies make you print out the lones in your puter
all in all try lendingtree.com they work with all the online providers inc peoplefirst there job is to find loans from diffrent companies.and the reason why online lones are lower than the dealers is because the dealer gets a % of the financing if you do it thru them.