will GM drop their loan % ?

[frankb]

Just stop at a dealer and he told me that the rate was 5.9 % Does anyone have an idear if it will go down or do I just set and waite. He gave me a good price and a good price on my c5. It was a good deal except for the %

 

[DrNavyRet]

Laws of Nature

Just stop at a dealer and he told me that the rate was 5.9 % Does anyone have an idear if it will go down or do I just set and waite. He gave me a good price and a good price on my c5. It was a good deal except for the %

Frankb
If you read some of the posts on this website, you will note that the great majority are Vette freaks. And I say that with politely since it includes me! We put our money down and are prepared to wait till hell freezes over or just before the 2006's come out whichever comes first to take delivery of our newest toy. We may ***** and moan and say nasty things about GM and the local chevy dealer, but in the end we sit back and patiently wait for our 60,000 ragtop to come in so that we can give all those greenbacks to the dealer and, then, say thank you for making me wait so long. Sounds ridiculous doesn't! But it's true. And as long as we put up with that kind of treatment...do you think that GM will give a lower interest rate or rebate? I think that you have a better chance of winning the lottery. In the meantime, I think I have to see my shrink to find out what part of my brain was left in the combat zone and maybe then I wll be able to understand my and so many others' madness. But buy the car and don't worry about the %age rate. Try a credit union, you will get a better rate.

 

[62RedFuelie]

If your dealer wants the sale, they will help you get a better rate. Most work with banks or other lending companies, not just GM. My dealer thinks he can get it below 4.8%. Do a search on chevrolet.com for dealers in your area. There will be links to lending companies on most pages.

 

[frankb]

Drnavyret, Beleave me I know what you mean. I stoped by and looked at them and I needed one. My car seem so old. My problem was monthly payment. I needed the % to come down for me to become a new owner. Well he called and the car was sold. I gess you snooze you lose. Thanks

 

[Corvette Junkie]

Forget the rate pay cash.

 

[1955 BelAir]

New incentives come out each month, but don't look for anything more than a "Customer Loyalty Rebate" at best on a Corvette, and no low or 0% rates on finance through GMAC.

Your "Beacon Score" will be the gauge of intrest rate with almost all lenders.

 

[hotmtrsports]

If anybody's interested about current GMAC offerings, check this site out.


http://www.gm.com/automotive/vehicle_shopping/currentoffers/index.html

Also keep in mind that if GM does offer 0%, all the incentives and sometimes even the loyalty ones go away, just weight the options out.

Even if the % is lower, most of the time it's better to get the money NOW, than to get it during the course of time. It's a little different with Corvettes...we keep our cars for awhile.

Better to take the money now than to take advantage of the lower percentage and risk trading earlier than you thought.

Chuck

 

[frankb]

thanks Hotmtrsport. That helps alot

 

[OLDGOAT]

Best to pay cash for your toys...

Forget the rate pay cash.

I agree and share this unpopular opinion that if you can't afford cash for your toys then you're not ready to have them. This is undoubtedly the reason for the age distribution of vette owners. Debt is best used only for real estate that appreciates with time and that you can rent or live in.

For further advice on the subject I suggest you read "The Grapes of Wrath"-I do every couple of years. It always helps to refocus reality out of the fog of my baby boomer view of the world.

As for interest rates in the 5% range.....well, that's pretty low in my opinion. I'd say lock that rate in NOW as the oil price shock AND the enormous costs of our adventures in the Middle East are SURE TO RESULT IN HYPER INFLATION of the sort we had 20 years ago when home mortgages were near 20%.

ps. My present vette is paid for thank you and my future full size one will be as well.

 

[JAGSFAN]

Rebates And Rates

Gm Will Not Put Any Special Rates On New Vettes In The Near Future. They May Come Back With A Loyalty Rebate Or An Autoshow Rebate When The Autoshow Comes Close To You. Rebates And 0 Percents Are Used To Sell Distressed Merchandise. The Vette Does Not Fit That Categeory.
My Dealership Can Get Rates In The 3-4 Percentage Range. We Pay Top Dollar For Trades And Will Do Whatever We Can To Make Your Purchase A Pleasant One.
So If You Are Looking For A Vette Give Me A Call.