03-14-2018, 11:56 AM
(03-14-2018, 11:07 AM)Sijray21 Wrote:(03-13-2018, 10:57 PM)ViPER1313 Wrote: Prime rate comparison on a 60 month new car loan:
PNC: 3.14%
Penfed: 2.99%
COFCU: 2.24%. They also have a .5% rate reduction perk for checking account holders.
http://www.cofcu.org/borrow/auto-loans/v...loan-rates
I know I go on and on about COFCU, but it’s a *great* perk of being a JMU student or alumni.
omg, they have loans that could last 84 months (7 years)... on a car... That's so absurd... knowing what i know now anything over 36 months on a car loan gives me anxiety
If the interest rates are the same, there's no reason not to do a long term loan and overpay. This way you can dial it back if you need some extra cash in a given month.
My last couple car loans have all been 60 months and paid off in 18 or less. The exception there is the F31, which we've had about two years... but it'll be paid off by the three year mark.
'76 911S | '14 328xi | '17 GTI | In memoriam: '08 848, '85 944
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth
"Here, at last, is the cure for texting while driving. The millions of deaths which occur every year due to the iPhone’s ability to stream the Kim K/Ray-J video in 4G could all be avoided, every last one of them, if the government issued everyone a Seventies 911 and made sure they always left the house five minutes later than they’d wanted to. It would help if it could be made to rain as well. Full attention on the road. Guaranteed." -Jack Baruth