[mongrel]

I have ordered my Acadia and should have it sometime in March, I was just curious about intrest rates. I haven't decided if I'm going to use my bank or just finance through the dealer. Are any of ya'll willing to say what % you were financed at. I know it won't be the same for everyone with credit history and all but good medium for a baseline to see what kind of APR people are getting.

Jonathan
Northern Indiana

 

[002]

I took the 0.0% offered by GM the day I picked it up.

If they hadn't had that, I'd either borrowed from a credit union (they are usually the lowest) or as a retiree, taken some money out of the mutual fund. Just have to do a quick buiness analysis of what's available at the time you need to borrow and go for the best deal that's right for you at that time and place!

 

[optionstrail]

I live in Central/Northern NJ...

The largest dealer in the area (greebrook gmc) has quoted (as sat, feb 24) the following finance rates:

Purchase
-4.9% for 36 months
-5.9% for 48 months
-6.9% for 60 months

Lease
-8.7% (0.003625 money factor) for 48 months, 15k miles/yr, 52% residual

Anyone else in Northeast / Mid Alantic getting similar quotes?

I am wondering folks are getting better rates if they have high credit scores or is everyone (avg to above avg credit score) getting the same rates.

Thanks

 

[NY_Joe]

You will always get better rates with a better credit score.

All the 0% financing stuff has the fine print of only being applicable for peope with Tier 1 credit. Usually high 600 - low 700 credit scores.

 

[optionstrail]

NJ_Joe

My credit union quoted rates (lease or purchase) based on my credit score.

The dealer quoted me the rates posted in the msg above without running a credit check....when i informed him that my credit rating was mid-700, the dealer said that he "cannot change the rate"

So my question to you is: Based on your current Acadia deal, and if you are financing with GMAC (as opposed to a third party finance company) did you get a rate quote specific to your individual credit rating....if so, would you mind sharing the details of your deal.

Thanks

 

[NY_Joe]

Last I checked, my 39mo/12k lease was at 60% residual and 7.2% MF.

The MF he quoted you is WAY OFF. There might be a slight change with longer term but not 1.5%.

As for the residual, it might be under by 2 or 3% points. I can;t see that big of a drop in 9 months and mileage difference.

MIleage difference may be -2% but 9 months can't be the rest which is 7%.

I would ask the sales guy to show you the info first hand or contact another dealer. Credit will always effect the rates you get.

If your credit is mid-700 you should be top tier.

 

[optionstrail]

NY_Joe

Contacted two additional NJ dealers in regards to finance rates:

Purchase:

Both dealers quoted rates above:
-4.9% for 36 months
-5.9% for 48 months
-6.9% for 60 months

Lease:

Both dealers quoted the following (different from above):
-7.2% (0.003 money factor) for 48 months, 15K miles/yr, 52% residual

Asked both dealers if i could get a better rate (lease transaction) for having a higher credit score and they said that the rate was applicable to everyone with credit scores from 650 to 850.......

So,as for the lease finance rate, those looks like dealer with original quote has got some explaning to do.... :

As for the residual difference (on a linear basis), can't explain.....finance companies used residuals % to accomplissh many diffierent objectives.



Thanks for your input.

 

[NY_Joe]

The 52% seems a little low but it is possible.

With the 15k and 48moI could seethem droppingitoff the deep end.

I knew that MF was wrong. It was 7.05 at the beginning of the month.

That is a wide but acceptable range for Tier 1 credit.