Financing your new smart-How's it going?

[Ativan]

I financed before the rate cut, with USAA bank 5.94 for 60 months. 4.94 for 48 months, not sure if it went down with the rate drop, they finance 100% including tax and license if you want.

[bobnyuma]

I like USAA but they told me I had retired from the military to long ago to qualify. So I'll try my credit unions. I have one in San Diego and the one I use here in Georgia. We'll see who comes thru.

[Old smart]

The prime rate drop apparently hasn't trickled down to Navy Federal yet. A phone call indicated that it is still 3.5%/36 mos. BUT, a different rate may be set with a completed application - could go down. So it goes.

[mike-in-sa]

I started putting money away last April after reserving. Every month I wait is more money for the down payment. 30% saved up so far, my credit union has pre-approved my loan. Just waiting on smart San Antonio to get more cars.

[tivoboy]

I invested 10K in DCX before the divestiture at 67$ Sold it at over 105$. It will pay for over 30% of my smart after taxes.
Thanks DCX

But the MBENZ CC at 0% for one year might be a nice option.

[abseventeen]

Mbenz CC 6.5% for 60 months no mony down. Car plus extend warrenty and floor mats.

[Amethyste]

I got 5.35 with Mbenz directly at the dealership - 60 months.

[dennyrex]

I find this all interesting, and had forgotten all the variations. Is the choice of going with 36 vs. 48 vs. 60 months just about getting the monthly payment you end up with lower or are there other reasons people choose one over another?
I would have thought the shorter term loan the better, in terms of total interest paid, but of course keeping within the monthly amount that you are budgeting for the payment.

Also the decision to finance 100% vs. 70 - 80%. I can use part of my down payment to pay off another higher interest loan, for instance, and finance a larger % of the total cost of the smart. That seems to make sense right now.

- in a city where even large investment banks are going down fast, I'm not the most financially savvy of individuals... the last time I bought a new car, I traded in another car for the "down payment" and financed through the Renault dealer at 48 months. That seemed to work out OK, but that was 20 years ago ;-)

[LinuxGuy]

Dealer financing via Bank of America at 5.49% for 60 months with the now famous $99 down.

[mike-in-sa]

Got my smart last week. Dealer offered 5.1%, my credit union was 4.6 for 36 mo. Put $5k down, hope to have it paid off in a year.