Possible orphan coming up soon. Has anyone used the online credit app on the smart website? It says a 4 hour turnaround for a decision. Any idea what interest rates are with them? I'll be putting down about $6,500 and financing the rest. Or, I can deposit a convenience check from my credit card for 2.99% till Dec of 2009, and pay the balance that way. (theres a 3% service fee but if smarts rates are sky high, might make sense) Balance will be paid off after I sell my Yaris in the spring. Ideas?
Possible orphan coming up soon. Has anyone used the online credit app on the smart website? It says a 4 hour turnaround for a decision. Any idea what interest rates are with them? I'll be putting down about $6,500 and financing the rest. Or, I can deposit a convenience check from my credit card for 2.99% till Dec of 2009, and pay the balance that way. (theres a 3% service fee but if smarts rates are sky high, might make sense) Balance will be paid off after I sell my Yaris in the spring. Ideas?
Use local financing companies, they might give you a better deal, with $6,500 down, you should be able to walk out there with the car regardless. I only plan to have about $2000 down on a passion orphan.
I was talking to a friend of mine who is a Nissan car salesman. We were both wondering.. what is the maximum term length you can get on a loan for a new Smart?
i would imagine like most other car loans, you can go 60mo. Of course as a trade-off you are coughing up lots in interest (due to higher interest rate, and longer time to actually pay it). So if possible don't finance for longer than 36-mo to get the best possible rate. If dealing with the dealer's financing dept directly, tell them to "buy down" the rate (that is how I got my interest on my Nissan Rogue down to almost 1/2 of the original quote).
Also, do investigate your local credit unions and banks. They might give you a better offer, or at the very least give you a bargaining chip with Smart Finance to make sure their rate isn't sky high.
As always, if you can afford it make higher payments than what is on the pay schedule, even if it is just another $50 a month it will save you way more in the long run.
Am I the only one that has been informed that the SMART dealer will NOT accept a cashiers check nor a bank check?
I found it odd but have confirmed that I need to bring cash, do a wire transfer or write a personal check.
Am I the only one that has been informed that the SMART dealer will NOT accept a cashiers check nor a bank check?
I found it odd but have confirmed that I need to bring cash, do a wire transfer or write a personal check.
Was told could not put entire purchase price on credit card here.
I doubt any dealer would let you put a whole car on a credit card. A credit card transaction costs them 3% of the amount. Most dealers I've used will only take $1000 as a downpayment.
Just looked and my bank has a branch 2.58 miles from the dealer. If they want cash, it wont be so bad carrying it that far. Hoping that since it will be a "local" bank to them, they'll accept a cashiers check. I probably will just go with their financing to keep it simple, keep that loan for 6 months, then switch to something else if need be. Never bought a car from out of state before. Figure the less hassles, the better
I support the Credit Union idea myself. I had planned to finance some of my purchase through one but, the SF dealer will not accept their cashier's check either and I don't want to do a wire transfer prior to seeing the car so, personal check it is.
My bank has a branch less than a mile from the dealer but I don't care to carry that much cash even that far. Who knows what could happen with that much cash in my pocket? Certainly not me, I've never had near that much on me!
I did $15,000.00 in CASH and the rest on the credit card.
They seemed surprised at the pile of Benjamins.
They said they would allow no more than 10% to be paid via the credit card.
I was looking forward to the 1 to 1 and half % kickback on my Costco American Xpress card on which I hoped to put the whole thing.
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