Smart Finance Rate

[FaerieLuna]

Originally Posted by bigcritter

I know that I can get 5.29% for 60 mos. through my credit union, but I've been told that Bank of America will beat whatever your lowest rate is by one point.

I don't know anything about their auto financing, but for credit cards they are notorious for raising apr's without reason in an effort to get you to pay them off quicker. 5.29% is a pretty good rate IMHO - I'd be surprised if you could beat it.

[BobbyBRD]

Campus Credit Union. Credit score right at 700. 5.45% for 48 month. 5.65$ for 60 month.

They told me as long as they get the title and can see it's a car they don't care. They'll just put it in their system under misc cars.

If you get ahold of some extra cash and make a large principle payment they recalculate your loan for free.

[SmartJJ]

Of all places, I got my loan through State Farm Bank. Stopped by the agent the morning of the day I was picking the car up to check on the insurance, and she quoted me a rate of 4.89% for 48 months. Seemed to be good enough, and didn't want to spend a lot of time checking around. Credit score above 800 helps, I guess.

Of course, I had to put the max (set by the dealership) of $5000 on my credit card to get the miles.

[prpsrv]

I used Capital One's Blank check program through Costco. 5.82% 72 months, 100% financing. When I picked up the car at the Smart Dealer they ran my credit at 759. I made the mistake of not asking if they could beat Capitol One's Rate. While sitting in the office doing the deal one of the employees came in and asked the boss what to do if a customer said they had a better rate than the dealer. Without much of a thought he looked at him and said, "Beat it". We are considerning buying a second Smart form the "after market" and rates for a private party purchase jump into the nines even though the car may only have 100 miles on it. Approval from Capitol One came in less than 15 minutes and for 15 dolars you can have the Blank Check overnighted to you if your in a hurry to start driving Smart! Oh Yeah, and the gas savings by sing the smart for errands etc over my Ford F-350 (10mpg) is paying for the car!

[cbjames]

USAA 5.39% for 48 months no money down.

[MinnySmart]

Affinity Plus Federal Credit Union (Twin Cities) offered 4.49x48, 4.99x60, 5.49x72 with excellent credit. smart offered to beat it, got me 5.39x72, but I stayed with my CU out of convenience for me.

[limey]

Originally Posted by prpsrv

I used Capital One's Blank check program through Costco. 5.82% 72 months, 100% financing. When I picked up the car at the Smart Dealer they ran my credit at 759. I made the mistake of not asking if they could beat Capitol One's Rate. While sitting in the office doing the deal one of the employees came in and asked the boss what to do if a customer said they had a better rate than the dealer. Without much of a thought he looked at him and said, "Beat it". We are considerning buying a second Smart form the "after market" and rates for a private party purchase jump into the nines even though the car may only have 100 miles on it. Approval from Capitol One came in less than 15 minutes and for 15 dolars you can have the Blank Check overnighted to you if your in a hurry to start driving Smart! Oh Yeah, and the gas savings by sing the smart for errands etc over my Ford F-350 (10mpg) is paying for the car!

That's exactly what I did. I got the loan at 5.2% through Capital One, then filled out an Appplication for the dealer. They initially came back with 7.9% for 60 months, but when I told them I had the Capital One deal, they dropped their rate to 4.9%

[saronian]

I used the same tactic. It was easy and there was nothing to lose.

[factor9]

Limey & prpwsrv, It's good to have a few good quotes from Capital One (via Costco) before going to the dealer. I was quoted similar figures (4.95%, 48 mos. and no $ down). It also helps to have a good credit rating (816) as well. So, no I'm ready to go into the dealership for some good ole horsetrading. I'm hoping to see what MB has to offer! Bring on my car! Thanks everyone!

[bigcritter]

After a lot of thought and discussion, I finally went with Bank of America through smartcenter Seattle...........4.95% for 72 mos. Plus, they financed 100%, no down, all my options & extras that I wanted, AND they have reasonably priced GAP insurance which even covers your deductible. BOA seems to be VERY competitive in working to get the smartcar financing.