Walkaboutout Posted October 10, 2009 Report Share Posted October 10, 2009 N/A Link to comment Share on other sites More sharing options...
mikejaeggi Posted October 10, 2009 Report Share Posted October 10, 2009 So I have a question about the APR rates you guys are seeing for financing right now. I completely know that something like this varies enormously from person to person, depending on the institution where you get your financing from, and your own personal situation. I’m not looking for any sort of specific answer really, only a basic idea of what you guys who have made recent purchases on a new Shelby are seeing. I’m looking to be in the market for a 2011 I hope and, as I said, I’m curious how things have been turning out lately in the new car market in terms of financing options, especially for the Shelby. If anyone is willing to share, what rate have you been able to snag? Again I know it all depends on a million different factors. Lets say a 5 year plan, a credit score in the range of 760, no other major debt, and maybe 10k or so down on the car. Of course, who knows about the final price on the car itself; say 50k. A payment calculator, or just some basic math, can give you answers for that of course; all except the actual APR you end up with, which is my question. Feel free to offer any other input or details of course, but what sort of APR have you guys managed? Sorry if I ramble, but I’m excited, and one day I hope to be a fellow owner :happy feet: . I never thought I would be able to do it! I don't think you can get the 0% on shelbys so I'd guess anywhere in the low 5%s is average these days Link to comment Share on other sites More sharing options...
ProntoTonto Posted October 10, 2009 Report Share Posted October 10, 2009 From what I've read 2011's will not be out for around 6 months. Anything can happen in the financial markets between now and 6 months. Any rate you look at today may or may not be applicable in 6 months from now. Link to comment Share on other sites More sharing options...
ironpeddler Posted October 10, 2009 Report Share Posted October 10, 2009 I seriously doubt you will get 0% on a Shelby but if you do more power to ya! Link to comment Share on other sites More sharing options...
ironpeddler Posted October 10, 2009 Report Share Posted October 10, 2009 Sorry, double post. Link to comment Share on other sites More sharing options...
scottGT500 Posted October 11, 2009 Report Share Posted October 11, 2009 So I have a question about the APR rates you guys are seeing for financing right now. I completely know that something like this varies enormously from person to person, depending on the institution where you get your financing from, and your own personal situation. I’m not looking for any sort of specific answer really, only a basic idea of what you guys who have made recent purchases on a new Shelby are seeing. I’m looking to be in the market for a 2011 I hope and, as I said, I’m curious how things have been turning out lately in the new car market in terms of financing options, especially for the Shelby. If anyone is willing to share, what rate have you been able to snag? Again I know it all depends on a million different factors. Lets say a 5 year plan, a credit score in the range of 760, no other major debt, and maybe 10k or so down on the car. Of course, who knows about the final price on the car itself; say 50k. A payment calculator, or just some basic math, can give you answers for that of course; all except the actual APR you end up with, which is my question. Feel free to offer any other input or details of course, but what sort of APR have you guys managed? Sorry if I ramble, but I’m excited, and one day I hope to be a fellow owner :happy feet: . I never thought I would be able to do it! Hey, it depends on a TON of different factors. I am acutally the Finance Director at a Chevrolet dealership in Memphis, TN. I don't know too much about Ford Motor Credit, but most of the prime financing companies are the same in underwriting. The BIGGEST factor in car financing is how you have paid your current/previous car loans = car credit to be exact. Other factors are DTI (debt to income) and PTI (payment to income). If you are overloaded on monthly, credit reported debt, the "bank" will give you a higher rate due to risk involved with paying all of your expenses. Also, the #1 factor in credit score is REVOLVING DEBT or credit cards . Before you apply for ANY credit, pay off your credit cards (or at least below a 30% balance to available credit). Once you pay down/off your credit cards, wait until the credit card company updates your credit card file (call them to see when they close out the cycle and update the credit bureau). This will instantly raise your credit score quite a bit! What I mean by that is if you are a 680, pay off/down your credit card and you will then have a 720+. This will now allow you to have HUGE leverage to fight for the best interest rate possible. Hope this helps! Scott Link to comment Share on other sites More sharing options...
ndsvt Posted October 11, 2009 Report Share Posted October 11, 2009 I am around the same credit score and my dealer found a 4.9% APR through Chase bank (which is better than what they could do with Ford Credit). I also put $10k down (and also paying the taxes with cash). Link to comment Share on other sites More sharing options...
AgentIan Posted October 11, 2009 Report Share Posted October 11, 2009 The BIGGEST factor in car financing is how you have paid your current/previous car loans = car credit to be exact. Scott Hi Scott, I found this out the hard way. My FICO score was off the charts, Debt to credit and DTI really favorable, but when I applied for a car loan with a bank that was offering a really great APR I got declined for "no comparable credit" in my history...? Anyway, the completely bizarre thing is that I then asked the car dealer to see what finance deal he could offer me, and without him knowing which bank had declined me, he got me exactly the same loan through that exact bank.....WTF? Regards, Ian Link to comment Share on other sites More sharing options...
justindewoody Posted October 11, 2009 Report Share Posted October 11, 2009 My 3 FICO scores are between 780 and 805. I got my car for $50000 even out the door. I put down $25000 and financed the rest at 4.9%. That was the very best rate that could be found for financing a GT500. That was on July 17, 2009. Link to comment Share on other sites More sharing options...
Walkaboutout Posted October 11, 2009 Author Report Share Posted October 11, 2009 N/A Link to comment Share on other sites More sharing options...
propainter Posted December 4, 2010 Report Share Posted December 4, 2010 I would say that , if you you get a loan at 4.9% that seems to be a average APR. Which is what I got for my 09' shelby, which was at a time when it was a little harder to get any good rates for loans. just thought I'd share my experience, propainter Link to comment Share on other sites More sharing options...
Rachane Posted December 4, 2010 Report Share Posted December 4, 2010 Currently (12/4/10) Pentagon Federal Credit Union is doing new & used car loans for 2.99% up to 60 months. It is relatively easy to join PFCU even if you are not affiliated with the armed forces. Link to comment Share on other sites More sharing options...
Hpfisterer Posted December 4, 2010 Report Share Posted December 4, 2010 3.25% back in June, 60 months. Used my local credit union Link to comment Share on other sites More sharing options...
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