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As my delivery nears, I was curious on what some were doing in terms of financing? My credit union, Penfed, is offering 1.49% for 36months and 1.99% for 48-60 months. Before I obtain my financing through them, what are the rates that some of you are getting through Volvo? I know it varies by credit score. I currently have 800+ rating. Any advise would be appreciated.

Did anyone get less than 2% from Volvo/dealership?

Thanks!
 

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I got 2.10 for 60 months through U.S. Bank (set up by Volvo). I was hoping for 1.99, so it was pretty close. My credit score is somewhere around 740.
 

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Volvo started with 2.49%. I laughed and said "I can get 1.74% with Truliant." Volvo matched it.
 

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I usually avoid financing at dealers as they try to sell you everything under the sun. Our credit union offers 1.69% up to 60 months and then goes to 1.99% up to 75 months. 2.49% 76 months to 84 months. This of course depends on your credit rating. But we got pre-approved in minutes and the process is painless.
 

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Financing through Volvo

Just wanted to revive this thread. Anyone get good rates from Volvo through the dealer? Mine seeming to say they won't move off 2.9% posted rate for 5 years. Only financing 50% too.
 

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1.84% with 800 credit through the dealer who used TDbank. Financed about 65% for 60 months. Hope this helps.

M

Sent from my XT1060 using Tapatalk
 

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Initially was approved for the 1.49% with PenFed for 36 months. Told my dealer and they (through Chase) beat it at 1.29% for 48 months.

At that rate, I didn't want to put any more down than the $1k down when ordered.
 

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Your safest bet is have a quote before you walk in the door, and give the dealer a chance to beat it. BankRate.com will show you some rates, but the lowest rates I've seen lately have all been credit unions. The initial rate the dealer gave me was a full 2 points higher than the quote that I had in hand...once he saw it he beat it...through the same bank his initial offer was from. A dealer will often hold back on the rate to increase their profit.
 

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For the US auto financing industry, one suggestion is to ask the dealer to disclose the "buy" rate (v. the "contract" rate). The finance guy at the dealership may not do that, but the difference between the contract rate and the buy rate is the markup.

The two other key suggestions that I have read is: 1) Know your credit score before you walk into any creditor, and 2) Have a pre-approved bank or credit union quote - just like MKFlying7 said. Automatic payment should get you at least a 1/2 percentage point decrease. If you are buying a T8, some lenders also have a smartly, green discount of another 1/2 percentage point. As one prominent US federal banking regulator says, "Know Before You Go". http://www.consumerfinance.gov/askcfpb/search/?selected_facets=category_exact:auto-loans
 

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For the US auto financing industry, one suggestion is to ask the dealer to disclose the "buy" rate (v. the "contract" rate). The finance guy at the dealership may not do that, but the difference between the contract rate and the buy rate is the markup.

The two other key suggestions that I have read is: 1) Know your credit score before you walk into any creditor, and 2) Have a pre-approved bank or credit union quote - just like MKFlying7 said. Automatic payment should get you at least a 1/2 percentage point decrease. If you are buying a T8, some lenders also have a smartly, green discount of another 1/2 percentage point. As one prominent US federal banking regulator says, "Know Before You Go". http://www.consumerfinance.gov/askcfpb/search/?selected_facets=category_exact:auto-loans

Thanks a lot for the suggestions. Never had an issue before. I guess alway smore aggressive mfg. financing
 
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