Check you local credit unions too. I have two vehicles currently finaced at 3.99% for 60mo though mine.

 

this may not be the place to post this but...one caveat of peoplefirst (capitol one auto finance) is that they will not cover anything owed on a trade in...for example, if you owe a bank 10000 for your current truck but your dealer will only give you 8000 on trade in...you have to pay that 2000 somehow else, they wont let you tack the difference onto the cost of the new vehicle like a bank or credit union will...its in the FAQ on the peoplefirst.com website.

FYI

 

I bet you are right. I called Capital One and they told me I could put a note in with the application that Homeboundauto had a 3.79 rate and they would consider matching it. Your way may be the better route. I am still waiting on a build date from the dealer before I apply for financing.

Scott

 

Looks like they went up a little.. Peoplefirst will match and then beat by .05.. I got them to beat it by just saying I found the rate... I think they do verify it by checking the websites.. Peoplefirst is a great company.. Hopefully Capital One doesnt muck it up.. I wish I could have used them, but the check wasnt there and they beat the rate...

Good luck..
Cliff

 

3.69 up to 60 mos. and
4.69 up to 72 mos.


It's the Austin area IBM Employees Federal Credit Union.

 

I am going to a credit union near my home called Heritage Community Credit Union that has 3.49% for EVEN up to 72 months. My credit score is over 700, so I will qualify no problem. This is BY FAR, the cheapest rate I have seen.

 

I currently have a 2001 Harley Davidson FatBoy, that I purchased new, and financed through PeopleFirst (Now Capitol One) I also have a Capitol One Credit Card with a very high credit limit and maintain low balances. Since March 2001 I have had automatic bank drafting of the monthly payment on the motorcycle loan, therefore, never late. I filled out an on-line application for the 04 F-150 I currently have on order, as I did for the 2001 Harley, and I was denied credit. I have a slight ding in my credit report for which they obviously denied me. I own 2 homes and very little debt, in fact no debt, if I chose to pay the creditors off on a monthly bases. I earn in the very low 6 figures. I have great credit scores from all 3 Agencies even with the ding.

The interest rate I was applying for was: 4.99% for 72 Months
I would have asked for a lower rate had I been approved.

Note:
I've seen threads in this FABULOUS Forum questioning "why" anyone would want to take out a loan for 72 months (and for obvious reasons, which do make sense).
The reason I applied for a 72 Month loan is because the monthly payments are lower, BUT I also pay-down the principal balance each month. What does this do for me, you may ask? Well, with a lower monthly payment my monthly Debt to Income Ratio remains low, and because I "pay it down" every month, the loan term will be less than 60 months when I finally pay it off. Again, the reason for the 72 months is the Debt/Income Ratio. This is important if you plan on obtaining future credit. I plan to purchase a Condo as an investment in the next few months.

O.K. back to the financing of the 04 F-150 for which I pre-ordered on 7/16/2003 and still do not have a VIN# due to SCrew/Blazing Yellow combo.

I almost purchased the 2004 SCrew Blazing Yellow that has been on eBay because that it "exactly" what I ordered from the dealer, with the exception of the Bright Tubular Running Boards that I ordered. The one on eBay had Black Tubular Running Boards.
Close enough for me.

O.K. NOW I'm back to the Financing of this truck.
I filled out an on-line application at www.homeboundautoloans.com on Friday. They called me today to say that I was approved for 72 Months @ 5.1% (That's not bad).
Then he said I can give you a 66 Month for 4.1% (Now were talkin)!!!
These are better rates than I would have received a PeopleFirst (CapitolOne).

Morale of the story: Didn't really have one, but I'll put one out there in the name of Hope.

If you are having Financing issues, for whatever reason, don't give in to high rates just because you may have been denied credit from 1 or 2 sources. Keep looking!!!
By the way, I found Homebound AutoLoans on this Forum. So thanks to everyone who has submitted their own experiences with these Financial Institutions.