New and used car financing

[FraserB]

Looking to buy either a new or new to me SUV before the end of the year and it looks like the financing options have really changed lately.

Seeing nothing really at 0% (unless you go with a 36 month term) and the “specials” that are being shown don't seem all that great (5.99% for 84 months). Unless I'm missing something, it seems that putting the whole thing on a LOC at 4% is the best idea

Are rates and offers likely to change closer to the end of the year?

[max_boost]

yup. loc or heloc and negotiate the otd price including taxes.

[Xtrema]

Murano's can be had with 0%/60 Finance until Aug 31st for 2017 clear outs with $750 cash back from manufacturers. (EDIT: carried over for Sep)

Most of the new rate you see probably are for 2018s.

Everyone is anticipating BoC raising another 1/4% in Oct. So that will put even more pressure on rates, especially low margin products. I don't think Honda do anything less than 0.99% any more.

[ercchry]

Used rates from BMW beat that 4% LOC... I'd shop around a bit, if it's new enough banks will do secured financing

[shakalaka]

Depends on what you're looking at I guess. If whatever tickles your fancy does not have low rates then yea might as well go another route with better interest rates. But lots of vehicles out there with low interest rates I am sure. Look at outgoing models etc not brand new, refreshed ones.

[artieg30]

Interesting, I got my pre-owned 2013 335 at 1.9% financing through BMW FS. The rate IMO is good seeing as how most used car loans are around 4-5% interest, though i could be wrong?

[FraserB]

Depends on what you're looking at I guess. If whatever tickles your fancy does not have low rates then yea might as well go another route with better interest rates. But lots of vehicles out there with low interest rates I am sure. Look at outgoing models etc not brand new, refreshed ones.

That's what I was hoping for, some sort of incentive to take a 2017 when the 2018 models hit the lots.

Looking at Grand Cherokee Limiteds.

[03ozwhip]

ya my 2015 bmw is at 2.9...some of them were even at 1.9 but that was almost 2 months ago...