need HELP! with bank loan

[gkAeris]

hey,

i was just wondering, i just went to apply for a bank loan and the rate with TD canada trust is 6.5%

if i go to say CIBC does the rate changes with instutitions or do they stay the same?

[ZorroAMG]

They vary since they all want your business and are all competitive. Try asking the other big banks and compare for yourself.

[Khyron]

You have to go in and throw down the gauntlet. If you have good credit and a good job you can haggle for much better. Just as a guide, you can haggle for about 1 to 1.5 lower than ING (no-haggle)

If you do it over the phone or email they just quote you the peon shit rate.

Khyron

[ecstasy_civic]

My old rate was 16.5% until my dad went in and co-signed, dropped to 6.25%

[RSeXy]

Gail, why don't you apply for a student line of credit?? It is prime plus 1.

[roopi]

Originally posted by ecstasy_civic
My old rate was 16.5% until my dad went in and co-signed, dropped to 6.25%

that's like a credit card rate!

[gkAeris]

Originally posted by RSeXy
Gail, why don't you apply for a student line of credit?? It is prime plus 1.

and where is that? with the bank too?
i said that i was applying for a car loan, sorta......

[BigBearWest]

ask for a line of credit. 4.25% at TD

[gkAeris]

i did go to TD they quoted me 6.5%

[RSeXy]

Originally posted by gkAeris


and where is that? with the bank too?
i said that i was applying for a car loan, sorta......

Yes, you can get it through any bank. The interest rate is super low (prime + 1) and you can get up to 8G I think. This is all depending on yoru employment, you have to be a full-time student etc. Just call and set up an appt.

[hockeybronx]

I've heard banks can all be different.

Another thing, I don't know how persuasive you are, but a guy at my work went in there tearing the roof down and was able to argue to rate down.