Automobile Loans

Auto Loans

My wife is looking to buy a new car, and so we’re shopping around for auto loans.

When I bought my 2006 Toyota Corolla, Toyota was having a promotion and I landed 2.9% financing. The same dealership is now offering 7%, no thanks.

USAA

We called USAA, and they said they could offer 5.99%, a little better.

FIA Card Services / Bank of America

FIA Card Services is really Bank of America, and they are offering 6.04% according to their website.

Capital One

Capital One also has 5.99% car loan rates on new cars.

Credit Cards

While there are no doubt better deals on credit cards, the available credit won’t be as high, and it will also have a negative impact on our credit score, so no thanks.

Promotional Car Loan Rates

We’re hoping to find a promotional auto loan rate within the next few weeks. If I find anything good, I’ll post it here!

UPDATE:

We ended up going through Toyota Motor Credit Company (TMCC) as they were able to provide a slightly better rate and a faster turnaround. My wife got her new Toyota RAV4 in less than two days!