|
I made the judgment call to finance a small portion of the payment. Just to let everyone know some particulars, don't be surprised to have crazy rates thrown in your face.
Some quick facts: credit >800, financing 15k at 48months I was offered a rate of 5.6% including bank status perk
I was told if I financed less than 20k, the rates were actually higher so I'm paying more to finance at 15 than at 20-25k (obviously the bank wants to make money).
I previously have done business with CapitalOne, but the wrinkle here is they base financing off of cars that are currently for sale - there is a stop sale on our cars. This would present a lot of phone calls and headaches I don't need on day of collection.
As a consequence of the problems with CapitalOne, I'm electing to go with BoFA.
It's a really shitty time to finance anything, and I actually regret moving a bunch of money to CD's and investments now since I can't access funds without penalty. Ultimately I'll only be paying a couple thousand interest but on principle it's pissing me off.
Be prepared! Pay with cash if you can.
|