Quote:
Originally Posted by Rx-7ames
As far as I know you can always buy down your rate. The only time I have ever seen it done is when someone needs a zero percent loan for religious reasons. Otherwise I don't think it makes sense. You give the bank money right now so you don't have to give them as much money later. Just put more down and borrow less.
If someone wanted our HEA right now (or any car with an allocation) then we would pull credits and get them locked in at 5.58. If you don't want to get locked in now (or can't because you don't have an allocation like myself) then you are subject to whatever the rates are when your car or allocation gets here.
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I’m glad I got locked in, no markup, with the hike yesterday it’s only going up in the short term. I don’t see rates coming down anytime soon. I know car notes are tied to the Treasury and not the Fed but in practically it’s the same damn thing.