Interest Rate Used

[shiftkenny]

Can anyone share their interest Rates on Used MS? I'm in California San Diego more specific. Trying to see what people are getting.

 

[quickstrike12]

Usaa has offered me 2.9 on a used. I ended up going to a new car with 1.9 tho.

 

[jistone]

Usaa has offered me 2.9 on a used. I ended up going to a new car with 1.9 tho.

My used car rate is 3.24% for up to 60 months through a local credit union. They offer 1.9% on new cars. Rates in general are starting to rise.

 

[bhawkins4194]

DCU gave me 2.49 for used @ 65 months.

 

[shiftkenny]

DCU gave me 2.49 for used @ 65 months.

Oh perfect! Thanks for the info. I'll start looking at them. Do they have requirements?

 

[Greengolfer]

School's First Credit Union gave me a 2.49 % rate for my used P85. They gave me a choice of 60 or 72 months.

 

[Eevee]

We don't have a good credit union option but so we went with Lightstream which currently offers 3.9% - it's not a true auto loan, it's a personal loan.

 

[DMan]

got 4.15 through TD bank and Tesla financing. Probably could have got a little lower if I looked around more. I miss the 1.99-2.99% rates!

 

[gt2690b]

i got 0% by paying cash

 

[sorka]

I would have paid cash but I made tons more in the market buy investing that and paying 1% for my loan through DCU.

 

[sorka]

i got 0% by paying cash

If you bought 4 year ago when you could have paid 1% interest, you'd be at like -50% compared to the rest of the market.

 

[JosephReal]

I bought a CPO 2016 MS last week.
Tesla offered 3.8% for 60, 4.75 for 72.
I was able to get 3.6% for 72 through a credit union.

 

[gt2690b]

If you bought 4 year ago when you could have paid 1% interest, you'd be at like -50% compared to the rest of the market.

Huh?

 

[Keith909man]

Huh?

I think maybe what he’s trying to say is,
Since you bought cash, all that money upfront took a 50% lose because the car depreciated by 50% vs a loan where you are not putting that money upfront with the risk of losing half it’s value... at least that’s what I think he’s trying to say

 

[sorka]

What I'm saying is that if you paid cash rather than getting a 1% loan, you couldn't have invested that cash instead in the broad market 4 years ago and taken advantage of one the biggest bull runs of all time.

The cash I would have used to buy the car which I instead borrowed at 1% has grown 42% since June of 2015.

Which is a better rate of return. 1% or 42%

 

[Kuhz]

^ the general consensus is investing is risky. Having said that, I would’ve invested my life savings into TSLA in 2012 had I seen the future

Back on topic: expect to get 3-4% rate for used.

 

[sorka]

^ the general consensus is investing is risky. Having said that, I would’ve invested my life savings into TSLA in 2012 had I seen the future

Back on topic: expect to get 3-4% rate for used.

Not investing is 100% risky.

 

[gt2690b]

Not investing is 100% risky.

except i bought 6 months ago when investing that money would have actually lost me money in my portfolio.. glad i spent it instead

 

[sorka]

except i bought 6 months ago when investing that money would have actually lost me money in my portfolio.. glad i spent it instead

Investing is for the long haul. You're talking about specific timing of a specific instance. If you repeated this pattern over and over across your working years, you would have lost big time.

 

[gt2690b]

Investing is for the long haul. You're talking about specific timing of a specific instance. If you repeated this pattern over and over across your working years, you would have lost big time.

Thanks for the tip