For those that did not finance with NISSAN, help please !

tonybui

So who did you finance with and the APR ??

If I finance with bank of america for example, do I ask them what's my monthly payment gonna be at the spot if I get approved ??

Do I get a check from bank of america and just give to the dealer after the car deal is done, not do anything with their finance ??

Please help me answers these, I wouldn't mind for some more helpful answers from your experiences, thanks guys !!!!!

PapoZalsa

Many banks you can get quote online and see your ballpark monthly payments. Also you can do your request for credit online which in some cases will give you a .25% less and/or Direct deposit another .25% less also, etc.

I got USAA with 5.9% APR.

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frost

I don't want to sound like a douche, but I dont think we are going to be able to help you much. The rate you get will completely depend on your own situation. I may get 6, you may get 10, and papo may get 20 (yes, it happens). Since we don't know what you would get approved for and we don't know how many years you would finance for, we cant possibly estimate your payment. Hell, we don't even know what model youre looking at, there is a 10 grand+ difference. Ya know?

AK370Z

I went with PedFed and have been VERY happy. You can read more about it here How I have scored invoice pricing with 3.99% APR on my 370Z?

As for your monthly payemnt, it depends on your finance rate and the amount you are borrowing.

Once you get approved, you simply take the check there and it's treated as CASH.

Here's a useful calculator that's aid you figuring out your monthly payment (once you know all the numbers)
Car Payment Estimates from carmax.com

Good luck

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Trips

good luck...

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tonybui

Now I havent been to any dealership so I wouldn't know the exact the number to finance. I already have some down payment of my own. Do I just mail them back the remaining ?? does it count that the remaining is my first payment ?? cuz I dont want my monthly payment to be too high because I borrow 32000 instead of 25000 (lets say I have 7000 of my own as down payment) Thanks again

I'm a noob at all this !!

dad

This won't help with the bank stuff, but it may help at the dealership.
Maintenance-Car bibles

Money Shot

It's a simple process, but first you would need the price of the car your are buying plus total taxes and registration fees. Once you have that amount, subtract your down payment (say $7k) from that total amount so you'll know how much money to borrow then contact the banks and credit unions to compare their rates. Pick the best rate available and submit an application as they'll look at your credit history to see if you will be approved.

Once the loan is approved, you'll know the APR rate and your monthly payments will then be calculated. They'll either give you the check in person or mail it to you. You then proceed to take the bank's check plus your own check (the $7k mentioned above) to the dealer and it will be treated as a cash deal at the dealership. You don't owe Nissan Financing anything but rather you'll make monthly payments to the bank or credit union that gave you the loan.

vipor

USAA had me pre-approved with 5.24%. The dealer ended up getting me 4.99% through Capital One. After having an issue with them already I kinda wish I'd just spent the extra 1/4 percent.

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tonybui

Thanks, you gave the best answer that I'm looking for. Appreciate it !!

STItoEVOX

haha i was also wondering the exact process. thanks for the complete rundown Money Shot.

i usually try to get financing while im at the dealer.

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z man

Do your research online or in person for the model Z priced with the options you want. Get your pre-approval from a bank or credit union (credit unions can normally provide a better interest rate), prior to negotiating the deal. Utilize a loan calculator to determine the actual cost and your monthly payment desired.

Once you have been pre-approved, you will be provided an approximate interest rate, and the amount of money you have been conditionally approved for. Meet with the dealer, negotiate the deal closest if not less to, the amount you actually want financed and if satisfied, ink the papers.

When the dealer ask to shop for your financing, allow them to search, but never reveal what interest rate you have previously been approved for. If they can find a better rate, and you are pleased with the company offering financing, ask for part of the kickback that the dealer will get back from the finance company.

I don't normally take possession of a vehicle until the car has been funded by the lender. Once possession is taken, the deal is binding and any chances of a refund is taken away in the event something goes wrong.