How I have scored invoice pricing with 3.99% APR on my 370Z?

martin82 · 11-16-2011, 02:33 PM

Exactly, They told me 5% also, I told them I'll get it somewhere else for 1.99%, dealer says if we can match that will you sign now!! Sneaky also! But I actually couldn't get 1.99% for 60 months! I lied to them too HAHAHA.

bluezed · 02-09-2012, 10:55 PM

Thanks for this thread. Without this thread, I wouldn't know about PenFed. Got approved with PenFed for 2.49% APR for 60 months and informed the dealer about it. Next thing I know dealer found a better one, 1.90% APR for 60 months!

B100 · 03-13-2012, 05:18 PM

Hey guys I just had a question regarding Penfed.

Has anyone been declined by Penfed? (If you don't mind sharing, could you state the reason why you got declined?)

I haven't applied for an auto loan with them yet, but I'm a bit hesitant to start. The reason I say this is because I've been declined twice, once at a dealership and once again at Chase.

The reason was because I have a short credit history. My credit otherwise is great and I have no dings or negatives on my credit report. The lenders stated that the only way I can get those loans is if I can get a co-signer, which unfortunately I am currently unable to..

I'm a full-time student and I calculated my budget/finances to see how much monthly payment I can afford comfortably (<5% APR or ~$540 monthly payment) on a base model Z.

TL;DR: Is Penfed more 'lenient' with loans or does anyone know a credit union who will loan even with a short credit history.

Thanks for your time!

martin82 · 03-13-2012, 06:47 PM

FYI Nissan is doing 0% right now, I believe I put like 5K down and $550 a month
If you are getting a base, I recommend the new leasing rates. I think its around 2K down and 300'is a month.

Ackrite · 03-17-2012, 05:36 AM

Quote:

Originally Posted by martin82

FYI Nissan is doing 0% right now, I believe I put like 5K down and $550 a month
If you are getting a base, I recommend the new leasing rates. I think its around 2K down and 300'is a month.

I took advantage of 0% also. 5k down $645/60 months for a nismo.

navamous · 03-17-2012, 11:10 AM

Interest rates are so low right now some great deals to be had.....

fairlady_z95 · 03-18-2012, 05:39 AM

Don't you still have to pay for borrowing the money, even if you got 0% APR. That just means they aren't making money off you from the interest, that is if you pay off the car in a timely manner.

FearlesLeader · 03-21-2012, 04:30 AM

I joined an FCU (non-DoD), and just got approved for 2.24%. Additionally, while i have a very good credit score (825), the only credit history i have is my emergency credit card which i haven't used at ALL in 5 years.

JoyZtik · 03-30-2012, 10:59 AM

Just got my 2012 370z Touring w/ sp with 0%apr 0 down

Shadezz · 05-11-2012, 08:00 AM

Leased a new 12 370z touring w/sport pkg

money factory was pretty good @ .00109

Remember if you have a nissan loan so long as you pay your payments good(12 months history) they will always give you the best tier 0 rates lease or purchase no matter your credit score!!

MacLean · 05-11-2012, 10:45 PM

Rookies............ The month of April was 0% interest for 60 months & 2.99% interest for 72 months. Follow & keep close tabs on what Nissan is offering.

Ronin06 · 05-17-2014, 12:11 AM

GTR Man: Wow 8 hours using your calculation becomes 80 hours.

You state at 5.74% interest he would only pay $1540 in interest. Not sure what you assumed he was financing, but assuming 10% down. His interest payment would be $7,241.

Hmmm... 8 hours @ $20 per hour = $160 of effort for saving $1,622 and the initial cost of the car was lower as well. Looks like he did pretty well, even using your inflated numbers.

370zEric · 06-09-2016, 09:31 AM

got 1.99% from 5% initial deal. I was originally going to go through my bank as I got pre approve for 2.99% 72 months but I got the car for such a good deal (literally a steal) along with the full 72 month warranty, processing the loan application was all my dealership could really get out of me. They offered a low APR even my bank could not match under their terms and condition hence I couldn't refuse.

GeoA(Atl)91tt · 03-02-2019, 10:10 AM

I'm wondering if Nissan will do it's traditional 0%, 0%, 0%, 0% soon to help get rid of the 2019s?

03-17-2012, 11:10 AM	#231 (permalink)
navamous Base Member Join Date: Mar 2010 Location: Bay Area, Ca Posts: 128 Drives: '10 370Z 6spd w/ SP Rep Power: 15	Interest rates are so low right now some great deals to be had..... __________________ 2010 Nissan 370Z w/ Sports Pkg

06-09-2016, 09:31 AM	#238 (permalink)
370zEric Base Member Join Date: May 2016 Location: Buena Park Age: 38 Posts: 25 Drives: 2016 370z Rep Power: 9	got 1.99% from 5% initial deal. I was originally going to go through my bank as I got pre approve for 2.99% 72 months but I got the car for such a good deal (literally a steal) along with the full 72 month warranty, processing the loan application was all my dealership could really get out of me. They offered a low APR even my bank could not match under their terms and condition hence I couldn't refuse. __________________ 2016 Magnetic Black- 6 speed

03-02-2019, 10:10 AM	#239 (permalink)
GeoA(Atl)91tt Base Member Join Date: Dec 2009 Location: Jacksons Gap, Alabama Posts: 27 Drives: 19 Black 370Z Nismo Rep Power: 16	Will history repeat itself with 0%? I'm wondering if Nissan will do it's traditional 0%, 0%, 0%, 0% soon to help get rid of the 2019s?

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11-16-2011, 02:33 PM	#226 (permalink)
martin82 A True Z Fanatic Join Date: Nov 2011 Location: los angeles Posts: 2,636 Drives: 12 Nissan 370Z MB M6 Rep Power: 20	Exactly, They told me 5% also, I told them I'll get it somewhere else for 1.99%, dealer says if we can match that will you sign now!! Sneaky also! But I actually couldn't get 1.99% for 60 months! I lied to them too HAHAHA.

02-09-2012, 10:55 PM	#227 (permalink)
bluezed Base Member Join Date: Jan 2012 Location: Bay Area, CA Posts: 60 Drives: 12 370Z MT/T/S/N Rep Power: 13	Thanks for this thread. Without this thread, I wouldn't know about PenFed. Got approved with PenFed for 2.49% APR for 60 months and informed the dealer about it. Next thing I know dealer found a better one, 1.90% APR for 60 months!

03-13-2012, 05:18 PM	#228 (permalink)
B100 Base Member Join Date: Mar 2012 Location: SoCal Posts: 8 Drives: 00 Toyota Celica Rep Power: 13	Hey guys I just had a question regarding Penfed. Has anyone been declined by Penfed? (If you don't mind sharing, could you state the reason why you got declined?) I haven't applied for an auto loan with them yet, but I'm a bit hesitant to start. The reason I say this is because I've been declined twice, once at a dealership and once again at Chase. The reason was because I have a short credit history. My credit otherwise is great and I have no dings or negatives on my credit report. The lenders stated that the only way I can get those loans is if I can get a co-signer, which unfortunately I am currently unable to.. I'm a full-time student and I calculated my budget/finances to see how much monthly payment I can afford comfortably (<5% APR or ~$540 monthly payment) on a base model Z. TL;DR: Is Penfed more 'lenient' with loans or does anyone know a credit union who will loan even with a short credit history. Thanks for your time!

03-13-2012, 06:47 PM	#229 (permalink)
martin82 A True Z Fanatic Join Date: Nov 2011 Location: los angeles Posts: 2,636 Drives: 12 Nissan 370Z MB M6 Rep Power: 20	FYI Nissan is doing 0% right now, I believe I put like 5K down and $550 a month If you are getting a base, I recommend the new leasing rates. I think its around 2K down and 300'is a month.

03-18-2012, 05:39 AM	#232 (permalink)
fairlady_z95 Base Member Join Date: Jan 2012 Location: Mountain View Posts: 52 Drives: 95 Z32 Rep Power: 545	Don't you still have to pay for borrowing the money, even if you got 0% APR. That just means they aren't making money off you from the interest, that is if you pay off the car in a timely manner.

03-21-2012, 04:30 AM	#233 (permalink)
FearlesLeader Base Member Join Date: Mar 2012 Location: Honolulu, HI Posts: 2 Drives: 2009 370z Rep Power: 13	I joined an FCU (non-DoD), and just got approved for 2.24%. Additionally, while i have a very good credit score (825), the only credit history i have is my emergency credit card which i haven't used at ALL in 5 years.

03-30-2012, 10:59 AM	#234 (permalink)
JoyZtik Base Member Join Date: Mar 2012 Location: Atlanta, GA Posts: 3 Drives: 2012 370z Touring SP Rep Power: 13	Just got my 2012 370z Touring w/ sp with 0%apr 0 down

05-11-2012, 08:00 AM	#235 (permalink)
Shadezz Track Member Join Date: May 2012 Location: Colorado Age: 43 Posts: 896 Drives: 2012 Nissan 370Z Rep Power: 14	Leased a new 12 370z touring w/sport pkg money factory was pretty good @ .00109 Remember if you have a nissan loan so long as you pay your payments good(12 months history) they will always give you the best tier 0 rates lease or purchase no matter your credit score!!

05-11-2012, 10:45 PM	#236 (permalink)
MacLean A True Z Fanatic Join Date: Apr 2012 Location: Houston Posts: 1,589 Drives: '12 GM Nismo # 0445 Rep Power: 16	Rookies............ The month of April was 0% interest for 60 months & 2.99% interest for 72 months. Follow & keep close tabs on what Nissan is offering.

05-17-2014, 12:11 AM	#237 (permalink)
Ronin06 Base Member Join Date: Mar 2014 Location: Urbandale, Iowa Posts: 87 Drives: 14 silver sport 370Z Rep Power: 11	GTR Man: Wow 8 hours using your calculation becomes 80 hours. You state at 5.74% interest he would only pay $1540 in interest. Not sure what you assumed he was financing, but assuming 10% down. His interest payment would be $7,241. Hmmm... 8 hours @ $20 per hour = $160 of effort for saving $1,622 and the initial cost of the car was lower as well. Looks like he did pretty well, even using your inflated numbers.