Nissan 370Z Forum  

refinancing

just thought i'd share my experience refinancing the auto loan for the z. so i picked up my car in the beginning of august 2010, and i've had it for

Go Back   Nissan 370Z Forum > Nissan 370Z General Area > Nissan 370Z Pricing / Ordering Discussions


Reply
 
LinkBack Thread Tools Display Modes
Old 10-01-2010, 08:32 PM   #1 (permalink)
Enthusiast Member
 
butdamnbrian's Avatar
 
Join Date: Jul 2010
Location: bay area, ca
Posts: 254
Drives: the ladies wild
Rep Power: 14
butdamnbrian will become famous soon enough
Default refinancing

just thought i'd share my experience refinancing the auto loan for the z.

so i picked up my car in the beginning of august 2010, and i've had it for two months. i financed about 2/3 of the total price of the car. nissan's credit report established my credit score in the 750-850 range, but i was only offered a rate of 5.9% through nissan financing.

as other forum members have suggested, i did some research into refinancing the auto loan, and ended up going with safeamerica (a credit union that's well-established in the san francisco bay area).

i'm in the paperwork stage, and my new rate will be 3.49%. over the 60 month life of the loan, i'll be saving about $1500 total.

not bad at all.
butdamnbrian is offline   Reply With Quote
Old 10-01-2010, 08:37 PM   #2 (permalink)
A True Z Fanatic
 
FuszNissan's Avatar
 
Join Date: May 2009
Location: St. Louis
Posts: 14,275
Drives: Pure Sex
Rep Power: 541
FuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond reputeFuszNissan has a reputation beyond repute
Send a message via AIM to FuszNissan Send a message via Skype™ to FuszNissan
Default

So you reset the clock. How much did you finace this go around?
__________________
Mods: Too Many to list!
LouFuszNissan

ZDAYZ 2012
FuszNissan is offline   Reply With Quote
Old 10-02-2010, 02:52 AM   #3 (permalink)
Enthusiast Member
 
butdamnbrian's Avatar
 
Join Date: Jul 2010
Location: bay area, ca
Posts: 254
Drives: the ladies wild
Rep Power: 14
butdamnbrian will become famous soon enough
Default

the credit union will contact nissan directly for a pay-off quote, and then pay the exact amount (roughly 2/3 of my original out-the-door price). i won't even see a cut check
butdamnbrian is offline   Reply With Quote
Old 10-02-2010, 11:03 AM   #4 (permalink)
A True Z Fanatic
 
TongMan's Avatar
 
Join Date: Feb 2010
Location: NorCal
Posts: 1,297
Drives: 2013 Nissan GTR
Rep Power: 715
TongMan has a reputation beyond reputeTongMan has a reputation beyond reputeTongMan has a reputation beyond reputeTongMan has a reputation beyond reputeTongMan has a reputation beyond reputeTongMan has a reputation beyond reputeTongMan has a reputation beyond reputeTongMan has a reputation beyond reputeTongMan has a reputation beyond reputeTongMan has a reputation beyond reputeTongMan has a reputation beyond repute
Default

I also will be refinancing, but I'm going to wait a year until I do so. My current apr is 6.5%...ouch!
TongMan is offline   Reply With Quote
Old 10-02-2010, 11:40 AM   #5 (permalink)
A True Z Fanatic
 
flashburn's Avatar
 
Join Date: May 2009
Location: Central Florida
Posts: 1,884
Drives: '12 Corvette GS 6M
Rep Power: 18
flashburn is just really niceflashburn is just really niceflashburn is just really niceflashburn is just really niceflashburn is just really nice
Default

Has anyone with PenFed tried to do a refinance? Mine is at 3.99% but they do 2.99% now for new cars.
__________________
Current Ride: 2012 Chevrolet Corvette Grand Sport Centennial Edition Carbon Flash 6M
Previous Ride: 2009 Nissan 370Z Sport Platinum Graphite 7AT
flashburn is offline   Reply With Quote
Old 10-02-2010, 11:47 AM   #6 (permalink)
A True Z Fanatic
 
fuct's Avatar
 
Join Date: May 2009
Location: Sugar Land
Posts: 3,692
Drives: 97' Ranger :)
Rep Power: 23
fuct has much to be proud offuct has much to be proud offuct has much to be proud offuct has much to be proud offuct has much to be proud offuct has much to be proud offuct has much to be proud offuct has much to be proud offuct has much to be proud offuct has much to be proud of
Default

when you finance you pay a majority of the interest up front. more of each months payment goes to interest the first few years than the last few years. just a heads up.
fuct is offline   Reply With Quote
Old 10-02-2010, 11:58 AM   #7 (permalink)
A True Z Fanatic
 
flashburn's Avatar
 
Join Date: May 2009
Location: Central Florida
Posts: 1,884
Drives: '12 Corvette GS 6M
Rep Power: 18
flashburn is just really niceflashburn is just really niceflashburn is just really niceflashburn is just really niceflashburn is just really nice
Default

True, but a low enough interest rate would be enough to negate that.
__________________
Current Ride: 2012 Chevrolet Corvette Grand Sport Centennial Edition Carbon Flash 6M
Previous Ride: 2009 Nissan 370Z Sport Platinum Graphite 7AT
flashburn is offline   Reply With Quote
Old 10-02-2010, 12:02 PM   #8 (permalink)
A True Z Fanatic
 
Cell's Avatar
 
Join Date: Jan 2010
Location: Chicago
Posts: 1,449
Drives: A Garbage Truck
Rep Power: 21
Cell has a reputation beyond reputeCell has a reputation beyond reputeCell has a reputation beyond reputeCell has a reputation beyond reputeCell has a reputation beyond reputeCell has a reputation beyond reputeCell has a reputation beyond reputeCell has a reputation beyond reputeCell has a reputation beyond reputeCell has a reputation beyond reputeCell has a reputation beyond repute
Default

Why not go with penfed from the get go? I did and I am very happy with the 2.99% interest rate.
Cell is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 02:09 AM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.6.0 PL2