Hey guys, if you dont mind me asking, what is the lowest interest rate you've gotten approved for the s2k by Honda financial? I am debating if i should take out a loan from an outer source or through Honda. Thanks in advance.

 

I just went through that, so here is my experience:

I live in norcal and have an A credit rating, 750 range. The dealer quoted me 7.35 for 60 months, 7.69 for 72.

I went to my credit union and got 6.24 for 60, or 6.74 for 72 months. Needless to say I went with my credit union.

One thing dealers often do is pad the percentage rate they quote you. Which means they might get an authorization for 7.0% then tell you they will write the loan for 7.25%. They make a few more bucks off the finacing that way.

I think you are always better finding your own finacing.

 

which credit union was this? where can i get more info on it? Thanks.

 

im getting raped at like 8.1% right now. Im about to go thru my company's credit union to get a lower rate hopefully. I dont feel too bad because my friend is paying over 9% for his STi through BoA.

 

It's School's Credit Union

www.schools.org

 

That is crazy. Anything over 6.2 for 60 months with a 750+ is a rip off.

 

I agree with you excel.

The finance guy at the dealership was pissed at the price they sold the car for, so I think he was padding the finance rate so they could make something off it.

 

The way to go is to get a quote from your outside source before you go in to the dealer. The dealer will always try to get the loan for you. Let them know if they beat your best rate you will give it to them. Can't lose either way.

 

I just picked up my S2000 this past Sunday.

My FICO score is a 843, one dealer quoted me 9.74% on a 60 month purchase (dont ask me what they were thinking and NO i didnt buy the car from them). Went to another dealer and was given a 5.99% on a 60 month.

I got the 5 day option contract and am trying to find a better rate, so far i have not been able to do so.

 

I had a dealer try to give me a monthly payment of $699 for 60 months, I laughed and walked out. Figured it out to be about 11%. Ended up getting 6.29% from Chase.