[Thebestgunrack]

My car got made on Monday, out for shipping but as far as I know sitting waiting for a ride east to Mass. I've been searching for the best rates and my bank can get me to 4% for 72 months. I am going to call the dealer today to see if they have anything close. Once I apply I have 60 days with that interest rate locked. Am I smart to lock it in now and hope my.car arrives in less than 60 days? The only other variable is if I sell my car on my own or trade it in. I'm hoping for a private sale soon. Thoughts on locking in my rate and how long shipping times are right now?

 

[furious70]

rates are not going down the next 60 days

 

[RB185AFM]

But they might go up.

rates are not going down the next 60 days

But they might go up.

 

[AJ's_BadKitty]

Was in a similar situation...managed to get 3.5% from my credit union...I would say lock it in while you can... HOWEVER...with the way things have been...some have waited months for their builds to be shipped and delivered. So safest bet...may be to wait till it is actually delivered.

 

[AJ's_BadKitty]

If you can get an "ok" rate...and suck it up until closer to holidays... you may be able to refinance through credit union later...generally, atleast with my credit union, they offer great rates around Nov/Dec.

 

[zaimer]

I'd lean towards locking in the rate now, and hoping the car is delivered within 60 days. Unfortunately, you really won't know... shipping time can be decent and it could also be over 2 months. I've seen cases of both.

Also, rates are nearly guaranteed to increase throughout the remainder of the year (at a minimum). We will see another 50 or 75 point increase in the next week or so. You just watch.

 

[OverTheTarget]

The way it was explained to me is if you do it now and sign everything if the car gets damaged or something you don’t like. Now go through your insurance just like it was your car. Not the dealership. You have no leverage it’s your car there only dropping it off the train prepping it and giving it to you. Other than defects or warranty of course. But IDK

 

[Thebestgunrack]

I wouldn't be signing anything with the dealer. I can reject the car right up until I sign the papers. The loan with my bank can actually be cancelled 30 days after closing as long as the check hasn't been cashed. Which gives me another 30 days of shipping time. I'm probably going to go apply for the loan to lock things down. As mentioned already, rates won't be going down anytime soon.

 

[zaimer]

The way it was explained to me is if you do it now and sign everything if the car gets damaged or something you don’t like. Now go through your insurance just like it was your car. Not the dealership. You have no leverage it’s your car there only dropping it off the train prepping it and giving it to you. Other than defects or warranty of course. But IDK

There’s a difference between finalizing your contract/funding the deal, and having pre approval for your loan. I would only recommend the latter. Never sign on a vehicle that you haven’t seen IMO.

 

[riddic99]

The way it was explained to me is if you do it now and sign everything if the car gets damaged or something you don’t like. Now go through your insurance just like it was your car. Not the dealership. You have no leverage it’s your car there only dropping it off the train prepping it and giving it to you. Other than defects or warranty of course. But IDK

Can you rephrase this in english?

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[Slowpoke387]

Lol your car got made? So it’s in the mob now…
Oh wait - built. My bad.

 

[NoScat]

My car got made on Monday, out for shipping but as far as I know sitting waiting for a ride east to Mass. I've been searching for the best rates and my bank can get me to 4% for 72 months. I am going to call the dealer today to see if they have anything close. Once I apply I have 60 days with that interest rate locked. Am I smart to lock it in now and hope my.car arrives in less than 60 days? The only other variable is if I sell my car on my own or trade it in. I'm hoping for a private sale soon. Thoughts on locking in my rate and how long shipping times are right now?

Lock in your rate. Some places offer locked rates that, if the rate goes down, it will reflect when you finalize the loan but will not increase.

 

[OverTheTarget]

You can lock in the rate., But don’t sign for the loan

 

[OverTheTarget]

Can you rephrase this in english?

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No, then you couldn’t be a child and make fun of it.