Got a car loan for $9500 w/Chase at 12% and watched my EXP go from 602 to 626 - cool! Almost makes the whole slimy car dealer thing worthwhile.. almost. One nice trick they pulled was to add on the cost of a warranty ($1500), a lojack ($800) and some bogus insurance for $10 monthly. I told them I'd buy the warranty on my own time/terms, I didn't need insurance for payments and since the car already had lojack (it was used), I don't think I needed another one... ahem... My point is they put me through hell to get approved on what was supposed to be a $9500 loan but would have been $12k loan. For this, I screamed, I had to bust my balls to come up w/$2.5k down? No, they explained, these extras were "soft items" that could be added on to the original "hard" loan of $9500. ???---WTF--??? Anyway, today I'm happy I gained some points and got a decent loan w/a decent bank. But watch out for those slimy car dealers, funny moves and all.
find a credit union. The local one here just refi'd a friend to 5.6% APR on a 100% NADA book value loan, then put the rest on a 6.2% LOC (upside down). "i disputed those items because the balance is incorrect" lol works every time.
