5.9% interest rate

[Miss_Lanaya]

I was just on the Nissan website and there financing the 2009 a/c @ 2.9% for 60 months.... I am paying 5.9% on my 2008 so my question is, does anyone know how I would go about refinancing my car? Does anyone have any recommendations?

[DAAN.]

I believe you will have to break the contract and pay the penalty

Talk To Val at Stadium Nissan and ask him how can he help. Tell him Dan sent you.

[ShiftTab]

I got a 2.4 financing on mine. it was about 6.7 when I was going to sign by myself. I had to co-sign with my parents to get a lower quote... =/

I think our age and credit score plays a big role on it. (I think)

[legend_217]

Trade in for 09 and get your interest lower

[ShiftTab]

Trade in for 09 and get your interest lower

I don't think that would be a smart idea... go with what Dan says.

[Miss_Lanaya]

When I bought my car there was no haggling the cost since they were brand new and being bought up quicker than they could get them in, I dont think that my credit score had anything to do with it, I have really good credit. But I dont know maybe if I go in and talk with someone I could ask for the 2.9 and if they say no then I could throw out the idea of me just paying it outright with my line of credit they'd be smart to just lower it instead of loosing 4 years of interest (I was told that I would face no penalty if paid out before maturity)......who knows if that would work though. But thanks for the input guys

[Ferguson]

The dealers have no say in the interest rate. That is entirely done by Nissan. Nissan occasionally posts low rates to attract buyers - I got my 09 at 2.9%, which is way below bank rate. But don't bother discussing it with your dealer, you will need to talk with Nissan Canada Finance directly. The 2.9 rate is a promo offer - I doubt they will adjust your rate, but you can try! And, if you pay it off... is your line of credit sufficiently lower? If not, your monthly payments will likely go up - LOC monthly payments are usually based on a minimum percent of the balance owing (typically 3% of the outstanding balance) and not just a fixed rate over a term. If you still owe a good chunk of the car's value the LOC could end up being worse (in terms of monthly payments) than the 5.9 rate is (although the term may get smaller). Check it all out carefully.

[legend_217]

When I bought my car with a really high interest rate 7.5%. I asked my dealer is there anyway to low my interest. He told me that I can re-finance my car which means I can use the car for 6 months to 1 year and trade in for a new car, and a better interest without breaking any contract. He also stated my trade in value will not drop too much. Around 3k-4k depend on car condition. Check with your dealer, I believe they will work something out for you.

[Miss_Lanaya]

If I put it on my LOC yes...my payments could be worse, I was just going to use that as a bargaining tool Its worth a shot, the worst thing that could happen is they say no. Getting ahold of Nissan canada is a pain in the arse, But I'll try to phone them tomorrow.

[eight3six]

**** when I got my 07 my intrest rate through the dealer was 9.4%. I recently moved to washington and got a account at the local credit union. I put in a application there for a auto loan and got 5.3%, muuuuuch better. Shop around at local banks and credit unions and see what you can score.

[Blackmobile]

Those are some pretty damn high rates. When i got mine, the APR was 0.9% for 36 months, 1.9% 48 months and 2.9% for 60 months. I don't think there was any kind of promotion either.. Maybe i just got it from a dealership instead of a stealership

[Miss_Lanaya]

Well I just got off the phone with Nissan Canada and as I suspected they pretty much told me to go #uck off..... Im looking into getting a loan through the bank secured against a fixed asset (house), and since Im fed up with Nissan canada, even if I can get 5.5% I'll take it just to spite them. Although through TD bank it looks like I could do 4.5%. Id rather give the bank my interest, nissans services to me have been $hit since day one. I understand that they have promotions and cannot honor them to previous buyers but theyve already screwed me when I purchased the car (two weeks after I purchased they dropped the price of my vehicle by 2000 or 3000$) so ....its frustrating! sorry for ranting.

[NISMOT]

I got a 4.8% lol but 2.9 is nice

[eight3six]

Well I just got off the phone with Nissan Canada and as I suspected they pretty much told me to go #uck off..... Im looking into getting a loan through the bank secured against a fixed asset (house), and since Im fed up with Nissan canada, even if I can get 5.5% I'll take it just to spite them. Although through TD bank it looks like I could do 4.5%. Id rather give the bank my interest, nissans services to me have been $hit since day one. I understand that they have promotions and cannot honor them to previous buyers but theyve already screwed me when I purchased the car (two weeks after I purchased they dropped the price of my vehicle by 2000 or 3000$) so ....its frustrating! sorry for ranting.

Ha thats rough. I feel the same way though. Its like for the price I paid for my 3.5 SL I could have gotten a few different much better vehicles. O well you live you learn

[LinkNuc]

Well, its up to nissan if nissan is the lein holder. Most dealers will offer you a good rate if yo have a great credit score (the 0.0%, 0.9, 1.9)...but in reality they run your number through as many as 10 different credit institutions and offer you the best rate. The bank pays the dealer, you pay the bank....again that is if you don't get actual Nissan or GM or whatever financing. When I got my 350Z bestNissan could do was 5.9% through BOA or Citi, NIssan wanted 6.9%, I went to my Credit Union and got a 4.0%.

[eight3six]

Link, you go to west hills?

[LinkNuc]

Actually, I got the Z when I was living in NJ at Sherdian in New Castle, DE. Then I managed to get out of the shiathole that is The DE Valley and moved up to Hershey and got Titan at Faulkner in Harrisburg. Then I moved to (gulp) Cleveland and got the A/C at Sunnyside in Mentor/Willoughby.

I now live just down the road from West Hills, and that will likely be where I buy my next Nissan....I won't make the mistake of leaving Pittsburgh again.

9020!

You from the area? If so, you must hav loved the SuperBowl win being out in Seattle! They still whine and cry over it.

[Ferguson]

When i got mine, the APR was 0.9% for 36 months, 1.9% 48 months and 2.9% for 60 months.

Those have been common Nissan promo numbers for a while now. Some of the promos have lasted for a couple of months or longer. But usually, only select cars are eligible for the lowest rates - cars like the 3.5 coupe, 350Z, etc. are usually not available at the bottom rate. I could have had 1.9 over 36 months, but wanted the lower payments of the 2.9 over 60. Still, I saved 2% over the current bank rate.

....its frustrating! sorry for ranting.

It IS frustrating, especially if you can't afford to wait for a deal to come along. But it isn't just Nissan - they all work pretty much the same and I don't know any that will change the deal after the fact. If you can get 4.5% from TD, check it out - I have no prepayment penalty on my Nissan loan so you should be able to get a sweeter deal by refinancing at that rate. TD has usually been helpful to me.

[eight3six]

Actually, I got the Z when I was living in NJ at Sherdian in New Castle, DE. Then I managed to get out of the shiathole that is The DE Valley and moved up to Hershey and got Titan at Faulkner in Harrisburg. Then I moved to (gulp) Cleveland and got the A/C at Sunnyside in Mentor/Willoughby.

I now live just down the road from West Hills, and that will likely be where I buy my next Nissan....I won't make the mistake of leaving Pittsburgh again.

9020!

You from the area? If so, you must hav loved the SuperBowl win being out in Seattle! They still whine and cry over it.

Ahh nice. Yea i'm from carnegie, about 15 mins from west hills nissan. Just moved to Seattle and yes people are soooouuur ha. I bet the shops across the street love the terrible towl hanging in the window that shows the final score. But yea I got a 2006 and a 2007 altima through west hills. My mom got a 2007 altima through them as well. They always hooked it up with free oil changes and awsome service. Pretty decent with me price wise as well. And thats a variety of nissans, make the GTR the next one!

[beeristasty]

...but in reality they run your number through as many as 10 different credit institutions and offer you the best rate. The bank pays the dealer, you pay the bank....again that is if you don't get actual Nissan or GM or whatever financing. When I got my 350Z bestNissan could do was 5.9% through BOA or Citi, NIssan wanted 6.9%, I went to my Credit Union and got a 4.0%.

Just to note, when dealerships get financing that is not through the manufacturer's financing company (NMAC for Nissan), they typically add a percentage amount to pad their profit - so the dealership actually receives the loan amount and a small portion of the monthly payment.

[LinkNuc]

Not all banks, but good point, I failed to mention that. It depends whether or not they get the full amount from the bank immediately (can also depend on credit rating) and of course how Joey Cardude works with Johnbankerface in some areas if you know what I mean... But yeah, good point!

[LinkNuc]

Yeah, 836, GT-R is on my radar for sure...but, I gotta get into a new house in da 'burgh 1st...I want to live in Allegheny Co., but right across the border in Beaver Co may suit me better, PENS season tickets, OCD and Steelers Seasons sometime in the next decade (I hope, 8 years on the list so far) so I wanna stay within 15 mile radius of Dahn Tahn but I drive North of the Airport to work...so...

[eight3six]

Yea I hear that. I had a chance to get glass seat pens season tickets off my friend thats a season ticket holder. Just worked to much and never had the time to go. Although I did make it to a few pens games before I moved, so that was nice. And now that I have a 6 figure job, GTR is also on the radar for me eventually. That will be a glorious day!