Welcome to the Cadillac V-Series Forums!

What APR did the dealer offer you?

shiftdown

shiftdown

Seasoned Member
Joined
Nov 16, 2021
Messages
238
Location
Seattle
V-Series Cadillac(s)?
'22 CT4 BW, '98 Lancer Evo5
On my previous C8, I went through the dealer initially to finance. I ended up with a 3.7% rate they farmed out to US Bank. I'm sure that includes .5% or so dealer add on. I've heard people have obtained some killer rates through GM Financial on other models.

My car is at 4B00 now, so I'm starting to look around for what's going go be the best bet. Inclined to put about 50% down for now. My own credit union has offered me 2.59% which is livable should nothing better come up.

Purchasing through Sewell, so if you have direct experience, that would be awesome. Not applicable to Military type credit unions or anything that would take special requirements. Just your regular jackass off the street :)

So, if you financed, what did you end up with for an interest rate?
 

Attachments

  • 274723211_10220725682753353_7902702456232620915_n.jpg
    274723211_10220725682753353_7902702456232620915_n.jpg
    84.4 KB · Views: 276
Sort by date Sort by votes
Elitedax3 said:
That's more than doubled. That's exactly what I'm afraid of. That's a huge difference
Click to expand...
I think by the time my car arrives, interest rates will be at or near 5%. At that point, I'll have to see how comfortable I am paying thousands above what I originally planned to pay. Hopefully GM steps in to offer financing deals on the Blackwings in the face of all these big and fast interest rate increases. The fed have already said it'll be a %0.5 increase every time they meet for the rest of the year. I'm on track to hit the next 2 increases.
 
Upvote 0 Downvote
SOP said:
I think by the time my car arrives, interest rates will be at or near 5%. At that point, I'll have to see how comfortable I am paying thousands above what I originally planned to pay. Hopefully GM steps in to offer financing deals on the Blackwings in the face of all these big and fast interest rate increases. The fed have already said it'll be a %0.5 increase every time they meet for the rest of the year. I'm on track to hit the next 2 increases.
Click to expand...
yeah I'm pissed that there is nothing available for blackwing owners for financing deals. Costco even had a $1,000 incentive that only excluded blackwings. I imagine there is still a rather good margin on these cars (or they would not be prioritizing them over other models). my rate lock expires on June 3rd, what are the odds that I get notified June 4th of my car arriving lol. My poor credit score has like 12 hard pulls for pre approvals over the past 4 months as I tried locking in rates knowing they were going to keep going up..
 
Upvote 0 Downvote
jonnywaffles11 said:
yeah I'm pissed that there is nothing available for blackwing owners for financing deals. Costco even had a $1,000 incentive that only excluded blackwings. I imagine there is still a rather good margin on these cars (or they would not be prioritizing them over other models). my rate lock expires on June 3rd, what are the odds that I get notified June 4th of my car arriving lol. My poor credit score has like 12 hard pulls for pre approvals over the past 4 months as I tried locking in rates knowing they were going to keep going up..
Click to expand...
I'm not going to lock in a rate until it shows movement out of the lot of doom(if they haven't cleared the backlog in a couple months) to prevent my pristine credit getting dinged to hell. 2-2.5% interest rate is a done deal. At 5%, I really don't think I'm going to do that so whether or not I actually take delivery will depend on whether I can secure a low interest rate.
 
Upvote 0 Downvote
I am hoping putting an extra $2k down instead of the $20k I had planned will offset the rate increases. I spent 6 months selling a specific monthly payment to my wife to be ok with having THREE specialty vehicles for myself that she can't drive lol.
 
Upvote 0 Downvote
SOP said:
I'm not going to lock in a rate until it shows movement out of the lot of doom(if they haven't cleared the backlog in a couple months) to prevent my pristine credit getting dinged to hell. 2-2.5% interest rate is a done deal. At 5%, I really don't think I'm going to do that so whether or not I actually take delivery will depend on whether I can secure a low interest rate.
Click to expand...
Yeah, I'm semi in the same boat. I dont know if a stupid interest rate would keep me from buying the car, it just means I have to put down more money, which I can, but prefer not to. Again, all of this is penalizing us simply due to the vehicles taking so long to get delivered
 
Upvote 0 Downvote
Elitedax3 said:
Yeah, I'm semi in the same boat. I dont know if a stupid interest rate would keep me from buying the car, it just means I have to put down more money, which I can, but prefer not to. Again, all of this is penalizing us simply due to the vehicles taking so long to get delivered
Click to expand...
I've said in another thread, people waiting before didn't really cost them money. I could say that for any previous years because of how cheap money was to borrow. This year however, every month or so delay adds hundreds of dollars to additional financing costs. My other option is to use the large down payment I was going to use for the 4BW into paying cash for a lesser performance car. 4BW is a fantastic car, but I'm not exactly in love with it's engine so it's not an absolute must-have car for me.
 
Upvote 0 Downvote
SOP said:
I've said in another thread, people waiting before didn't really cost them money. I could say that for any previous years because of how cheap money was to borrow. This year however, every month or so delay adds hundreds of dollars to additional financing costs. My other option is to use the large down payment I was going to use for the 4BW into paying cash for a lesser performance car. 4BW is a fantastic car, but I'm not exactly in love with it's engine so it's not an absolute must-have car for me.
Click to expand...
My car fund is down 5 figures from when I placed the order. Debating whether to just pay the markup now before I won't be able to afford a Civic. The delays have literally been reducing my buying power.
 
Upvote 0 Downvote
xeerohour said:
My local bank and the dealership both offered me 3.5% today. Luckily I had applied through capital one a few weeks ago and it was still valid at 2.7.
Click to expand...
I had my pre-approval with Capital One also and also had the 2.7% but it expired for me on May 3rd. When does your CapOne expire?
Now it's over 3% for the same term for me since I had to update my pre-approval. That's why I'm trying to just finalize all the financing now with my dealer even before the car arrives because I don't want to have a shittier deal due to the stupid rates increasing.
 
Upvote 0 Downvote
668LT4 said:
I never asked. Wire transfer to the dealer and done. I'm sure most everyone will say that is stupid, I could earn more on the money than the rate would cost me. I just hate loans of any kind and mentally prefer not having one.
Click to expand...
Same. Though the more this market gets depressed, the more I'm considering financing.
 
Upvote 0 Downvote
Another small revival post...squared up my financing yesterday since my car arrived and thought I'd share that i secured my rate with CapOne at 3.01% for anything 48-75 months or 3.83 for 84 months. I went with the 84 months.

This is based on $30k down. So my LTV was lower but you can play with the numbers on CapOne Auto Navigator if you want to adjust your down payment to see the rate changes.
 
Upvote 0 Downvote
I'm paying my first payment to penfed in 2 weeks to get a 2.54% rate.... Car will hopefully be here in 3 weeks. Everything else I have locked in is at over 3 right now.. what a fantastic time to be car shopping. Thanks cadillac
 
Upvote 0 Downvote
jonnywaffles11 said:
I'm paying my first payment to penfed in 2 weeks to get a 2.54% rate.... Car will hopefully be here in 3 weeks. Everything else I have locked in is at over 3 right now.. what a fantastic time to be car shopping. Thanks cadillac
Click to expand...
How does this work if for some reason the car arrives in unacceptable condition. What happens to payments made? Is the loan just cancelled and payments refunded?
 
Upvote 0 Downvote
SOP said:
How does this work if for some reason the car arrives in unacceptable condition. What happens to payments made? Is the loan just cancelled and payments refunded?
Click to expand...
Yeah basically they mail me a check that I hand to the dealer. I'll make payments prior to actually getting the car and if I don't proceed with picking up the car for whatever reason, the check was never cashed and the loan will be cancelled and all payments refunded. I was super hesitant as well but called them to talk through everything. Annoying but I'd rather have the lower interest rate
 
Upvote 0 Downvote
You must log in or register to reply here.

Similar threads

U
Dealer loyalty not what it used to be.
2
Replies
22
Views
2K
Utryd
U
thefleshrocket
I had my new 5BW shipped to me. What did I miss at the dealer?
2
Replies
22
Views
2K
FLYARMY
FLYARMY

Win 2 Supercharged Cadillacs!

Win both supercharged Cadillac Vs!

Supporting Vendors

Exhibitions of Speed

Signature Wheels

V-Series Marketplace

Advertise with the Cadillac V-Net!

Torque Shop

Our Partners

Back
Top Bottom