Long story short, when I purchased my 2014 CX-5 in July 2013 I got a pretty high interest rate. I justified it to myself by paying extra or making double payments. Now I'm getting offers to refinance my car loan to a lower rate but it can't be done because my model year is too new and used values have not been determined yet. This is annoying and I know it's because of the screwy way my car is a 2014 when it probably should have been a 2013.5!
When do you think Blue Book and NADA values will be available for used 2014's?
- Thread starter rubeninfl
- Start date
Thanks. I'm thinking the finance companies don't use edmunds though.
johnny_boy02
Member
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- Mazda CX-5 Touring
Is it possible to work with a local credit union and bring them examples of other vehicles for sale on craigslist and dealer websites?
If your payoff amount is less than the 2013's they might be able to go off of that since in theory a 2014 should be worth more?
What kind of rate are you paying and what is being offered? My credit is pretty meh and I just got a 3.49% loan.
If your payoff amount is less than the 2013's they might be able to go off of that since in theory a 2014 should be worth more?
What kind of rate are you paying and what is being offered? My credit is pretty meh and I just got a 3.49% loan.
IronMan0737
Member
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- 14.5 CX-5 GT AWD w/ Tech
I just got 1.9% for 72 months. 
Unheard of in my book. This is with a 700 credit rating, 16 months after being discharged from filing Chapter 7 bankruptcy - which was a no-asset case that wiped out $47K in credit debt.
This all said, I don't believe you can get a rate that low on a used vehicle.
Unheard of in my book. This is with a 700 credit rating, 16 months after being discharged from filing Chapter 7 bankruptcy - which was a no-asset case that wiped out $47K in credit debt. This all said, I don't believe you can get a rate that low on a used vehicle.
johnny_boy02
Member
- :
- Mazda CX-5 Touring
Nice! I'm still cleaning up my credit but it went from 525 to the 690's in the last couple years. The rate on my focus was 3.99 so baby steps I guess. BofA was offering used car rates starting at 2.99.
IronMan0737
Member
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- 14.5 CX-5 GT AWD w/ Tech
And the score alone isn't the biggest determining factor either. My score was the same when I bought my '08 Impreza, but I only made 2/3 of what I do now and I had a fairly high revolving balance. That translated to 7.9%.
LOL....I'd take 7.9% in a heartbeat!
