I don’t know what you mean by financial missteps or what the means for your current credit scores.
The additional incentives come two ways, often a well below market rate (0.0, 1.9, etc) using the manufacturers leading arm. Second is dealers willing to give a price break on the vehicle while making up their profit through lender rebates. This happens typically when they place you in a loan at a rate slightly higher than the lowest you potentially can get.
In both cases this depends on being “well qualified borrowers”. Often that translates to credit scores >750 (some times 790).
So you can try to negotiate the best deal using financing as your leverage. But if your credit scores aren’t currently top notch I wouldn’t expect some remarkable real.
Last, if you want to repair your credit, the best option is to responsibly use credit. Buying a car, financing a small amount ($10-$15k) for 36 months is an excellent way to show responsible credit utilization and will help improve scores.
The additional incentives come two ways, often a well below market rate (0.0, 1.9, etc) using the manufacturers leading arm. Second is dealers willing to give a price break on the vehicle while making up their profit through lender rebates. This happens typically when they place you in a loan at a rate slightly higher than the lowest you potentially can get.
In both cases this depends on being “well qualified borrowers”. Often that translates to credit scores >750 (some times 790).
So you can try to negotiate the best deal using financing as your leverage. But if your credit scores aren’t currently top notch I wouldn’t expect some remarkable real.
Last, if you want to repair your credit, the best option is to responsibly use credit. Buying a car, financing a small amount ($10-$15k) for 36 months is an excellent way to show responsible credit utilization and will help improve scores.
Statistics: Posted by DoubleComma — Wed Jan 29, 2025 9:44 pm — Replies 6 — Views 524