BRONCOSRUL

I know probably a greater number of new Corvette purchaser's probably pay cash. I can afford a new Corvette but will have to get a loan. Looking at a new 2024 2LT. Anyone know who has the best rates? I am at 6% on my current C8 and recently got 5.99% on a new Silverado. The good old days of 0% or 1.9% are dead for now. Seems the foreign car market and Ford have good rates. My wife got 3.9% through Honda. GM has near the same for 36 months, but that payment is like a mortgage payment for 3 years.

Corvette03051

There are plenty of threads pertaining to the wisdom of financing a vette. I’d read them and after you do so you may change your mind. If the economy goes south your whole family could join in the journey. Listen to the older generation on this one. Then decide!! I have a bridge to sell if you want one. Lol 😂

JerryU

Interest rates are what is causing the step decrease in C8 Demand! Not likely to change until they came down. Won't happen IMO until we stop squandering money on foolish Only EV cars, No Natural Gas energy policy.

Easy, smart solution. We've significantly cut CO2 emissions by changing from coal produced electricity to Natural Gas. We're now ~16% coal produced from >50% in 2000. It's declining rapidly and natural gas produces ~half the CO2/BTU than coal. We can become energy independent and a major exporter of energy bringing a lot of money into the US economy. Also places like Europe don't have to buy natural gas from an adversary as they do now!

Danno1

Contact Dave Ramsey Show. Dave has all the answers, directly from the Bible! 😂

Semifighter18

Navy Federal seems to be the best with 4.54%, though you have to be military (active or retired) for that. Otherwise it looks like 6% is about the average.........

23cpe3lt

72/5.81 Bank of America

camelhead

Two people with three car loan payments every 30 days. Wow.

camelhead

On a 100K loan which could easily be seen on a vehicle costing well over 6 figures yields a $1650 monthly payment where nearly $500 is interest which is just crazy. $19,000 total interest over the course of the loan. Good grief, economic suicide.

JerryU

^^^^
Oh, if we continue on our current spending pace, could get worse! Yep in early 1980s interest rates on homes was 17%. We were "Soo Luckly" to find a home with an assumable loan at ONLY 14%! Car interest rates were ~16%!

BRONCOSRUL

Bought a new Chevy Silverado on Monday. Gm Financial rates ranged from 1.9% 36 months through 5.9% for 72 or 84 months. Also had $3000 in rebates but you could not get both the rebate and those rates through GM Financial. Took the rebates and got 5.99% through Bank of America.

mtraylor2001

Yeah Navy Federal seems the best as stated at 4.54 36month. If you borrowed 50k, that would cost you $3577 in interest over the loan. If you bumped it to 48 months that would cost you $5259 over the loan at 4.99%. You need top credit for that.

BigButtLover

If you have to get a loan, then you can’t afford it, like me, but I bought it anyway.

Chemdawg99

This is coming perilously close to being a political comment, which is prohibited. Just a friendly reminder.

Chemdawg99

Most people, the vast majority of people, buy things like houses and cars with loans and mortgages.

Very few of us can buy a car like this outright with cash.

If a person can afford the loan, then they can afford the car. Let’s not deflect from the OP’s question by making such statements.

Bob Paris

Thank you for adding the qualifier since I have seen dozens of posts in the past quoting low rates but failing to mention that not everyone qualifies. Heck, my grandparents lent me money interest-free to buy a car while in college but I didn't turn around and tell people that I got a car loan with zero interest, as if they could too.

jm74

I got mine through PenFed at around 6.5% for 72mos. I'll refinance when rates come down.

MelissaPeterss

If the economy goes south your whole family could join in the journey. Listen to the older generation on this one. Then decide!! I have a bridge to sell if you want one. Lol 😂

JohnStuttle

I have never finaced "toys" Not a good thing. Work on becoming debt free, it's a great life not owing anyone anything. Don't put your wants first. I know it's hard to do but you will be grateful in your later years. I have been totally debt free for over 20 years, no car payments and no mortgage. Best feeling ever. I have wanted a C8 since they came out but the crazy pricing did not make sense to me even though I could afford one. Now the market is normalizing and I plan on selling my C6 and buying a lightly used C8 HTC with cash. Good luck to you>

Bob Paris

My ‘22 Z51 HTC is a toy and instead of withdrawing the funds from a REIT that earns just shy of 8%, I financed the purchase price over 60 months at 1.99%. It would be fiscally unsound & foolish to do otherwise
.

JohnStuttle

Can you point me to that REIT?