The credit unions around here are advertising 6.5% for new car loans.Would it help any not to finance through GM, but to bring your own financing to the table?

 

I figured that I would go through GM for now, and the way the fed's are dropping the rates, I will wait until they are really low and then refi it......that's if I do a regular loan....if I lease, well I'll have to see what the final numbers are.....The loan is gonna have a high payment....and I don't think I like that to much....but then again I own it.....I went high but here is an example:

Hummer Price: $44480.00
8% interest rate/ 72 month loan term
monthly payment: $786.19
interest paid in first 12 months: $3105.98
interest paid for 72 month loan: $11760.51

so like I said this is really high on everything, but it gives a good idea of how everything would figure out. So does anyone know how to figure out the lease payment based on $44480.00 at a rate of 4.6% and a residual value of 70%...????

 

Sorry, never had a lease and don't know how they calculate their voodoo math.

 

I really think GM is full of @#$$ with their financing sometimes. I have an older co-worker who tried to buy a new Saturn SUV. He literally had a 817 credit score (I saw it with my own eyes) and no debt and they told him he couldn't get the special 0% deal they had at the time. Maybe it was some quirk in the system, but who knows.

He ended up getting a(gulp) Prius.