Online Auto Loan Quotes?

[Lexdiamonds]

Does anyone know a good site for online auto loan quotes. My girlfriend wants to finance a Acura TL over 6 years so her payment is lower and the dealer will only go as far as 5 years. So we are trying to find another option for the 6 year finance. We are not part of a credit union and most of our local banks will finance the car only 5 years also. At least lexus does 6 years which is good. So if anyone has any info on this, it is greatly appreciated. thanks in advance.

[SW03ES]

Like I've said before, 6 year financing is not a good idea because you're going to be upside down on the loan, meaning you're going to owe more than the car is worth. If you need to finance a car for 6 years, you need to buy a cheaper car. The difference in payment isn't THAT Much (maybe $60) between 5 and 6 years. Its not worth it to save $60 and pay more in interest AND risk being upside down.

If you're looking for online quotes I'd reccomend www.capitaloneautofinance.com They do have a calculator but its kind of hard to find.

[Lexdiamonds]

Thanks again, i'm not sure why this topic was moved, i responded to it in the other section, thanks again.

[nc211]

I agree and disagree with SWO on the 6 year run. It depends on the loan balance and age of the car. If you want a 6 year car loan, I would scan your area for credit unions, they usually will go 6 years on newer cars (03-06). If you put down some equity on the car, the 6 year run won't be that bad, it will eat up some of that equity. But the key to this is to make sure you're with a lender that does not charge a prepayment penalty of any sort. You just pay a little extra each month which usually goes straight to the principal reduction on the loan. But that is common sense. Oddly enough, I recommend the 6 year loan if you can get it when you're buying a car towards the end of it's market value slide...aka....an older LS400 that is in the teen$. Since I work at a credit union, as an employee perk, I was able to get a 6 year loan on my 95 LS back in 2004. The payment is chump change, but since the car is so old, the depreciation and market value slide has pretty much come to a crawl. Oddly enough, I actually have equity in the car. Well, if you ignore all the freakin' money I've dumped into fixing it! :cries:

It's your call Lexdiamonds...Swo is right since it sounds like you're wanting to buy a car that is pretty new. Although an Acura will definetly last 6 years easily. But if you want a 6 year loan, then I would shop a credit union in your area. They have "loop holes" to give you membership...trust me...they do. They're called SEG's "Select Employee Groups". Your employer might be a SEG to a credit union, which means you are automatically eligable for membership. But if they're not a SEG, they have these other SEG types where their employee base is not actual employees, but rather club members...with an instant one time club membership fee of like $10. You join, and you're in the credit union.

And banks are mad at me for stealing their commercial loans...hahahaha...I'm going after their deposit base too!! Well, until next friday when I'm outta here for good! Off to much greener pastures....you know what they say, when you don't work for profit, don't expect to get any. You can take this 501c operation and shove it! I'm tired of being broke. Ok...ranting done...is it friday yet for cryin' out loud?!

[SW03ES]

Lex- It was moved because its not a model specific question and belongs in the general forum.

nc- Thats an excellent point, I was thinking of new and with little to no money down.

You moving on to another company or another business?

[nc211]

LYou moving on to another company or another business?

yeah man, pulled a george jefferson...movin' on up to the east side- style. sent you a pm...