Credit Unions for car loans?

[rjl0206]

to all,

anyone have any experiences or opinions with them? around my area it is greater alliance credit union, I tried to go and get approved for a honda pilot but did so at 14% APR!!! OMG!!.. anywho, the guy at the dealership said try for a credit union as they are a bit more lax. just wanted everyone input.

Ray

PS: New pilot financed at 32K for 5 years @ 14% is what like $700+ per month? I dont think it would fly with the trustee, anyone else?

[rrockinggramma]

imo, to get a car with a credit union and THEN file for BK soon after would be the kiss of death with that credit union forever. But many cu in my area are offering special programs to get their members to buy more cars now.

[rjl0206]

If my attorney approves it should I just go ahead and take the financing at %14? that would come around to be like $686/month, this is with no co-signer as well, I would'nt be able to cramm down 5 months worth of depreciation when I file would I? thanks all

Ray

[catleg]

I had no luck with a credit union, but the GM dealer put in a loan app through their system which pings like 20 different banks, I got approved by a bank I never heard of before at a rate in the low teens, and the dealer bought it down a point and adding my wife brought it down another point or two. The second car was approved by Toyota Motor Credit at just under 10%. And our credit is really trashed, we weren't particularly late at the time but had through the roof utilizations.

Part of what convinced me to stop paying my cards was reading a message board and a guy mentioned that he had several chargeoffs on his credit...and his score was higher than mine at the time! So I said WTF am I paying these guys for.