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05-14-2008, 08:04 AM | #1 |
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Finance Rates
Hey was just wondering if anyones shopped around already at banks/financial institutions for better rates? Any lower quotes out there and what terms have people heard/ seen?
What places are good to go for car loans here in Canada? |
05-14-2008, 10:26 PM | #2 |
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I browsed the internet a little bit. seems like anything else would be prime plus at least 1, which puts you at 5.75... bmw has 5.9 so...
I talked to someone and they said that putting it into a line of credit was probably the best option if it secured onto prime. I'm gonna look into that.
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05-15-2008, 09:46 AM | #4 |
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A home equity loan is probably the best way to finance it. Mine is at 4.75 right now.
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05-15-2008, 10:27 PM | #5 |
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home equity loan... thanks guys
*sob sob* (I rent) so I probably won't be able to get anything better than the 5.9% bmw offers if I get an unsecured line of credit or loan or whatever form a bank, eh?
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05-16-2008, 10:02 PM | #6 |
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No. And remember, make sure you have a good credit score. 5.9% is for people with good credit score.
Also, it may be time to get into a house/condo within the next 12 months in Alberta after price settle a bit, to build some equity. Renting only make your landlord rich. |
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05-17-2008, 04:50 PM | #7 |
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I see. Yeah my credit score is quite healthy. The only concern, as I had said, is that they could see that I have ANOTHER car financed and maybe buck a little (oh gosh, I said buck).
I will buy a house next year.
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05-17-2008, 06:31 PM | #8 |
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The place I'm in is $1300 a month to rent. They sell for $475,000 to $550,000-- so I'm glad to be my landlord's bitch at that price gap.
Even on the low at $475,000 the mortgage payment would be $2800 a month, plus condo fees and city taxes... (so approx. $3400 by the time it's all said and done). Even without reinvesting that money, just the $25,000 savings alone seems fairly substantial to me. :biggrin:
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05-17-2008, 06:58 PM | #9 |
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you can kinda say the same thing again. but hey, we're going off topic
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05-20-2008, 11:26 PM | #10 | |
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