this post was submitted on 05 Jul 2023
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Denver

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Credit union for car loans (self.denver)
submitted 1 year ago by _MoveSwiftly to c/denver
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I'm getting ready to purchase a sports car, and wanted to inquire credit unions with low interest rates for someone who has the cash, but wants a low interest rate loan because they can.

Who'd you recommend?

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[–] [email protected] 1 points 1 year ago (1 children)

6.9% on a used Audi Q8. And nice car, if you see a graphite grey Lotus Elise rolling around town, that's me!

[–] _MoveSwiftly 1 points 1 year ago (1 children)

Oof. That's a lot. I'd rather pay cash.

Do you go to any car meets? I'd love to join. :)

[–] [email protected] 1 points 1 year ago (1 children)

Yeah, that's the market at the moment - a little over a year ago you could get in the low 3% range and average used car rates are damn near 10% right now. Grabbed, even a CD is posting around 5-6% so a 1-2% delta isn't bad and over 5 years, putting that money in the market will yield a higher percent so it still makes sense to finance.

I used to go to the C&C up in Lafayette but it's been a while. You?

[–] _MoveSwiftly 2 points 1 year ago (1 children)

Thanks for the info. Guess I'll have to check myself and see, but at those percentages I prefer paying cash.

I haven't been to any car meets in here unfortunately, there isn't as much of a car scene here. :/

[–] [email protected] 1 points 1 year ago (1 children)

Yeah, I moved here from Atlanta and it was crazy going from mall parking lots filled with every exotic car you can imagine to a small lot with like 2 lambos, a couple McLarens, and a handful of Porches. People here seem to just get nice cars and don't care to show them off. I once ran into a group of ~30+ supercars in Evergreen and joined them for a bit of their drive. Talking to them, they just organize via Facebook and don't really do car shows

[–] _MoveSwiftly 2 points 1 year ago

Yeah there are luxury, classic cars, and low riders. I don't see car enthusiasts with lower budget vehicles, people who work on their own cars and go to road tracks. I used to live in MI and it was filled with that.