Has anyone used People First to buy a car? I'm curious of your experience.. please share.. I was reading about that "Blank Check" deal they have and was curious to see if anyone here actually used it before...

 

Got my loan thru them and no complaints...yet. They seem to have the lowest rates so far. I'm qualified for 4.89% for 72 mos. USAA might get me a little lower, something like 4.69%. Either way, not too bad.

Do a search, I know a couple of others on this board are using them.

 

I see.. have you used the loan already or just holding the check until your car comes?

 

The cool thing about them is I'm pre-approved at this low rate and they'll hold the check for something like 90 days (you have to reconfirm after 45) at the rate I applied for. I even called them once to quickly redo my loan amount at a lower rate they offered. When my car comes in, I ask them to send the check and BAM! I drive off with my RX-8 with hopefully no issues.

 

Cool.. I read here that some dealers dont like these online loan check things.. I wonder how many dealers dont dig it..

 

I've gotten the "blank check" from Peoplefirst 3 times and actually used it once (the other two times the dealer gave me a better loan rate). It was easy, and it takes away some of the pressure when you're negotiating -- makes it much more difficult for the salesman to try to pull a fast one on you with the financing.

 

I'm not sure, but it would be awesome if my dealer can beat one the rates offered by People First or USAA. Maybe that's why they don't like it, it's more difficult for the dealer banks to beat.

 

I had a People First car loan. Best rates at the time and I had no problem at all with them. Set up auto draft no problem, worked flawlessly. Courteous on the phone. Payed it off early - no problem.

I think I had a "blank check" too.

If you like the rate, don't be afraid to use them.

 

I had a great experience with PeopleFirst.com. Very fast, very easy. My experience with them was with a used car. Your borrowing amount is based solely on your credit not what type of car your buying, so their great for cars that are worth more then blue book (i.e. collector or highly desirable cars).

 

Applied last night, got approved this morning, went thru Costco, you get .25% less. My rate is 4.04% for 5 years.

 

I'm reading you need to use the Automated Payment in order to get the lowest rate.. am I right?

 

Not sure, but we were planning on using auto payments anyway, its more practical.

 

do they tell you how much the monthly payment will be??

 

Yes, there is a calculator online.. the great thing about it is that you can request a bigger amount, say 35K, simply as a cushion because your loan will be only what you write the check for.

I hope it's as good as it looks..

 

Rate 4.04 %
Monthly Payment $553.04
Total of Payments $33,182.24
60 Months.

 

I assume that is with 0 down Nut?

 

People First dont ask for any down.. it's up to you.. if you do put a down that will be at your dealer.. in that case your loan amount would be less..

Basically they give you a blank check to do whatever you please.. check it out.. looks like a solid deal.

 

yeah i tried different amounts witht he calculator sounds liek a great deal. though i think i will still lease to get the lower monthly payment. but at least it gives me a good ball park fiugre and i think i will be able to afford it!

 

Yeah, I'm certianly going to go with PeopleFirst.com Thru Costco of course. Save that extra .25%

It a good thing to do, because it gives you something to deal with the Dealers financing. If the dealer can beat the financing then I'll probably use the dealer then.

 

Where at Costco do you save .25? I see the same rates at People First..

 

If you go to the website and click services you find it there, or you can just click this link.

http://www.peoplefirst.com/pff/landing_costco.cfm

If your an Executive Member you save .35%

 

Hmm.. that's where I went and see the same rates as People First site..

Also, I see Execs get .10 off.. not .35..


Hmm am I missing something?

 

Here are the current rates that are at People First.

37/60 month rate APR

4.29% / 4.04% =.25% savings

As you can see they are currently .25% higher at the people first website.

Also Costco Executive member do save .25%+.10% =.35% off the People First Website price.

Because the rates are .25% lower than the People First Website.

People First Rates

 

Oh I see what you mean.. the rate is 4.29 if u dont do it online and go mail/fax/phone.. Sorry all I saw was the 4.04 @ People First.. didnt bother to check the * note.

 

No, the rate is 4.29% if you go online with direct payment, it's 4.49% if you don't.

That's why if go thru the Costco/People First it's 4.04% if you go thru Costco online with direct payment.