anthony710

Does anybody know if finance rates are suppose to go up or down over the next year? I'm asking b/c I'm planning on buying an RX8 in approx 8 months and would like to get a good rate.

I'm 25, make 34k a year, and when the time comes, I'll be putting 7k down. I know 34k/yr is not much for an RX8, so if 7k down is not enough, I'm willing to wait longer for a bigger down payment. My score is 770, so that should help.

Cam

iTrader: (1)

The Fed Reserve just upped the rate .25% a week ago or so, and the Feds meet again in late Sept (i think) and is expected to up the rate another quarter point. Beyond that, I dont know.

I wouldnt expect the rate to jump more than a percent to 1.5% in the next year or so. The economy just hasnt picked up enough yet.

You should still be able to get a good rate, probably close to 5% (or less) through a credit union.

anthony710

Thanks. I thought I heard something like that, but I was hoping I was wrong. I'm not part of a credit union, but I'm going to try to join one.
Waiting is the hardest part!

Cam

iTrader: (1)

I know how you feel (waiting part). Im getting my finances together as well. Im about 3 months away from purchase.

FYI- Joining a credit union is not hard. For instance, to join the Boeing Employees Credit Union, the only requirement is that I live in Washington state. Tough huh. Most are like that.

Or my girlfriend got her loan through King County Credit Union.
The requirement: open a savings account with a minium of $25.