GM Financial Advice? (2024)

• Auto purchase
• FICO Score versions

Not sure about GM, but I just got Tier 1 financing (0 percent) with Ford Motor Credit on similar scores.

My sense is that most car manufacturers are still having trouble selling cars, and they've relaxed their credit requirements somewhat as a result. Most manufacturers also take your history with them into account, so it would probably help if you've had a previous loans with GM.

In any case, the prospect of saving thousands of dollars over the life of your loan by going from 2.29% to 0% is definitely worth a hard pull!

0Kudos

@ridgebackpilotwrote:

Not sure about GM, but I just got Tier 1 financing (0 percent) with Ford Motor Credit on similar scores.

My sense is that most car manufacturers are still having trouble selling cars, and they've relaxed their credit requirements somewhat as a result. Most manufacturers also take your history with them into account, so it would probably help if you've had a previous loans with GM.

In any case, the prospect of saving thousands of dollars over the life of your loan by going from 2.29% to 0% is definitely worth a hard pull!

Thanks! I don't have a relationship with them, but good to know your data points! Appreciate the response.

0Kudos

@ridgebackpilotwrote:

Not sure about GM, but I just got Tier 1 financing (0 percent) with Ford Motor Credit on similar scores.

My sense is that most car manufacturers are still having trouble selling cars, and they've relaxed their credit requirements somewhat as a result. Most manufacturers also take your history with them into account, so it would probably help if you've had a previous loans with GM.

In any case, the prospect of saving thousands of dollars over the life of your loan by going from 2.29% to 0% is definitely worth a hard pull!

What bureau did Ford pull for you? Was also looking at the explorer on my end.

0Kudos

@CreditOnTheRise1wrote:

What bureau did Ford pull for you? Was also looking at the explorer on my end.

Between the dealership and Ford Motor Credit, they pulled all three bureaus.

0Kudos

I just bought a 2021 Chev Silverado. I am less than one yr BK discharged anny ( Feb. 2021). They ran my credit and got me JP Morgan Chase. My score was EQ 670. My total income is about $57K a yr but I also had a sizeable down payment. Problem is, if you want something specific, you will either have to order it and wait about 90 day turn around or expand the search. Had to to fly down to a dealership to get my truck. Reason is, with dealerships having difficulties in replacing sold vehicles, not many are willing to do dealer to dealer trades unless they can get an equal vehicle that they know they can sell. Which was my problem. As for GM Financial itself, odds are, they will run your credit and go with the one that gives you the lowest APR that matches your needs.

0Kudos

@Azuieldragowrote:

Had to to fly down to a dealership to get my truck. Reason is, with dealerships having difficulties in replacing sold vehicles, not many are willing to do dealer to dealer trades unless they can get an equal vehicle that they know they can sell. Which was my problem.

This is consistent with what I've seen an my local dealerships. Earlier discounts, rebates, and subsidized financing cleaned out a lot of inventory. Dealers are having trouble replacing that due to lower factory output stemming from the fact that auto manufacturers closed their plants for three months. So you may have to travel farther and negotiate harder to get the vehicle you want.

0Kudos

0Kudos

I just got a loan from GM financial on a new GMC Yukon for $84k at 84 months at 5% with $0 down