Honda Pilot - Honda Pilot Forums banner

1 - 9 of 9 Posts

·
Registered
Joined
·
146 Posts
Discussion Starter #1
Based on my purchase experience in Bristol County, MA, I hope this helps someone else.

If you are an AAA member:

3.79% 36-60 month auto loans in Massachusetts counties: Barnstable, Bristol, Middlesex, Norfolk, Plymouth, or Suffolk. Lender is Rockland Federal Credit Union.

3.45% 36-60 month auto loans in all of Rhode Island. Not sure who the lender is.

I had originally applied for 4.49% at PeopleFirst, and locked in the rate for 45 days. I found that AAA offered a 3.79% rate and PeopleFirst reduced their rate to 3.74%. I ended up going with PeopleFirst since their Blank Check was more convenient than going to an AAA location for a closing.

After that, the dealer offered me 3.69%, but since they weren't willing to play ball on the price of the vehicle or accessories, I didn't think an additional credit inquiry on my credit report was worth a savings of about $41 over the course of the loan.
 

·
Registered
Joined
·
14 Posts
AAA

I don't see that rate on Peoplesfirst

Did the dealer take the blank check? Did they want to wait until it was cleared>?
 

·
Registered
Joined
·
146 Posts
Discussion Starter #3
Re: AAA

sadsam said:
I don't see that rate on Peoplesfirst

Did the dealer take the blank check? Did they want to wait until it was cleared>?
Weird, I still see the 4.49% at PeopleFirst.com.

When I spoke to the dealer "finance manager" on the phone, he implied that I was giving them a check from a shady lender. Apparently, the dealer called PeopleFirst and I guess they were satisfied since they let me drive away with the Pilot yesterday.

FWIW, I found PeopleFirst customer service to be very responsive. Less than an hour after I faxed them a copy of my rate quote from AAA, they emailed me back saying that they would beat that rate. I also sent them an email asking about what sort of verification the dealer would need to prove that I wasn't dealing with a shady lender. They quickly responded with an email asking me for the contact person at the dealer so they could call the dealer and take care of any concerns.

Dealing with PeopleFirst was the most pleasant part of this transaction. It was definitely better than the phony smiles, handshakes, and followup phone calls from the dealer's staff... :rolleyes:
 

·
Registered
Joined
·
496 Posts
Re: Re: AAA

MA_Pilot said:


When I spoke to the dealer "finance manager" on the phone, he implied that I was giving them a check from a shady lender.
From what I've heard/read, a lot of dealers say this hoping to convince you to use their financing. Some dealers have even refused to take a PF check (this isn't specific to Honda dealers, fyi)!

kad
 

·
Registered
Joined
·
146 Posts
Discussion Starter #5
Re: Re: Re: AAA

kadiir said:
From what I've heard/read, a lot of dealers say this hoping to convince you to use their financing. Some dealers have even refused to take a PF check (this isn't specific to Honda dealers, fyi)!
Yeah, that's what I thought this dealer was doing too... Since they wouldn't bend on the price of the vehicle or accessories, I wasn't about to take up more of my time (and fatten their wallets further) to save $0.68 per month on my car loan.
 

·
Registered
Joined
·
146 Posts
Discussion Starter #6
Update since AAA has raised rates and PeopleFirst has lowered rates:


AAA has:

3.99% 36-60 month auto loans in Massachusetts counties: Barnstable, Bristol, Middlesex, Norfolk, Plymouth, or Suffolk. Lender is Rockland Federal Credit Union.

3.45% 36-60 month auto loans in all of Rhode Island. Not sure who the lender is.


PeopleFirst is now at 4.25% for 37-60 month loans.


If you apply with PeopleFirst and they beat the AAA rate, you'll be at 3.94%.
 

·
Registered
Joined
·
146 Posts
Discussion Starter #8
Markedoc said:
You do not need to be a AAA member to get the 3.99% financing.

Do they offer a better rate for members?
Really?

Three weeks ago I had to provide my AAA membership number to finance with them...
 

·
Registered
Joined
·
4 Posts
MA_Pilot said:
Really?

Three weeks ago I had to provide my AAA membership number to finance with them...
I stand corrected. I called AAA and apparently their policy has changed. I had financed a previous car through them a few years ago and wasn't a member.
 
1 - 9 of 9 Posts
Top