Originally Posted by beenthere
wow maybe its where you live but in ND a loan is a loan and do what you want with it...i just got my loan today for 4.95% and 10 years on my '97 london aire.....i asked about F/T after reading this post a few days ago and they said WHAT... maybe local banks and credit unions are the way to go...i Never have banked at a bank that was national...never will either..always local owned....which we have lots of here..jeff
Are you saying the "WHAT" meant they would have given you an identical loan for full time?
That's how I'm reading it but want to be sure. Also was it a credit union or a independent bank? I do think credit unions are a different sort of animal but usually there is some connection between the members and the CU other than banking. I'm no expert on banks but thought they were all operating under the same or similar bank lending standards / rules and regs. Could be wrong on that but certainly a relationship with the lender would help, especially where full time is concerned.
Maybe it is a ND thing and worth looking into.
I think a lot of us research rates but let the dealer shop the loan then fight for rate either by calling our bank or another source or dickering with the dealer to get to where we want to be. Maybe we should always start with financing on our own and go in pre-qualified. I knew I was going to qualify by credit score, bank history and size of downpayment so I let the dealer do the work and it ended up my bank made the loan a 1/4 point lower than the offer dealer had even with their show discount. And I never spoke to the bank. I think it would have been different if I'd said full-time though.