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Discussion Starter · #1 ·
Hey all,

Need some advice. This will be the first car I've ever financed. I do not want to go above $16,000 as I'd like to have enough in the bank to pay it off immediately if need be.

I see every bank advertising low interest rates, particularly my local credit union. I applied for financing, and they kicked back what I felt was a very high rate (6.79%) on a 2012 GTI. I have excellent credit (and history, just not automotive financing) and make a healthy amount. I went ahead to Carvana just to see what their financing was like, and received almost 10%!

Am I doing something wrong on the app? Or is this because it's my first financed car and there's no history to back that up?
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