No—at Vibrant, we offer the same interest rates for all street-legal vehicles.

A good rule of thumb is not to spend more than 15% of your monthly take-home pay—and that includes your insurance, fuel, and parking as well as your loan payment.

The larger your down payment, the better—so if you have the cash to spare in addition to a vehicle you want to trade in, do both. You’ll not only reduce the amount of money you’ll owe but also make yourself more attractive to lenders and maybe even get a better rate.

If you’re at a dealership, here are some recommendations, starting at the most general and getting more strategic:

• Shop in fall and winter, when dealers want to make room for the next model year.
• Shop at the end of a month, a quarter, or a year—dealers have quotas to meet, and your purchase could make a big difference.
• Shop earlier in the week when dealerships are less busy. You’ll get more time and attention as you’re negotiating.
• Shop later in the day if possible. If it’s been a slow day, you may find the dealer more willing to negotiate.

While our lowest rates are limited to applicants with excellent credit, we also work with members whose credit needs improvement. A great way to see how your financial choices impact your credit score is to sign up for Vibrant online banking and use the free credit monitoring tool that comes with it.