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Car loan questions


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Hi everybody!! :)

Finally back from deployment and of course, I got some cash :D Actually, I've been saving up my money for a while because I wanted a nice car.

Anyway, I still need a little bit more for what I want (335i/G37/G35). I am considering getting a small loan from Navy Fed and then going to a dealership and talking them down by paying with cash.

Do banks have a minimum amount you have to borrow? And a minimum time? Cus all I want is about $10k and I could pay it back over the next year. But all I can find on Navy Fed is 20k over the next 36 months (at about 4.25% . . . is that good?)

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Also, the rates shown might be the best rate for their most qualified customers. So the rate will depend on your credit report. 4.25% isn't bad, the only way to do better would be to find a dealership offering better financing through a sale or something...once again, dependent on your score.

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