It allows flexibility and the best of a lease and finance. I can make a balloon payment, refinance the remainder, or trade it in anytime.

The C7 also has a very good residual that you can check by VIN.

Sounds like a rent to buy.

I've used capital one auto financing a few times. Pre approve with them, then you are more or less a cash buyer when you walk in. Last time though gm had great rates.

Don't you have to go to one of their preferred dealers when you use them though?

yeah my credit isnt really the greatest so I dont know if theres going to be any pre-approval. honestly im just now in the black and absolved of all past debt. Im currently in the rebuilding process and one of the best ways to rebuild credit is to make a big purchase. Its good enough to get a loan, but not good enough to get the best of loans most likely.

Im going to check around at a few credit unions in the next week or so to see what kind of rates they offer since NJTorque mentioned to drive down that avenue, especially if they offer free Gap insurance programs...that would be killing two birds with one stone for me.

Anyone know about FORD/GM's policy on family/friend discounts? I remember back when I worked at Ford they had a pretty good policy but that was almost 8 years ago.

Just my opinion but purchasing a $55k+ vehicle at a terrible interest rate isn't the best way to build credit.

^^what he said

i never had a problem, bought 3 cars using it.

lol well its not in shambles. its just not spotless. no matter what I've resolved that im not going to get an amazing interest rate on any car I buy, but im willing to do the legwork to make sure I can choose the best option available. I've saved up quite a bit so I can knock that 55k down to 25k before I even talk to a bank about a loan, which should make things a lot easier to handle.

I appreciate the advice though and I'll still check into that Capital One plan to see if thats an option though.