daniel2304 wrote:I said I had excellent credit score. But all of mine are unsecured (credit cards). I want to have an installment loan to establish a strong credit profile.
In no way would I be able to truly answer your question unless I pulled your credit, but being in the car business I can give you some insight tied with an example.
.99 is most likely an incentivized rate, and as another poster mentioned, may have something attached to it (set up auto payments, use a "car buying service" (which is total bull to me)). The other way .99 is offered is through a manufactorer offering a low incentivized rate in lieu of cash rebate (normally around the same kind of discount, the financin just secures it with the bank backing the manufactorur).
As someone who has "excellent" credit but its a 1000 dollar CC or two (once again, I'm not trying to say this is your situation at all), you might have to start with a higher rate on a car and prove your worth the first, say, 12 months, then you can re-fi or be in market to qualify a higher, if not highest, tier (equates to lowest rates).
Brief example, I sold my neighbor a new Toyota Tundra. He was originally gonna pay cash for it (as he had done for everything prior, aside from his house next to mine), but I convinced him it was better to get some car credit on his profile. He was north of 700, but that was primarly due to his mortgage (he had no credit cards either). He didn't qualify for the best *auto* rates, granted it was still a single digit (7 or 8 I think) and within the year he paid off his loan (remember, he was gonna pay cash to begin with.) Going forward he's golden as responsible as he has proven to be.
Moral of the story, there is a such thing as "car credit," "House credit" and your credit, and while they are tied together they are also independant.