What are some good interest rates for automobile financing these days? And some bad interests rates?
Shoe Maker asked:
Does anyone know what interest rates should be offered for good, fair and poor credit, when financing a vehicle?
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Does anyone know what interest rates should be offered for good, fair and poor credit, when financing a vehicle?
May 7th, 2010 at 4:22 am
If you have pretty good credit between 4-7% .The first car I ever baught with very little credit was 19% ouch!. But with some of the good deals these it is not uncommon to get 0% on new vehicals. My buddy has bad credit and he got 23%. Cooter
May 8th, 2010 at 12:05 pm
The interest rate depends on the length of the loan as much as is does your credit history. A short loan (24 - 36 months) will be lower interest than a long loan (60 - 72 months).
If you have very good credit you should be able to get 5% - 7% for 60 months. Anything above 10% is not very good. Anything above 15% is for poor credit situations. mccoyblues