Comments on: What is a reasonable interest rate for a used car loan? http://www.cargearusa.com/blog/what-is-a-reasonable-interest-rate-for-a-used-car-loan/ Mon, 21 May 2012 18:12:44 +0000 http://wordpress.org/?v=2.7 hourly 1 By: creditease http://www.cargearusa.com/blog/what-is-a-reasonable-interest-rate-for-a-used-car-loan/comment-page-1/#comment-7982 creditease Thu, 15 Oct 2009 05:46:37 +0000 http://www.cargearusa.com/blog/what-is-a-reasonable-interest-rate-for-a-used-car-loan/#comment-7982 A few factors come in play when one determined the rate for a car loan. The first a foremost would be your fico score. Most lenders use a tier system to grade loan risk. A second factor would be the term of the loan. A shorter term should hold lesser risk so a lower rate should be warranted. A third factor would be the loan to value ratio. Most lenders use NADA Guide as a rule. You can go to bankrate dot com and get a national average which one could compare to a local credit union, a great alternative to using the captive lenders used by the dealerships.<a href="http://www.promusicmall.com/gifts-12855"> creditease</a> A few factors come in play when one determined the rate for a car loan.
The first a foremost would be your fico score. Most lenders use a tier system to grade loan risk. A second factor would be the term of the loan. A shorter term should hold lesser risk so a lower rate should be warranted. A third factor would be the loan to value ratio. Most lenders use NADA Guide as a rule. You can go to bankrate dot com and get a national average which one could compare to a local credit union, a great alternative to using the captive lenders used by the dealerships. creditease

]]> By: Dan B http://www.cargearusa.com/blog/what-is-a-reasonable-interest-rate-for-a-used-car-loan/comment-page-1/#comment-7981 Dan B Wed, 14 Oct 2009 02:17:53 +0000 http://www.cargearusa.com/blog/what-is-a-reasonable-interest-rate-for-a-used-car-loan/#comment-7981 Your credit profile is a major factor that determines the interest you'll pay for a used car loan. Presuming your credit profile is better than most, you'll probably pay around 9% to 12%. If you finance through a car dealership (BAD MOVE!), you'll pay about 15%. Other factors are the age of the car and the lender you choose, length of the loan, etc. Always arrange your own financing through your bank or credit union.<a href="http://bestluggageshop.com/"> Dan B</a> Your credit profile is a major factor that determines the interest you’ll pay for a used car loan. Presuming your credit profile is better than most, you’ll probably pay around 9% to 12%. If you finance through a car dealership (BAD MOVE!), you’ll pay about 15%. Other factors are the age of the car and the lender you choose, length of the loan, etc.

Always arrange your own financing through your bank or credit union. Dan B

]]> By: BUD http://www.cargearusa.com/blog/what-is-a-reasonable-interest-rate-for-a-used-car-loan/comment-page-1/#comment-7980 BUD Mon, 12 Oct 2009 20:52:20 +0000 http://www.cargearusa.com/blog/what-is-a-reasonable-interest-rate-for-a-used-car-loan/#comment-7980 The newer it is the lower the rate.....if its like a 2000 model it would be about 7%......Again it just depends on other issues to.....Hope u get a good rate.......<a href="http://www.myislandholiday.com/south-padre-island-vacation-rental.htm"> BUD</a> The newer it is the lower the rate…..if its like a 2000 model it would be about 7%……Again it just depends on other issues to…..Hope u get a good rate……. BUD

]]>