2006-06-06 07:16:40 · 4 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
For an AUTO Loan
2006-06-06 07:33:36 · update #1
The highest legal limit for an auto loan in new york is 24.99% This rate obvioulsy only applies to those who are the highest credit risk. If you can, try to avoid entering into a contract at that loan rate. A 60 month term on a $10,000 loan would be $293.45 per month, and the total interest would be $7,607.00! Of course if you must have/need the vehicle - well, that's why that loan is offered right?
2006-06-06 10:39:30 · answer #1 · answered by Betty&James 4 · 0⤊ 0⤋
What type of loan?! For a 'pay day' loan it can be up to 500% - the NY authorities are suing now the companies as they are not allowed to charge more than 16% ( i think).You might want to double check that though.I think in general the max can be 9-16 % ..not sure If it's Credit cards then things change....they go in the 20%'s
2006-06-06 07:31:00 · answer #2 · answered by ilfecoach 3 · 0⤊ 0⤋
I think it's 24.99. I'm not sure though. Credit cards can charge defualt rates of up to 29.99. I hope you don't take that kind of a loan, there are many other options available than to take a 25% loan.
2006-06-06 07:23:46 · answer #3 · answered by jay 7 · 0⤊ 0⤋
Try an out of state bank, submit your credit application online to several banks and see what happens.
2006-06-06 14:12:30 · answer #4 · answered by sfcjcl 5 · 0⤊ 0⤋