2006-09-30 02:27:59 · 14 answers · asked by Bill H 1 in Cars & Transportation ➔ Buying & Selling
State Max. which will vary on length of loan and year of vehicle.
2006-09-30 02:53:33 · answer #1 · answered by Manny 6 · 0⤊ 0⤋
When I bought my first car, I didnt have any credit before and my score was about 575 range and I got a 15% interest rate, that was after 2 dealerships turned me down completely. My husband is a car salesman and I'm pretty sure they like you to have at least 2 or 3 credit things on ur report, like credit cards, other loans, etc. My sister went to get a car around that score also and her interest was 18%. So it can definitely range depending what ur credit report looks like. My best advice is go to a credit union, they're usually more lenient, and ask for a preapproval for a car loan. Thats how I did it.
2006-09-30 02:40:56 · answer #2 · answered by Jersey Girl 2 · 1⤊ 0⤋
I have been doing special finance for about 6 years. You could pay anywhere between 14.95 to 21.00 A lot of it depends on the year of the vehicle and the amount of down payment you have. I have seen a 575 get 8% on a new vehicle. They had $8000 down and the rebate was $4500. In most states the max you can pay on a new car is 18%.
2006-09-30 04:34:11 · answer #3 · answered by DAVID S 2 · 0⤊ 0⤋
It all depends on what bank you go through. you could get anywhere between a 25-10 % interest rate. Your score is not the only thing that finance departments look at. You could have good payment on a car loan and not so good on everything else. This would help you get a better rate. Good luck
2006-10-02 07:19:40 · answer #4 · answered by cargrl 3 · 0⤊ 0⤋
It depends on who you are buying from and if you have ever financed through that car dealership before. Right now I can tell you that you are not going to get a prime rate. Usually for that to happen you have to have around a 680 for that. You're not in totally bad shape, but depending on your down payment then you can know what kind of percentage they give you. Sorry can't give you a definite number, but that is the way credit works
2006-09-30 02:32:57 · answer #5 · answered by whackiejackies 3 · 0⤊ 0⤋
I do this for a living and I can tell you IF your credit is clean...no late....past due...collections..etc...You may still qualify for a hi prime rate...Most banks want to see 600 or more to qualify....obviously 650 and above is better. BUT...some banks will look at credit at 550 or above....and you may still qualify for a hi prime...(hi prime can be as hi as 13.5%)
Now....REGARDLESS of what your score is...even if you had a score of 700 (and I have seen this) it does NOT mean you qualify for a prime rate. What ever is on your credit report will be the deciding factor.
2006-09-30 04:33:27 · answer #6 · answered by B_Auto 2 · 0⤊ 0⤋
I would say between 18% and 21% keep up with your payments and You'll raise you score also
2006-09-30 04:46:37 · answer #7 · answered by ? 2 · 0⤊ 0⤋
Will vary with the lender and be high but never pay over 21% . . . buy a very cheap car & pay it off fast . . . wait to get a more expensive one until you get your credit clean.
2006-09-30 02:37:51 · answer #8 · answered by kate 7 · 0⤊ 0⤋
YOU are going to find it very difficult to purchase a new car with that kind of credit score -- you are subprime, your interest rate will be definitely above 18%, and I doubt whether you will be able to make the purchase you desire.
2006-09-30 02:36:54 · answer #9 · answered by sglmom 7 · 0⤊ 2⤋
it'll be what ever the max is for the state you live in...in MA it 23% so you should expect to see a % in that range for your credit score.
2006-09-30 02:49:43 · answer #10 · answered by Anonymous · 0⤊ 0⤋