My bank just approved me for an auto loan with an interest rate of 10.5. Is that a good interest rate for it being my first auto loan and my first new car? My credit is only a few points below excellent. Just wondering if I should keep shopping or if this is as good as it gets.
2006-11-21 09:22:20 · 10 answers · asked by tiger_lilly33186 3 in Business & Finance ➔ Credit
i assume by your bank you mean one you have checking and savings, etc.
you might ask the dealership you are buying it from if it is a new car if there are any special rates available on the model you have chosen to buy.
if not, ask them if they have any lender that can do any better.
good luck, Eric, general sales mgr for a Chrysler dealership.
2006-11-21 09:28:13 · answer #1 · answered by ericlexus69 2 · 0⤊ 0⤋
You should visit HTTP://HELP.CREDITVAULT.NET I am sure here you can find the best option for you
RE Is this a good APR?
My bank just approved me for an auto loan with an interest rate of 10.5. Is that a good interest rate for it being my first auto loan and my first new car? My credit is only a few points below excellent. Just wondering if I should keep shopping or if this is as good as it gets.
2014-09-13 15:50:14 · answer #2 · answered by Shlomo 1 · 0⤊ 0⤋
No - that rate is to high for a bank.
If your credit is ok - ask the dealership about a .0 apr loan - GMAC does this often.
The F&I man (Finance & Insurance) at the car dealership can shop bank deals for you, and probably get you a better rate. You can always walk away ... the F&I person will prob follow you to the car with a counter offer. ALSO - don't take any insurance products that you do NOT WANT.
Good luck.
2006-11-21 15:23:34 · answer #3 · answered by chey_one 3 · 0⤊ 0⤋
probally yes for the 1 car loan. you may want to see about a co-signer. if not take that 10.5 % pay on it for 6 months then refinance it you will be looking at 7% or so. shop around look at your options. and on that 6 months make sure to pay on time.
2006-11-21 10:14:21 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Find the best rates for people in your situation at: MYLOANSRATES.NET
2014-05-07 19:08:27 · answer #5 · answered by Anonymous · 0⤊ 0⤋
That's a pretty crummy rate right now, especially if this is a bank you regularly do business with.
2006-11-21 10:33:33 · answer #6 · answered by noname 2 · 0⤊ 0⤋
Hiya
check out www.moneyfacts.co.uk there are definitely cheaper rates then your bank!
2006-11-21 09:29:43 · answer #7 · answered by brown eyes 1 · 1⤊ 0⤋
At http://www.SMARTFINANCESOLUTIONS.NET you can find the best rates for you
RE:Is this a good APR?
2014-07-24 21:35:43 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Find best solutions
2015-01-28 05:38:40 · answer #9 · answered by Clifford 1 · 0⤊ 0⤋
10.5 is very good, you won't fine any better
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2006-11-21 10:08:15 · answer #10 · answered by Anonymous · 0⤊ 0⤋