I've seen advertisements as low as 6%, but the few I've actually applied for offer me around 13%. I guess the advertisements are to suck you in. So what should I be looking for?
2006-12-29 04:50:34 · 10 answers · asked by Hollie H 3 in Business & Finance ➔ Credit
The rate you will be charged depends on your credit score and credit report.
As you have found out, your credit is probably not good enough to qualify for the lowest rates.
Shop around. Banks usually offer lower rates than dealers or finance companies.
You can also shop online and might find better deals.
2006-12-29 04:56:02 · answer #1 · answered by Anonymous · 0⤊ 0⤋
6% interest is possible to get, but you must have a good credit score. If you are being offered around 13% your score credit score might be low. So, it really depends upon your score to determine a "normal" interest rate. If you have applied for a few loans getting similar results, you probably won't do much better. Also, be careful to apply for too many. Each inquiry that is made can lower your credit score. I think 13% is too high. I suggest either saving up to pay for a used car outright or wait till your score goes up.
2006-12-29 04:57:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
At this site you can find solutions from different companies: HTTP://HELP.MYLOANSRATES.NET
RE What's a "normal" amount for an interest rate for an auto loan?
I've seen advertisements as low as 6%, but the few I've actually applied for offer me around 13%. I guess the advertisements are to suck you in. So what should I be looking for?
2014-09-13 06:48:15 · answer #3 · answered by ? 1 · 0⤊ 4⤋
At http://www.SMARTFINANCESOLUTIONS.NET you can find the best rates for you
RE:What's a "normal" amount for an interest rate for an auto loan?
2014-07-24 09:07:33 · answer #4 · answered by Anonymous · 1⤊ 3⤋
depends on your credit and if the car is new or used. you'll get a lower rate on a new car, and sometimes some sweetheart deals on models that are slow moving that the manufacturer subsidizes to get them out of inventory. in general, with good credit, i'd look for about 7%.
2006-12-29 04:59:05 · answer #5 · answered by dwalkercpa 5 · 0⤊ 0⤋
Honey, don't go much higher than 6%. Most credit unions have the lower rates. Most FCU's are easy to join because they are always looking for members.
2006-12-29 05:02:58 · answer #6 · answered by dd 4 · 0⤊ 0⤋
It depends on your credit score.
NEVER GET A LOAN FROM A CAR DEALER (Car dealers make more from the loan then the car itself)
Go to a bank or credit union they will preapprove you and give you a better rate.
2006-12-29 05:01:35 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Get free rates
2015-01-27 19:00:34 · answer #8 · answered by Birch 1 · 0⤊ 0⤋
usually the interest rate is based on your credit report. People with very good credit get the lowest interest rates, etc. tec.
2006-12-30 17:20:02 · answer #9 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
Depends on your credit
2006-12-29 04:57:32 · answer #10 · answered by Anonymous · 0⤊ 1⤋