My husband and I have really good credit. What is a fair interest rate to pay for a 5 or 6 year car loan?
2007-05-25 10:42:03 · 3 answers · asked by NJ 4 in Cars & Transportation ➔ Buying & Selling
While I can't give you any specific rates, I will make this recommendation. If you're a member of any credit union go to them first. Most credit unions and banks will give you a better rate than the car dealership. Also keep in mind that the depreciation on a new car will leave you owing more than it's worth toward the end of a 5 year loan. You can save a lot of money by buying a used truck even one just 1 year old. Your new truck value will drop $1000s as soon as you drive off the lot.
"...So a brand-spanking-new car or truck loses thousands of dollars of value as soon as you drive it home. ..." *
Whatever you decide, I hope you enjoy the truck.
2007-05-25 11:05:02 · answer #1 · answered by Steven 4 · 0⤊ 0⤋
NJ-
The #1 selling truck for the past 30 years is a Ford F-series pick-up.
FMCC happens to be offering 0% financing for 60 mo.loans right now to people with good credit like yourself.
0% is about as fair as fair can be! If it were any fairer they'd be giving you the loan for FREE!
Oh wait.....THEY ARE !
(Don't sell yourself short & don't listen to the 'Ford vs Chevy' war mongers. Facts are Facts & opinions are opinions.
Ford vs Chevy...Foreign vs Domestic.....blah.....blah...blah...blah
go & compare- decide for yourself----)
But DO NOT pay interest on a 60 month loan whatever you decide !
oh yea, should you decide to buy a "Ford Certified Pre-Owned" , FMCC (again ) offers 4.9% for 60 months !
2007-05-25 11:56:49 · answer #2 · answered by Vicky 7 · 1⤊ 0⤋
check www.bankrate.com, also lending tree dot com will give you four offers for no charge.
2007-05-25 10:57:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋