2007-08-17 14:45:56 · 6 answers · asked by VH 2 in Business & Finance ➔ Credit
Probably not. Auto loan interest rates are more closely tied to the prime rate. There was talk today in the business media of a prime rate cut somtime close to or at the next Fed meeting in Sept. and that might cause a small decrease in auto loan rates. We shall see.
2007-08-17 14:58:22 · answer #1 · answered by Glen D 3 · 0⤊ 0⤋
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2016-09-27 22:52:38 · answer #2 · answered by Luella 3 · 0⤊ 0⤋
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RE Will today's Fed interest rate cut reduce the interest rates for auto loans?
#EANF#
2014-09-13 23:32:09 · answer #3 · answered by ? 1 · 0⤊ 0⤋
In a word, no. In fact, it should be a warning sign to you. They cut the discount rate, which is the rate that banks can borrow from the Fed, which means they are trying to ease the liquity problems some financial institutions are having. Since they are having problems, they will need to maintain their magins and charge you the same if not more for your car loan.
2007-08-17 14:59:35 · answer #4 · answered by fatcomo 2 · 1⤊ 0⤋
Will today's Fed interest rate cut reduce the interest rates for auto loans?
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2014-12-30 12:07:47 · answer #5 · answered by ? 1 · 0⤊ 0⤋
the reduced rate is for banks and not consumers. its not going to effect the rate the bank gives you a loan at. it effects the rate of interest the bank can borrow money at.
2007-08-17 14:54:15 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It's kinda like the price of gas. An increase seems to filter to the consumer immediately while a decrease never seem to take a very, very long time ... if ever.
2007-08-17 14:57:36 · answer #7 · answered by bdancer222 7 · 0⤊ 0⤋
Depending how it is funded, it could.
2007-08-17 14:53:29 · answer #8 · answered by Mike 6 · 0⤊ 0⤋