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I got a 2007 dodge durango...im good with the payments ($388) but is my interest too high? my credit is like 657 ..

2007-09-14 11:02:36 · 4 answers · asked by ProudMoM 2 in Cars & Transportation Buying & Selling

i mean 8.15%

2007-09-14 11:04:06 · update #1

4 answers

The only thing would be to ask other banks what they would charge you interest to refinance the loan.

Figure out the total cost of all payments and any other fees that you will encounter. If you find that you can get a cheaper loan then switch.

Some dealers are offering 0% loans on new cars, however with your FICO score, I don't know if you'd qualify.

Best bet however would be to inqure about interest rates with other financial companies.

good luck.

2007-09-14 11:13:51 · answer #1 · answered by Fordman 7 · 2 1

8% is about average right now depending upon how much money you put down and if you rolled any negative equity into the deal. Loan to Value has as much to do with interest rates as beacon score.

2007-09-14 13:35:56 · answer #2 · answered by jay bird 1 · 1 2

8% isn't too bad for a retail rate, especially with a sub 700 score. The factory may have sub-vented rates available that you may qualify for, check it out. Otherwise take the rebate, and use a credit union for financing. I've seen credit union rates around 5.5-5.9 lately.

2007-09-14 13:12:41 · answer #3 · answered by jay 7 · 1 1

I think it is, unless you have some credit history problems. I don't think an auto loan for someone with good credit should be any higher than 6.5%

2007-09-14 11:11:02 · answer #4 · answered by Anonymous · 0 2

I have also asked the same question 4 times, and didn't receive a proper answer

2016-08-24 15:58:40 · answer #5 · answered by Anonymous · 0 0

Don't buy a new car unless you are STUPID!

You pay too much, you lose loads of it inthe first week, more in the first year and the warranties are rubbish if you try to claim on them unless it a korean heap.

Buy something second hand. It's cheaper, someone else has fixed the problems, it won't depreciate (as much) and it won't get stolen when you leave it parked up.

2007-09-14 11:33:52 · answer #6 · answered by Doom 2 · 1 4

Interested in this

2016-07-30 03:11:10 · answer #7 · answered by ? 3 · 0 0

yes for a new car it is try finding someone with a credit score also above 650 to cosign you WILL qualify for 0% APR before you get another car

2007-09-14 11:10:11 · answer #8 · answered by Anonymous · 0 3

Shop around some more.. I think thats alittle high- especially with you credit rating

2007-09-14 11:10:29 · answer #9 · answered by DearAbby 5 · 0 3

Try a credit union. You may be able to get less than 5%.

2007-09-14 11:10:13 · answer #10 · answered by eddygordo19 6 · 0 4

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