Sunday Auto Market

4 Responses to “What is a reasonable interest rate for a used car loan?”

1. By en camera on Jul 17, 2008

   Sólo hizo un automóvil usado préstamo a un banco local en un 8,5%. Los concesionarios pueden ser diferentes. A veces uso una baja tasa de hacerle comprar, pero mantener el precio más elevado para compensar.

2. By fencepro on Jul 20, 2008

   Pre-arrange your financing before you find the car. Dealerships make alot to money from the financing. Let’s say the call back or approval from a bank is 7 percent…they contract the deal at 10 percent and the bank gives them the extra money…but, I think you already know that. You can also be preapproved online (Road Loans is one source and there are others), they will send you a draft that you take to any participating dealer and it is as good as cash. Take the dealer out of your finances and you will be the one that wins. Also, be careful of expensive extended warranties, shop those online also if you are interested in them, prior to finalizing any deal. Good luck!

3. By Bryan C on Jul 22, 2008

   Mi promedio de crédito me consiguió un 8% hace unos años.   Pero la Fed.Res. sólo se redujo el primer pleno freakin '3 / 4 punto para poner fin a una diapositiva en la recesión de hoy. Me resistir … pedir más en Negocios y Finanzas Yahoo ver lo que su adopción es.

4. By Gabriella B on Jul 24, 2008

   I found an offer for 7.something%, but that was through my bank/credit union. Seriously, though, see if you can just pay for it outright and use that as leverage in negotiating a lower price. Most won’t want to budge from Kelley Blue Book value for dealerships and STILL tack on fees to sell it to you. See if you can haggle the APR the purchase price. See if there’s a prepayment penalty and, if not, pay more than what’s due so that you can be done with the debt earlier and pay less in interest overall. (This is part of why a large down payment is a good option.) Good luck.

   Also, a good site is…

   Take care.