What are some good interest rates for automobile financing these days? And some bad interests rates?
Does anyone know what interest rates should be offered for good, fair and poor credit, when financing a vehicle?
Public Comments
- If you have pretty good credit between 4-7% .The first car I ever baught with very little credit was 19% ouch!. But with some of the good deals these it is not uncommon to get 0% on new vehicals. My buddy has bad credit and he got 23%.
- The interest rate depends on the length of the loan as much as is does your credit history. A short loan (24 - 36 months) will be lower interest than a long loan (60 - 72 months). If you have very good credit you should be able to get 5% - 7% for 60 months. Anything above 10% is not very good. Anything above 15% is for poor credit situations.
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