Interest rate question to recent new car buyers

I wouldn't think you would get anything higher than a 3 or 4. You're going to have to see who will give you the best interest rate. I got 1.99 through neighbors credit union.

Money talk board. You'll get better (honest) answers

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Wondering what my interest rate will be. My credit score was 729 last I checked.(credit karma)

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you're interest rate will be 3-4%.

you would most likely qualify for the 0.0% offers that go on from time to time but that would mean financing through the dealership

800+ credit score
0% interest for buying a car/truck

Use myfico. Ask what the bank uses (Transunion for ours) and compare. We had to be over 730 for the good rate of 1.49% for 4 or something like that.

I got 13.49 but they can auto draft my bluebird card every other Friday so I don't have to worry about it

Credit karma was actually very accurate for me. Equifax is what most dealerships will pull. Rarely will they use transunion though it is acceptable to some banks. Most credit unions will offer 2.49 to 2.99 for credit scores over 700. There are occasional specials that go down to 1.49 but that isn't always the case.

Some dealerships offer 0% for certain terms thru their own lender. Be very careful with 0% because it is very rarely truly interest free. You often lose rebates or negotiating power. Instead of paying x in interest you pay it up front by losing x in rebates or are forced to pay sticker price with a small rebate. Typically 0% interest is 1 or 2% interest where the dealership pays the 1 or 2% up front.

Thanks guys this is helpful. Anyone know how accurate credit karma is?