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Started By
Message
Interest rate question
Posted on 3/21/15 at 10:19 am
Posted on 3/21/15 at 10:19 am
Should I have 6.19 interest rate on a 20k 72 month car loan with a credit score of 807. That seems way too high with my good credit.
11
Posted on 3/21/15 at 10:19 am to JAXTiger16
No, no you shouldn't have an interest rate that high.
Posted on 3/21/15 at 10:55 am to JAXTiger16
Nope
Posted on 3/21/15 at 11:14 am to JAXTiger16
Heck no...
At the very worst maybe 3%?
At the very worst maybe 3%?
Posted on 3/21/15 at 11:44 am to JAXTiger16
I just took out a similar loan, about 4k less and got 2.03%
Posted on 3/21/15 at 11:50 am to JAXTiger16
quote:
Should I have 6.19 interest rate on a 20k 72 month car loan with a credit score of 807.
72 months generally supports an uptick, but you shouldn't be over 5 or so with 740+ (much less 807).
Did you just take their financing or pre-arrange with your own lender?
And credit unions tend to outperform everyone on these - unless you qualify for a manufacturer subsidized rate (which tend to be cyclical).
Posted on 3/21/15 at 12:07 pm to JAXTiger16
With a 807 credit score .. You should no better than that .
Posted on 3/21/15 at 2:46 pm to JAXTiger16
Why are you financing a 20k car loan for 6 years? And that rate is horrible.
Posted on 3/21/15 at 2:59 pm to LSUSUPERSTAR
quote:
Why are you financing a 20k car loan for 6 years?
cause they don't offer 7
Posted on 3/21/15 at 3:24 pm to JAXTiger16
New car - no?
Used car - maybe
Used car - maybe
Posted on 3/21/15 at 6:03 pm to JAXTiger16
go to a credit union
Posted on 3/21/15 at 7:14 pm to JAXTiger16
Are you in Jax?
Call Community First, Vystar or 121
Call Community First, Vystar or 121
Posted on 3/21/15 at 7:29 pm to JAXTiger16
4 years into your 6 year contract you are going to fricking hate that car.
Posted on 3/21/15 at 10:00 pm to Penn
Just talked to navy fed. Refinancing for 1.5
Posted on 3/22/15 at 1:55 am to Glock17
quote:
just took out a similar loan, about 4k less and got 2.03%
Ditto. Just took out that exact loan, 800+ score and am at 2.15
Posted on 3/22/15 at 8:15 am to Mr.Perfect
You shouldn't be higher than 1.9%.
This post was edited on 3/22/15 at 8:18 am
Posted on 3/23/15 at 10:41 am to Birdie225
I just took out a similar loan (higher loan amount) and got 1.7%. I actually got pre-approved for 1.9 at a credit union in New Orleans, then the car dealership beat it with 1.7% from Bank of America.
Posted on 3/23/15 at 10:45 am to seawolf06
quote:
Should I have 6.19 interest rate on a 20k 72 month car loan with a credit score of 807. That seems way too high with my good credit.
I would have given you 1.9
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