What do you consider a good interest rate on a new car in this economy?
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What do you consider a good interest rate on a new car ... - 5/15/2008 9:46:58 AM
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lightshineon
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I know what a good rate was before economy break down. I am buying a car, and loan is 5% is that bad, good, fair in todays economy? Should I try for better?
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RE: What do you consider a good interest rate on a new ... - 5/15/2008 10:45:57 AM
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Miss Giggles
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From: MI
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5% is about the lowest you can get right now due to the "credit crunch". New and used are around the same rates. Used to be lower on new cars.
bankrate average is 6.8%.
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RE: What do you consider a good interest rate on a new ... - 5/15/2008 2:30:02 PM
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lightshineon
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Thank You, I am not very smart to due with money matters. My husband is, but he is a worlaholic, and I do not see him in time to ask.
quote:
ORIGINAL: Miss Giggles
5% is about the lowest you can get right now due to the "credit crunch". New and used are around the same rates. Used to be lower on new cars.
bankrate average is 6.8%.
_____________________________
Remember, whenever you have pearls, there are always plenty of pigs nearby who would be glad to step on them.
F.T., 2007
Be sure you vote for those, whose views you want your children to emulate.
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RE: What do you consider a good interest rate on a new ... - 5/15/2008 2:35:12 PM
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GroupW
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quote:
ORIGINAL: lightshineon
I know what a good rate was before economy break down. I am buying a car, and loan is 5% is that bad, good, fair in todays economy? Should I try for better?
5% sounds excellent for a 3/4 year loan. What's the term?
Edit: Capital One does internet-based lending and typically finances the best credit scores at the lowest rates. Their best rate today is 5.19% APR. I'd say 5% isn't too shabby! Congrats on having a good credit score apparently.
< Message edited by GroupW -- 5/15/2008 2:42:49 PM >
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RE: What do you consider a good interest rate on a new ... - 5/15/2008 2:56:49 PM
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lightshineon
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Thanks, do not know what score is, i know so far not late on morgage ever, and paid two cars off, not late. I always forget the water bill due every two months (lol). I will have to look at term. I am not good with finance things. Just pay bills, my husband is better, Thank Goodness, but thank you.
quote:
ORIGINAL: GroupW
quote:
ORIGINAL: lightshineon
I know what a good rate was before economy break down. I am buying a car, and loan is 5% is that bad, good, fair in todays economy? Should I try for better?
5% sounds excellent for a 3/4 year loan. What's the term?
Edit: Capital One does internet-based lending and typically finances the best credit scores at the lowest rates. Their best rate today is 5.19% APR. I'd say 5% isn't too shabby! Congrats on having a good credit score apparently.
_____________________________
Remember, whenever you have pearls, there are always plenty of pigs nearby who would be glad to step on them.
F.T., 2007
Be sure you vote for those, whose views you want your children to emulate.
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RE: What do you consider a good interest rate on a new ... - 5/15/2008 3:08:22 PM
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christsstar
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5% is really good. Both of my cars are between 8 and 10% I think (I dont' remember ... shame on me).
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RE: What do you consider a good interest rate on a new ... - 5/15/2008 6:04:16 PM
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lightshineon
Posts: 3391
Joined: 4/11/2005
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Do not worry, I need wisdom, in this area, if not for mt husband????????????
quote:
ORIGINAL: christsstar
5% is really good. Both of my cars are between 8 and 10% I think (I dont' remember ... shame on me).
_____________________________
Remember, whenever you have pearls, there are always plenty of pigs nearby who would be glad to step on them.
F.T., 2007
Be sure you vote for those, whose views you want your children to emulate.
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