having never had to finance a car... I'm not sure what loan rates are like... eloan just approved me @ 5.15% used auto loan. Is this an ok rate? If not, any suggestions on where to get a better rate?
my credit union is advertising 4.8% used car auto loan .... but I guess you are not doing too bad. -- lakpr
I forgot to add ... that rate is valid only if you agree for 24 month term. For longer terms, the interest rates go up to 6.5% for 4 years. -- lakpr
that's what we just got from our local CU, DH with scores in 570 range, D credit she said 6.4% for 4 yrs we are running..............!!
Well, given the overwhelming response that this was an excellent rate... I went out a bought a car was a little scared of the whole process, but I drove off with it within an hour--eloan was easy. Funny, I keep expecting them to call and say they made a mistake and tell me I have to take the car back, lol!
