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On a used car loan, you will generally have to pay between 4 and 10 % interest on your loan. Of course that depends on which lender will finance you, the age and condition of the used car, and of course your credit rating.
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∙ 12y ago
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Is the interest on used car loans higher than the interest on new car loans?
The interest on used car loans are definitely higher than new car loans.The rate is higher because the car is usually not bought from a car sales house
Do used car loans have high interest rates?
Whether your used car loan has a high interest rate depends on who you talk to or ask. Although, yes, used car loans have medium to high interest rates.
What is the interest rate for car loans?
46
Will interest go higher for car loans?
No it's not like that the interest would go higher for car loans it all depends on your credit records, but there are many online sources who provide car loans with low interest rates try to contact them and get your problem resolved.
What are good interest rates for bank loans in 2013?
What qualifies as a good interest rate depends on the loan. There are car loans, mortgage loans, home equity loans and personal loans. The interest rate for each loan differ.
What are the advantages of used car loans?
Used car loans have the advantage over new loans simply because there are more banks and other financial services willing to work with the individual either with apr or the amount of the loan. There are also a lot more lenders out there that finances used car loans. there are many advantages of used car loan but the major one it is puts more emphasis on the principal of the loan amount as the interest.
Car loans tax deduction?
No. No personal loan interest.
What is the average interest rate on car loans?
The average interest rate for car loans is between 4 and 4.5% for the last few months. A car loan for 3 years is slightly cheaper than the car loan for a longer term.
Using Auto Loans To Pay Off Debt?
As strange as it may sound to say this, auto loans don't necessarily have to be used to buy a vehicle. Auto loans used for other purposes are available if you already have a car. This form of refinancing can be used to gain access to credit that you wouldn't normally be able to access, or to get reducing interest rates. As an example, if you have accumulated a large amount of unsecured debt with credit cards and cash advances, you can auto loans can be used in order to pay off this debt. In this situation, auto loans are used as a debt consolidation loan. Since the car is used as collateral in the loan, the interest rates are typically much lower than the interest rates that you would need to pay for the credit cards. Auto loans used for purposes other than buy a car can be used to pay for almost anything. If you choose to do so, however, it is important to realize that you are putting your car at risk of repossession if you can't pay back the loan.
What are the interest rates on Bank of America auto loans?
The interest rates at the Bank of America on a loan for a new car is as low as 2.24%, for a used car as low as 2.29% and for if you want to refinance it can be as low as 2.44%.
Where can one get used car loans in the United States of America?
You can get used car loans in the United States of America through your local credit union, bank and through the dealer directly. The credit unions and banks will usually get you a better interest rate.
Where can I find a used car loan?
The best place to find a low interest used car loan is bank rate. They offer many loans from different lenders at one place.
