I%26#039;m looking at a $16999 used car. I have 2k plus a 1k-$800 trade-in. My dad%26#039;s co-signing but I would like to know what kind of rate we%26#039;re looking at? My dad has good credit and is also a memeber of a credit union. I%26#039;m looking to finance for 72 months so I%26#039;m wondering if I%26#039;ll get a deal around $250/month. I live in Illinois so I believe the sales tax is around 6.5%. Any calculations and input would be helpful!
Car APR for 72 months???
Your credit union will be able to quote you an exact rate and payments.
Car APR for 72 months???
According to Bankrate.com the national average interest rate for a 72 month NEW car loan is 7.21%. I doubt you can get a 72 month loan on a USED car unless it is less than 2 years old but if you could, the rate would be about 8.0%.
Now, you can plug your numbers into a loan calculator such as the one at:
http://www.autoloancalculatoronline.com
to get your monthly payment.
Car APR for 72 months???
Hey I am a Stock Market VicePrecident. I would say it is prefferivle to buy a new car with the same price. New cars have lower rates vecause of their company warranty,plus you wont get a lemon. No matter if you get lower APR,Interest,% right now is of 3 to 5% . I got a new 2004 Rolls Roys Phantom valued in 300,000dll.and my APR of 5% No variable. I hope you get the best deal and remember follow melqui%26#039;s rule, If you like it,whant it,and need it ,it%26#039;s all yours.Get it. Good lok and blessings
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