Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Loan/interest rates question

Posted by on Jun. 9, 2009 at 5:11 PM
  • 3 Replies

So, I am in the process of buying a new car.

Well, its "new" to me...LOL...its a 2003.  So, getting finacing has been harder than I guess it would be for those that buy new.

They are telling me that I can't get 60 months to get the lower payment. 

The best rate I am being offered is 6.75% for 48 months.

She said in this economy, with the trouble banks are having, this is an excellent offer.

I just wanted some opinions from people that might know.

Anyone experienced with this?  What is your opinion about the rate and terms I am being offered?

I am going back tomorrow to sign and accept and all that.

Thanks in advance!




by on Jun. 9, 2009 at 5:11 PM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-3):
LA8YBUG
by on Jun. 9, 2009 at 5:15 PM

That is not a bad rate for an older model car. They usually don't go for 5 years because of the age of the car.  At least at the bank I worked at.  You might get a better rate at a credit union or thru your insurance company.  But it is not a bad rate.  Congrats!

shopaholic206
by on Jun. 9, 2009 at 5:16 PM

That is an excellent rate! Go for it!

Hrivera5
by on Jun. 9, 2009 at 5:19 PM

That is the rate through my credit union.  I understand about it being an old car, so I am glad that they are finacing it at all, that is true.

I am glad that it is good for that age of the car!  Thanks!




Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)