Bankrate.com New car loan rates?
I was just looking around and I came across bankrate.com and it said the following:
Someone taking out a ,000.00 72-month new-car loan at the current average would pay 6.87 a month for the life of the loan.
In Racine, the highest rate on a 72-month new-car loan was 7.99 percent. The lowest rate in Racine was 5.84 percent. Six months ago, the average rate was 6.87 percent.
This was posted on their site yesterday. I was estimating the payment for a Ford Focus (,000) and in order to can anywhere near the payment they day the average is for a 22,000 card loan is to pay about half the cost of the Focus in down payment, or the like, and have an apr below 4%.
How does bankrate come up with that number when it doesn’t seem to fit with estimates at car sites?
Related Posts
Tags: car sites, estimates, fixed rate private student loan consolidation, ford, ford focus, home equity loan lowest rate, new car loan, six months
You apparently place in information at Bankrate that doesn’t match what you’re asking. 72 payments of $126 would be less than $10k.
It can really save you a lot of running around to just get an automobile loan price on the web to verify what the going rates are. You might be really pleased. Also if your credit is not excellent, a lot of online loaners are more willing to help you.
What I most often tell friends is that an online quote at http://auto.lowratetoday.com is what I would do.