credit score?
I have a credit score of 730 (experian). Planning to buy a new honda civic in 2007 Jan-Feb. Will I get an autoloan for the amount 15000 for 3 years at an interest rate below 8%.
Public Comments
- You should. 730 is an excellent credit score!
- While your credit score is good, auto loans are also heavily dependent on your income. Since you're getting a new car, you will probably be able to finance if for 4 or 5 years with a rate around 8%. If there are promotional interest rates, you'll do better. A lot of times, dealerships will offer 0% or 3% (something very low) during that time period to help boost sales after the holiday season. The interest rates also vary slightly from state to state. But one bit of advice is that dealerships typically offer lower interest rates on auto loans than if you go to a bank on your own. They deal with several lenders who are competing to get your loan on the best terms.
