Quote:
Originally Posted by ULTRAZLS1
Im sure you guys have probably seen to many of these threads all ready so ill apologize up front lol.
I just checked my experian credit score and it is 767. No history of any type of negative activity/history on my report.I have no loans of any type or any kind of monthly payments on anything (still live at home). I have a steady job that I have been at for 1 year.
I have been researching interest/loan rates for a little while and was wondering If I could get some feedback from you guys.
I want a low payment so I want a 72 month loan. I did A quick application on the capital one website (which lowered my credit by 4 points). It is the blank check online auto loan that they offer.
Anwayz....They approved me for 24,000 at something like 5.49% for 72 months which worked out to around 390 a month I believe (dont remember exact numbers) This is just the amount I need....ive got 10,000 saved for the car for down payment. 370 a month is very do able for me also.
Is this a good rate? Should I try for gmac through the dealer for 72 months or shop around? is this online loan a good idea?
Never bought a new car so im a newb...sorry
thanks for the advice
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That is a good 72 mo rate. As Dr Leary used to say "if it feels good, do it"
Just make sure you intend on keeping it for 4-5 years.