18% auto loan interest rate?
02-15-2008, 09:19 PM
#1
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Thread Starter
Join Date: Jan 2003
Posts: 1,798
18% auto loan interest rate?
I tried HBSC from ebay and I got a stinking 18% interest rate. That ---- seems pretty high to me, I'm new to auto loans so I could be wrong. My house is financed around 6-7%.
update
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I got 13% with the wifey's credit and mine
update
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I got 13% with the wifey's credit and mine
02-15-2008, 09:23 PM
#2
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Join Date: Mar 2003
Posts: 21,479
Re: 18% auto loan interest rate?
That's a horrible rate for an auto loan. Right now I pay 27.99% which is the worst god damn interest rate you can have on a loan. My last loan which was through HSBC was 12.69% and I had "questionable" credit. 
HSBC is a good bank to loan to people with ---- credit. If your credit is decent, go someplace else because HSBC will just ---- you over. 
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HSBC is a good bank to loan to people with ---- credit. If your credit is decent, go someplace else because HSBC will just ---- you over. __________________
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02-15-2008, 09:27 PM
#3
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Join Date: Dec 2002
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Re: 18% auto loan interest rate?
Originally Posted by Dr.Boost
That's a horrible rate for an auto loan. Right now I pay 27.99% which is the worst god damn interest rate you can have on a loan. My last loan which was through HSBC was 12.69% and I had "questionable" credit. HSBC is a good bank to loan to people with ---- credit. If your credit is decent, go someplace else because HSBC will just ---- you over.
HSBC is a good bank to loan to people with ---- credit. If your credit is decent, go someplace else because HSBC will just ---- you over. if you go to a credit union depending on your credit your interest rate should be between 9-14% i'd say on a used car. much lower on a new car.
02-15-2008, 09:33 PM
#4
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Join Date: Apr 2006
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Re: 18% auto loan interest rate?
Originally Posted by random-strike
pretty much.
if you go to a credit union depending on your credit your interest rate should be between 9-14% i'd say on a used car. much lower on a new car.
if you go to a credit union depending on your credit your interest rate should be between 9-14% i'd say on a used car. much lower on a new car.
02-15-2008, 09:39 PM
#6
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Join Date: Mar 2003
Posts: 21,479
Re: 18% auto loan interest rate?
Originally Posted by Sinner
pentagon credit union - i didnt qualify
capital one - failed ...
I guess no credit is bad credit really is true.. BLAH
capital one - failed ...
I guess no credit is bad credit really is true.. BLAH
For that, I carry a -0- balance with them and they can ---- themselves if they want to make any money off me. How much is the loan for? A high interest rate isn't that bad if the loan amount is low. I'm only paying about $4k in interest over the course of my 2.5 year loan at 27.99%. It's not that bad since the loan amount was so low.
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02-15-2008, 09:40 PM
#7
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Join Date: Apr 2006
Posts: 65
Re: 18% auto loan interest rate?
18% is a terrible rate.
Personally, I just bought an 06 impreza wagon. 6.5% through a credit union. $13,900 financed at $308 a month. Plus, when the "bank" owns a car, you will need full coverage. I have a $500 collision deductible on my insurance for the car and it costs $815 a year.
Personally, I just bought an 06 impreza wagon. 6.5% through a credit union. $13,900 financed at $308 a month. Plus, when the "bank" owns a car, you will need full coverage. I have a $500 collision deductible on my insurance for the car and it costs $815 a year.
02-15-2008, 09:44 PM
#10
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Re: 18% auto loan interest rate?
Originally Posted by jeffescortlx
Yesterday My wife with crappy credit got a used 2002 at 5.74%
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