Overhaulin'

Whats the best car loan rate to apply for? I live in Chicago. So far I was approve for 7.9 APR on $17,000 car

Capital One approved me 7.9 APR on a new $17000 car. Well, is there another financing company that can beat what they gave me? If so then I will apply for thier loan. I have very good credit and a decent job plus I live with parents, so I have no bills except cell phone bill.

Public Comments

1. You sound young, so depending on how much credit and how established you are, 7.9% may be quite good. Keep in mind that a car loan usually is short term, and for a relatively small amount of money. If you got a 6.9% rate, you would only save about $6-7/month on a $17000 balance (based on 60 months). Good luck in your car purchase!
2. Consider joining a Credit Union if you haven't already done so. Their rates may be 1% or more lower than a card company or bank.
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4. You might be able to beat that rate. I know a young lady in California that landed a 5.2% interest rate on a $10,000 car. It all depends on your credit score. You can get that score for free. I've had good luck here... http://auto.deal4-you.com Have a nice day.