what would be an normal car loan interest rate with no credit?
what would be the normal or highest interest rate for a car loan with no credit? im thinking of getting a 2007 altima with a 4000 or 4500 down payment. thanks for the answers.
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- With your first sentence, I'ld say 0 'cause you're not gonna get a loan. But $4000-$5000 down is a totally different story. Now you need to furnish more details. Like, no credit at all or some bad? Income? Expenses? Job? Time on job? Amount to be financed & length of loan? Rent or buying? Recent college grad? With what little info you supplied, you're rate to range from 0% (on new) to the max allowed by law.
- I'll agree with Mike S, in saying "no credit" do you mean you've never purchased anything on credit, in which case you could qualify for a first time buyer program with okay rates around 7, or do you have bad credit at a time when folks with good credit are having difficulty getting a loan.
- In this economic time there are so many options available today.All lenders work with all kind of credit situation people.You just need to do some research to find best suitable lender for your need & your pocket.You should collect all the car loan quotes which will help you to take wise decision.
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