Overhaulin'

Car loan interest rate for a 20 year old?

I want to buy a used Infiniti with financing. I was wondering what the interest rate would be for a 20 year old who has had a credit card for one and a half years with great credit (about 720). The amount the dealer is selling the car for is about $18,000 dollars.

Public Comments

1. they WILL tell u don't have decent credit EVEN though u do and Might want to get the highest rate they possible IF the do just get up and start walking don't say a word they will call u back and try a little lower but just keep doing the same until U think between 1%-3% NO more cause u have excellent credit.....
2. Sorry Vinny but you won't get a car loan. Age has nothing to do with APR. You could be 20 and get 0.0% APR but a 50 year old could get 29.9% on the same car. And FICO score is meaningless if you've only been reported for 18 months on one credit card. The real dope on car loans is this: at your present job for at least 2 years make a minimum of $2500/mth been at your present residence for at least 3 years have established credit for at least 5 years and in good standing a prior car loan paid off with no late payments have less than a 34% debt to income ratio no 30 day late pays in the past 12 months no 60 or 90 day late pays at all no charge offs no closed accounts no tax liens no skip trace no bankruptcy You will need a cosigner with strong credit to get a car loan. But that will still help you since it will be reported on both yours and your cosigners credit history.