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Old 03-29-2007, 10:17 PM   #1
happyparrot
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Default Is this a reasonable APR for a used car.

Hey guys, I've been looking at buying a 2003-2005 Infinity G35 coupe. Today I stopped by my bank to get a finance quote. Here is what I got from the bank: 6.32% for 36months 0 down, for a $25,000 loan. or 6.48% for 48months 0 down. It makes no difference if I put money down or not, because I would have to put almost $10,000 down to drop the rate to 5.49%.

I went to the dealer, and they offered me: 6.92% for 36 months, 0 down for a $25,000 car, also makes no difference if I put money down or not because it'll only make a difference if I put down over $8k.

What do you guys think, are these reasonable APRs? The best I could find online was 5.99% APR, not too big of a difference. Please give me input in regards to the APR I'm offered, also any links to good deals would be much appreciated.
Thanks
~Daniel
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Old 03-29-2007, 10:23 PM   #2
NutBucket
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I'd say that's pretty good. I got about 6 on a new car loan even with excellent credit. It was a small amount that will be paid off quickly so I didn't bother shopping around much.
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Old 03-29-2007, 10:23 PM   #3
quentinberg007
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That really isn't bad.

~~Quentin
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Old 03-29-2007, 10:26 PM   #4
Sideshowbob
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Very solid, even the higher rate.
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Old 03-29-2007, 10:29 PM   #5
WindexLeggy
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For a non-factory-subsidized loan, 6.32% for a used vehicle (read less security for the lender) is pretty good. Popular, non-subsidized vehicles at dealers are getting 5.9% right now...
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Old 03-29-2007, 10:35 PM   #6
MikeBuzzsaw
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Try some Union Banks. The rate is usually 6% or less.
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Old 03-29-2007, 10:40 PM   #7
Radiohead71
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yes, I would take that.
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Old 03-29-2007, 11:49 PM   #8
happyparrot
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Thank you very much for your input guys, this is encouraging. If everything goes as planned, I'll be picking up the car on April 7th or 8th! And, I'll definitely check out a union bank before I proceed.
Thanks again
~Daniel
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Old 03-29-2007, 11:50 PM   #9
legacydreamz
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yes take it.
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