Why do goofys keep pushing this outdated narrative. I have relatives w/ newer model Dodges (Chargers, Durango's). No reported/major issues.
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) with the lowest interest rate.
Nah don’t take that deal.. That Infiniti too old (2015)… that’s why they throwing the high interest at her.. if she got a 2017 model and up the bank would lower the interest rate but they will have to pay a lil more upfront on the down payment
There are many different factors that play a part in a high APR%. How much is she putting down. How many miles does the Infiniti have? What's her credit like? Is it new credit or does she have some collections or late payments that are hurting her. Does she keep her cars long or does she trade them in a lot? A lot of people think it's just the score that matters. In reality, not all 600's are the same. I would never entertain a loan that's above 4%, but that's just me. Some people do not have a choice due to their credit. They are more than likely making 2pts on her APR so it more than likely 12% interest. Seems like she's a first time buyer or her credit is weak. Only way around a big APR% with below average credit is a huge down payment. It also depends on who she is getting the loan from. From the looks of the info given she may not be getting better than 8-10%, but I wouldn't be able to fully tell with out seeing her credit. Banks and Credit Unions all have templates of the APR's given to certain cars and credit scores.My sis is entertaining buying a 2015 vehicle (Infiniti qx60) for around 25K. They told her, her interest rate would be around 14% with the credit score she got, for 60+ months (the whole paying more, improving her score, and refinancing down the line, an option too).
By the time she pays that shyt off tho, I advised her that shyt will be 11+ years
and potentially a brick. She'd be better pressed to get a newer SUV, plus the interest would be lower, (with the vehicle being slightly newer in 5+ years). She was entertaining a newer Durango btw.
Am I giving her the correct info, or is it misinformation?
These car dealerships love fleecing cats with low to bad credit. shyt is disgusting.
Remember my lil brother was so pressed for a car he bought an older whip with a 3 year financing term.... At 24.9% interest from some clown used car dealer.
Car was a 10 year old Mercury Mountaineer at the time
Told him he betta take that shyt back since it was still within 3 business days.
He did.
Of course this makes sense but those with poorer credit usually don't have a choice. Especially starting out in the hole from not being educated on it.
