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For first-time car buyers, one of the most daunting parts of negotiating a good deal right now is interest rates.The average auto loan rate for someone with excellent credit is 5.25%, according to ...
Car loans are one of the most common types of debt among consumers in 21st century America. While auto loans are not as common as credit cards, the majority of Americans (62%) have an auto loan in ...
Over the course of a 60-month loan, the person with good credit will pay around $5,600 in total interest, while the person with poor credit will fork over a whopping $17,300 in interest fees. That ...
Legally, an indirect “loan” is not technically a loan; when a car buyer obtains financing facilitated by a dealership, the buyer and dealer sign a Retail Installment Sales Contract rather than a loan agreement. The dealer then typically sells or assigns that contract to a bank, credit union, or other financial institution.
Buying a car is a major financial commitment, and for most people, it involves taking out a loan. Along with the loan comes interest, which is the cost of borrowing money from a lender. Read Next:...
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