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What’s a good rate to aim for when getting a new car loan?

It’s been a while since I financed a brand new vehicle. I am interested in the 2009 Saturn Vue. What is a good percentage to aim for when talking about the interest on a finance loan?

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This entry was posted on Thursday, February 25th, 2010 at 4:48 am and is filed under new car loan. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

9 Responses to “What’s a good rate to aim for when getting a new car loan?”

  1. zero to 3.9%…. no higher. If you have good credit shouldn’t be a problem. Enjoy the new car :)

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  2. 0

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  3. Definately 0% but I’d go anywhere under 5%

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  4. How good is your credit? What’s your credit score? You should know those before walking into the dealership…it will be tougher to get a nice rate if your credit isn’t good.

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  5. You can only aim for what you qualify for. All this 0% junk is unreasonable as very few qualify for that.

    Do your homework first!

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  6. If you have GREAT credit then you could get 0% of Saturn has any deals like that going on. Otherwise, if you have good credit you could get around 3% or maybe a little more, maybe a little less.

    If you have bad credit….GOOD LUCK! I once paid 14% on a car loan due to bad credit. You can negotiate price and other things, but the interest rate will depend on your credit score, so get your score first before you even try to buy a car.

    You can get a 3 in 1 credit report and score at:

    http://www.equifax.com

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  7. 3-6 percent are pretty good. If you want a bargaining chip, get preapproved for a loan before you go to the dealership. Then when they give you the loan amount you can say, no thanks, I’ll just use e-loan or my credit union, they offered me a lower rate.

    I’ve done this with luck. Sometimes I use the e-loan check and sometimes they come back to me with a lower rate. Remember, dealers make money off charging you higher interest. Being ready will save you money! Just make sure that you don’t mention that you have other financing until the end, or they will try to add extra money into the cost of the car.

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  8. Jimmy d. - Floridian~`` on February 25th, 2010 at 4:48 am

    Unlike most things…"aim" low, rather than high, here! 0% to 5% is good.

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  9. 0% IS NOT available on the 09 Vue.

    You have internet access obviously, so why ask people that don’t know? Just go to http://www.saturn.com. It’s not rocket science.

    AND NO, 5% is impossible these days without a special. The going rate without a special is probably going to be damn near 6-7% or even higher with PERFECT credit.

    The 08 Vue has 0% for 36 and 48 months, and 2.9% for 60 months.

    All of these offers are with approved credit. Since GM is hurting right now, you better have a beacon score of 720+ to get ANY of the specials. If not, 6% is probably not even achievable.

    From your friendly Toyota Salesperson :)

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