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| *Loan,banking and credit>>>auto loan |
What the high interest rate that can be charge on a auto loan ? |
What the high interest rate that can be charge on a auto loan ? Is hard to tell, it all depends on where are you getting it from, but i would say about 18 % good luck You may want to check some federal statutes on interest limits. Some smaller finance companies can charge 24 o 28% interest. and thats a secured loan meaning that if you default, they will come and take the car. On unsecured loans like credit cards, they can go as high as 30%. However much the person taking the loan out is willing to be fleeced for. Sad how the poorer you are, the higher interest they charge you. Best bet is to shop around beforehand and secure financing before purchasing a vehicle. Avoid dealer financing unless their offering some ridiculously low rate to secure customers. |
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