Posted by Marlys,
Interest rates of a vehicle purchased with bank financing can vary widely. I was told when I was very young that you should never buy a vehicle on credit, and I believe that is why. I have seen bank financing on vehicles range from one percent all the way up to twenty-two percent! Now, while the person paying only one percent is in good shape, that poor soul paying twenty-two percent interest on a auto loan is being taken to the cleaners!
So, if you have to finance your next vehicle, get the financing before you walk onto a car lot. Make sure it will be a ta reasonable interest rate, and don’t let any sales person try to talk you into spending more on a vehicle than you can afford.