I'm looking to take a loan out for an investment. Where can I find a low interest rate? I have a pretty decent credit score, in the upper 600's. Anyone have any recommendations?

 

best bet might be to post in the region your state is in as alot of local credit unions are the best. i went through a local one for my tc and got interest rate at 2% less than dealership

 

good looks.

thanks man.

 

defintely look around i got 6.8 apr from the dealership which is a pretty darn good interest rate!

 

hmmmm dealership gave me 4.74%

 

credit union for sure. although you always get good rates when you have been with them for awhile. I sold Scions and Toyotas for bit and many people use their credit unions for really good rates. I have seen below 1%....credit score was perfect too. But look around. Go to your bank and try. Then another, another if you want. Try a credit union. Look online too. Whenever you have a rate you think is good jump on it. Good luck

 

Nice. I also had alot to eat on a trade in which i know made them bump it up a lil to get some more money. But it was the best rate i had ever gotten. i mean my credit is good not the best. im working on it. Almost got all my debt (besides cars) paid off!

 

yea my credit score is in the upper 600's, and i'm only 21 and i've been told that's pretty good. because a perfect score is like 720 isnt it?

 

damn that's really good. im at 5% from my bank and dealership was trying to giveme 7.35

 

well it depends on which credit agency they use. Its stupid how different they are. 2 of mine say i am over 700 and the other says mid 600's. The one most people use is my lower one. But thats because so many people looked at it in 07 and 08 since i was getting i moved like 3 times and got my wife an explorer. But they should clear end of this year and i will be better off. Plus all my debt is almost paid.

But i think 800 is the new high. They revamped the system a few years back.

 

the highest score you can get is an 840, and it is nearly impossible.

im 22 with a 740. Perfect credit... just not a long history of credit.

 

You do realize if you get your credit checked by every joe that wants to do it, this does nothing but lower your credit right? Be careful.

 

If you check your credit, it will not lower your score. However, inquires on your credit score from Banks, etc. will lower your score. It is a sign that you are searching for money.

 

yep i hate that; and if you cancel a credit card it does as well (found that out when i cancelled my circuit city card)

 

Not every inquiry from a bank will lower it. It has to be multiple hits over a period of time, the scores do factor in that when you're looking for a loan, it might get 3-4 hits as you're shopping around.

Like everyone else says, credit union. I got 4.75% on a 3-year from Navy Federal, and this was for a used, private party sale. They really need to cap the loans though, I have a feeling that part of the reason for the bank failures was lending more than people could reasonable pay back. I was approved for up to $74k! I don't even want to calculate a monthly payment on that for a 3-year, it would be more than my mortgage. Since it happnes to be directly across the street from the local Toyota dealership, they said they would match rates. However, the chaepest they could do is $14k for a used xD, private party I went $7k on a 1gen xB, really couldn't justify the extra cost for less room and only 4 years newer.