@babbles wrote:
@Anonymous is the best going rate for an auto loan with scores between 760 and 780 for a 72 month term? I recently bought a car at Honda and think I got robbed @ 3.04% with SunTrust. USAA and NFCU whom I've been with in excess of 6 years offered 3.75% and 4.49% respectively @ 72 months based on my DTI. Thanks.
You also said that the rates were based on DTI but didn't give us your DTI. Keep in mind scores aren't everything. No matter how great your scores are, if you have a high DTI, you are a bigger risk, so you will get higher rates. Rates are based on so many things including: scores, DTI, down payment, depreciation of chosen vehicle, and others.
+1 to brooklyn's comment about loan term as well. Usually rates start going up on any loans over 60 months. Often the best rates are even for loans as low as 36 or 48 months, but almost always any 72 month loans come with higher interest rates.
Here's a good example from my credit union, PSECU:
- Up to 36 months: 1.49%
- 37-60 months: 2.49%
- 61-72 months: 4.99%
- 73-84 months: 5.99%
- 85-120 months: 7.99%
As you can see, rates definietly increase with the loan term with them.
