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how does a 18% apr jump to 26% from the same lender

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Dustink
Valued Contributor

Re: how does a 18% apr jump to 26% from the same lender


@way2evil wrote:

@Dustink wrote:

Anything over 10% is a scam. Speak with credit unions ect. You are bound to be able to find something under 10%. The market is rock bottom for interest rates on secured loans. 

 

I am a first time buyer with a score under 700 and I was approved for 3% on used and 2% on new with USAA.


Is that so?

 

Since you think 10% is such a great interest rate, why dont you set up your own finance company at a fixed 10% rate on every deal and I will send you a hundred loans a week at that rate.

 

When you have someone with two reposessions and banged up credit, 25% is a blessing.


Or maybe they shouldn't be financing another car. Although, if LTV was strong I would gladly approve them at 10%.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


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