What are your FICO scores? 11% is very high. Have you tried your banking institution, a credit union or a dealership?
I am in the market for a newer 1 or 2 years old, vehicle. My bank quoted me a rate of 8% and said I would be better off trying to get the loan through the dealership because they can usually offer much better rates.
40k is a lot of money for a vehicle (at least to me
) I assume you are purchasing a new one? If so -and your scores are good, you should be able to get a
much lower rate from the dealer. I know excellent scores bring the 0%, 1.9%,2.9% financing.........I would imagine (and I am guesstimating) that a decent but not excellent score could bring around 6% which is almost half of what cap1 quoted you.
Someone correct me if I am wrong