Int Rate ?

[Anonymous]

Good Afternoon,

Will your int rate be potentially lower on a new car purchase if the dealer/manufacturer is desperate to sell it? I see some leftover 2015 Mtsubishi Mirage's and wondering if my rate would be affected by the car and not only my score/finanical situation. I'm obviously sub-prime with this question. Thanks. 

[Skye12329]

Your interest rate is affected by your creditworthiness. If the dealer is desperate than they might lower the price of the cae. But they can't really lower your interest rate since its the bank thats offering it.

[sr383]

But the good news is that, if you get a bad rate on a reasonably priced car, you can essentially "rent it" for a year and then refinance when your credit improves. If you get a great rate on an overpriced car, there's no fix until it's practically paid for.

If you can wait a year and build up your score, even better.