With the scores mentioned, you are going to see 16% or higher, unless you can put down a substantially large down payment. For example, when I was in the 500's, I put $25k down on my Excursion that was $54k. I got 2.99% Ford financing. Without the down, they wouldn't have even financed me.
It's not a rip off, its the price we pay when our credit is, shall we say less than pristine. Now, after all these years I am able to command the best rates....and you will too after you have fixed it and maintained the CR.
However, I suggest opening a savings account with a Credit Union in the mean time and putting regular small deposits into it. Take out a "secured" personal loan against the savings account and pay off over 6 to 12 months. Then talk to the Credit Union about refinancing.
My point is, you are making the high interest payments anyway, so might as well be building a relationship with a CU who can refi it after 12 to 24 months, potentially.
