I did alot of research on this before I bought my new Honda last year. I knew I was in for a high interest rate because I BK'd in 03 but there not much I could do about that. There is no guarantee even if you compare yourself to others in the same situation, but at least it's a reference point. I ended up just going with the dealer and at first they approved me through Cap One at 14% (which was less that I thought I might get). But I ended up putting down $7000.00 on a $22,000 car and that helped me immensely. I think the more you put down, the better chance of getting financing and maybe a better rate. When i went to sign my contracts, the Finance Mgr. actually told me he had good news for me. He said they changed my financing from Cap One to Honda Finance for 8% interest instead!! I almost dropped dead LOL, I was soo happy. I was planning on putting down 6,000 but would do 7,000 if need be..and when I said ok, I would put down 7,000, they made this change and got me the lower interest rate. Who would ever believe that a dealership would work with someone this way!
