"Is an auto loan with a 6.9% APR good, or could I do better? "

"My credit score is over 700 and this is my first car loan ever. I feel like it's a good deal, but I would like a second opinion.


Apr 26, 2021
Answer provided by
Johnny Puckett
Answered at Apr 26, 2021
“For your first car, an interest rate of less than seven percent is a good deal. Assuming that the car itself is also a good deal, you can rest easy knowing you are not getting taken advantage of.
However, if that APR approval is from a dealer, you should at least shop around to try to find a better loan at a bank or credit union. You might be surprised and be offered a lower interest rate. “
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