"What is a good interest rate for my first car loan after graduating from college? "

"I just graduated from college, I will start my first really good paying job next week, and I have nearly perfect credit. As a graduation gift, my parents are going to put some money down and cosign on a newer Infinity. What kind of interest rate should I expect on a $10,000 loan?


Answer provided by
Johnny Puckett
Answered on May 11, 2021
“More goes into determining your interest rate than just credit alone. Lenders look at your monthly income and debt-to-income ratio, as well as your credit history.
Considering you haven’t started your job yet, and since it is likely that you have some debt from college, you will probably be paying a high interest rate. That being said, anything in the mid-single-digit range would be good. “

Did this answer help you?

Ask us a question by email and we will respond within a few days.

Have a different question?

You can meet us at our office and discuss the details of your question.

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies