New truck intrest rates
For anyone that has purchased a new truck recently, what kind of interest rates are you being offered? I know it will vary depending on credit score, I am trying to negotiate a new truck. I was of...
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Make sure you consider all your costs. For instance: assuming you'd be borrowing $25000 from the dealer at 2% interest over 5 years you'd end up paying $1285 in interest. The dealer might have some fee they charge for setting up a loan as well. On the other hand if you buy the truck with a bank loan at 3% interest you might end up saving $1000 on the purchase price and pay $1860 in interest over 5 years. So if these numbers are close you could end up saving a few hundred dollars borrowing money from the bank at 3% vs getting a 2% loan from the dealership.
