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According to Bankrate, 2.5% interest isn't a reasonable assumption these days. Looks like it's more like 4.5%, and I presume that's assuming you have really goo
by bunderbunder 9y ago
According to Bankrate, 2.5% interest isn't a reasonable assumption these days. Looks like it's more like 4.5%, and I presume that's assuming you have really good credit.
That said, even at 6%, you're only looking at $1,172 over the life of a 5 year loan, so I agree that it's a fairly negligible difference for the purposes of this calculation.
- astura 9y agoI was going with best case with perfect credit. My credit union offers 2% loans - https://www.navyfederal.org/products-services/loans/auto/auto-rates.php https://www.navyfederal.org/products-services/loans/auto/aut... those are 36 month loans though. You're right I probably should have done average case.
- softawre 9y agoI just got a new 30k Kia for 2.2% with 5k bonus cash. They also offered 0% and 3k bonus cash but taking the extra cash was better for me.