Interest rates

Asked by Simplafi Jan 19, 2016 at 01:40 AM about the 2004 Ford F-150 FX4 Ext. Cab 4WD

Question type: Shopping & Pricing

What is a reasonable inerest rate on a used car. I
checked into a truck i found on here and talked to
someone at the dealership and it just doesnt
sound right. Yhrir asking $8990 for the truck and i
want to put $4000 down. According to them the
payment on the remaining $4990 plus tax and
possessing fees and whatever else is $329 a
month for 39 months. Thats like 60 to 70%
interest. That just doesn't sound right.

4 Answers

simplafi your payment should be about $175/mo (figure taxes about 550 and reg and fees about $325). that's at 8%. some banks may charge a higher rate for this older truck. Your credit score also makes a difference in rate. But $329 is unreal

1,735

Do you have a pretty good FICO score? 700 and up?

1 people found this helpful.
73,250

Contact the salesman and ask him what interest rate you are being charged. It should be written on the contract.

1 people found this helpful.
34,655

Interest rate is based on your credit score. Depending what state your buying the vehicle you have taxes, registration and other fees but even with everything added up, shouldn't be more than $200 a month. Interest rates on used vehicles are from 4 to 8% with average credit score but some dealers will stick it to you as much as 29%

1 people found this helpful.

Your Answer:

F-150

Looking for a Used F-150 in your area?

CarGurus has 12,802 nationwide F-150 listings starting at $599.

Postal Code:

CarGurus Experts

  • #1
    OJ
    Reputation
    41,770
  • #2
    Gene Arnett
    Reputation
    15,990
  • #3
    Rowefast
    Reputation
    15,420
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used Chevrolet Silverado 1500
222 Great Deals out of 9,112 listings starting at $2,900
Used GMC Sierra 1500
182 Great Deals out of 9,044 listings starting at $1,000
Used Toyota Tundra
27 Great Deals out of 993 listings starting at $9,240
Used Ford F-250 Super Duty
31 Great Deals out of 720 listings starting at $4,290
Used Toyota Tacoma
43 Great Deals out of 684 listings starting at $9,975
Used Dodge RAM 1500
85 listings starting at $2,500
Used Ford Mustang
61 Great Deals out of 1,603 listings starting at $6,500
Used Ford Ranger
20 Great Deals out of 521 listings starting at $5,400
Used Chevrolet Silverado 2500HD
39 Great Deals out of 1,814 listings starting at $1,000
Used Ford F-350 Super Duty
62 Great Deals out of 1,422 listings starting at $7,283
Used GMC Sierra 2500HD
37 Great Deals out of 2,272 listings starting at $9,999
Used Chevrolet Colorado
38 Great Deals out of 1,157 listings starting at $5,999

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.