What type of interest rates can i expect for a 5000 dollar auto loan?

i just turned 18. and i have very little credit established. what is the least you guys think i'd be able to expect from any bank or credit union. also if you have any suggestions as to where please include. thanks a lot

What type of interest rates can i expect for a 5000 dollar auto loan?
Well if you have very little credit you may get a high interest rate. Anywhere between 9-15% is probaby what you can expect. The payments probably won't be very high just because of the loan amount. Just make sure you always pay a little more than what you have to. Even 10 bucks more a month will help save you quite a bit on interest. If you get a high APR just pay on it for about 6 months and then try to refinance to see if you can get a lower APR....but don't stop paying the same amount you were used to paying. This will ensure you save more money and you will pay the loan off much faster. It will also look good on your credit.





I would suggest trying to ge ta loan from a credit union. They are usually the best but you will have to become a member, which usually just means you have to open a savings account.