Open Question: What would be a high car loan rate?

3 December 2008, 12:52 pm

I'm 20, with kind of crap credit right now. I am looking into getting a new car (2006 Mazda 3 Hatchback) for $14,000. I have $2,000 cash plus whatever I get for my current car (1994 Toyota Camry XLE V6). Okay so maybe a $11,500 loan or something?? What would be a high interest rate, and on a 5 year loan what would my payments look like? Thanks.. Also I make $2,000 a month so would this be a realistic loan for someone my age / income?... Read More »

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