Is a 4.5% apr good for a 14k auto loan?
I'm putting down 4k on a 14k 2011 ford fusion. Is my apr of 4.5% good?
and should i take it out for 60 or 72 months?
Reasonable. Regardless of the formal loan term, pay it off As soon as possible.
once the loan is done, you can drop/reduce the unnecessary insurance coverages.
Not really, 2.5-2.9% is good.
With $4k down, you should get a lower rate.
And never finance anything for 72 months.
Is $14k too high for a 2011 Fusion? I don't know, I'm asking.
The KBB on that car from the dealer is $14k, but I'm willing to bet they didn't pay any more than $10, so try to get it for $12k and see what they come back with. 4.5% on a used vehicle is not terrible but you are putting $4k down. I'd expect with that down payment you'd only be paying 2% interest. If your credit isn't that great then go for it though. I would only take the loan out for 48 months. It's not a very expensive car… No need to drag it out 5 or 6 years.
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