Interest rate on a car loan

[wrigley1976]

I am going to talk to my attorney about trading in my car for a new one. I am currently in a Ch13. i no longer need the car I drive due to a change in jobs.
I think I could get into a new car and lower my payments.
What kind of interest rate can I expect on a 60 month loan?

[BassBoy]

That interest rate you may get is hard to determine because everyone's situation is different. For example, if your credit was good before the BK, then you may get a nice rate, whereas if you had lates, collections and charge offs before the BK, you could be looking at a high rate. I've seen rates for 0% to 24% for some of our members.

Going with a new car purchase will get you the lower rates, but again, based on your credit, the interest rate could vary. It also helps to have a down payment, especially with today's tighter lending guidelines. Most banks and lenders are not willing to finance the full value of the vehicle. And if you'll be carrying over negative equity, obtaining the loan may be more difficult, unless you can cover the negative with a down payment.