What is the interest rate for cars in Florida?

Car Loans

Type *Term
New & Used Vehicles New & Used Cars 2.54% – 14.15%
New & Used Cars 4.65% – 15.15%
New & Used Cars 5.65% – 16.15%
My First Auto Loan Up to 72 Months

>> Click to read more <<

Also, which bank has best car loan rates?

Compare the Best Auto Loan Rates

Lender Lowest Rate Terms
PenFed Credit Union Best Overall 0.99% 36 to 84 months
LightStream Best Online Auto Loan 2.49% 24 to 84 months
Bank of America Best Bank for Auto Loans 2.14% 12 to 75 months
Consumers Credit Union Best Credit Union for Auto Loans 2.24% 0 to 84 months
Also question is, what is a good interest rate for a 72 month car loan?

3.96% APR

Loan term Average interest rate
72-month new car loan 3.96% APR

Herein, do dealerships finance 84 months?

What is an 84-month auto loan? Car buyers who can’t afford or don’t want to pay the entire cost of a vehicle in cash can turn to auto lenders to get the financing they need. Depending on the lender, terms can range from 12 to 84 months, or even longer for certain types of vehicles.

What is the highest legal APR on car loan?

The law says that lenders cannot charge more than 16 percent interest rate on loans. Unfortunately, some lending companies owned by or affiliated with vehicle makers have devised schemes whereby you are charged interest at rates exceeding the maximum permitted by law. This is called usury.

What is the maximum interest rate allowed by law in Florida?

Florida’s usury laws, set forth in F.S. Ch. 687, prescribe a maximum rate of interest of 18 percent on loans of less than $500,000. On loans that exceed $500,000, the maximum legal rate of interest is 25 percent.

Is it smart to finance a car for 72 months?

A 72-month car loan can make sense in some cases, but it typically only applies if you have good credit. When you have bad credit, a 72-month auto loan can sound appealing due to the lower monthly payment, but, in reality, you’re probably going to pay more than you bargained for.

Leave a Comment