How Much Interest Do You Pay For Your Car Loan?

[nomad]

Did you buy a car with a loan? How much interest are you paying for your car loan? Well, I do not have car loan but in my home country the base interest rate for car loan starts form 7 percent. Car loan is one of the lowest interest loans.

 

[Stardom22]

I have never taken the car loan before. I even don't plan to take any in the near future

 

[Suba]

If someone wants to buy a new car on credit, an interest rate will be charged depending on the credit platform. For one year the interest rate will be 3% and for 2 years 3.5%, while for 3 years the interest will be 4%.

 

[Sanjeev]

I don't own a car with a loan. My company sold it to me on discounted rate and have to pay an installment every month

 

[Cam]

I had a pretty ridiculous interest rate on my last car purchase, so I went ahead and paid it off. Next time I need to buy a car, I'm just buying outright. Not messing with awful auto loans anymore.

 

[You]

I'm proud to say I didn't take out a loan to buy my car. I saved up and paid cash upfront. No monthly payments, no interest rates, no debt.

 

[Sanjeev]

I never like the idea of taking loan from the bank for buying anything except home loans because by availing it we get rebates in tax.

 

[Hate2Wait]

I don't own a car so I am not paying for any loan and at present I have no such plans to go for a car and prefer to drive my bike

 

[King Belieal]

We don't have a car loan scheme in my country and even if we were to have, I don't think it is something that I would love to take. It is pretty expensive with 10% interests monthly.

 

[freelancermaria]

I do have a car, so I have not taken out any loans for it. If I ever decide to purchase a car, I'd prefer to pay for it in cash to avoid paying interest.

 

[Kerryjoy]

Buying a car on loan is very tricky indeed, I have ever wondered, what if an accident occurs.