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Probably a "place holder" of some kind while they figure out what price to actually give it. Either that, or someone fat fingered it.
 

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6.9% APR for a car. Have rates gone up that much?
 

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6.9% APR for a car. Have rates gone up that much?
Probably if you have really bad credit. but then again, at a $200K asking price, I figure 6.9 is perfectly reasonable! lol
 

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Discussion Starter · #6 ·

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Probably someone fat fingered it, it's easy to do, I've done it. The dealer manager I use has really small font, I haven't figured out how to adjust it yet.
 

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6.9% APR for a car. Have rates gone up that much?
In 2014 I was given a 10.9% rate and my Credit Union recently gave me 5.9%. When I bought my CRV in 2000 the rate was 15.9%. What gets me though as my credit has improved and I could pay off my CRUZE today, the quicker you pay off your Car loan actually makes little to no difference in improving & raising your credit score.
 

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6.9% APR for a car. Have rates gone up that much?
Buddy we sign multiple people up at over 15% multiple times a day.. I wish we only had to worry about 6.9% being "high" ugh

In 2014 I was given a 10.9% rate and my Credit Union recently gave me 5.9%. When I bought my CRV in 2000 the rate was 15.9%. What gets me though as my credit has improved and I could pay off my CRUZE today, the quicker you pay off your Car loan actually makes little to no difference in improving & raising your credit score.
Consistent and lengthy history, on time payments, and your DTI not through the roof..
 

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6.9% APR for a car. Have rates gone up that much?
My 2nd new car purchase at 19 was 18.9% and then refinanced it to 5.9% with Navy Federal 6 months later. Damage was already done. Luckily the value of said car didn't drop as much and I owed what it ws worth when I sold it back to the dealership 5 months into the new engine replacement.
 

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None of the dealers around here are advertising the second gen. Cruze yet. They have them on the lots, but all of their ads are for 2015s and 2016 Limiteds at really low prices. It appears they are trying to get the old ones off of their lots first. Most have a pretty good inventory of them also. Saw one ad for a '16 Limited for $122 a month.
 

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I think small cars right now are not selling as well as they did when gas was much higher. Many folks are buying SUVs and trucks and my guess is margin on those are higher than a 20k car. As gas goes back up if it does this could flip again.
 
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