What is the going interest rate on auto loans right now?

SSgt Private RallyPoint Member — Tue, 07 Mar 2017 17:41:50 -0500

I'm interested in a 2014 Ford Transit Connect. The dealership is telling me that because the banks consider it a commercial vehicle the interest rate is higher than I would pay for a different mini van. Is there any validity to this? I don't want to get ripped off, but I know very little about finances. My credit score is above 700, I'm being offered a 5% rate on 72 month loan.

Response by SGT Private RallyPoint Member made Mar 7 at 2017 5:56 PM

SGT Private RallyPoint Member — Tue, 07 Mar 2017 17:56:37 -0500

I'd suggest talking with your bank for financial advice and possible member discounts. Thats the best I can do for you here.

Response by SFC George Smith made Mar 7 at 2017 6:44 PM

SFC George Smith — Tue, 07 Mar 2017 18:44:21 -0500

Never finance thru the Dealership Unless You are doing it as a last resort... Check with you Bank ot USAA
Remember when you Buy a Used Vehicle You are getting someone else ' Headaches...

Response by PO1 Tony Holland made Mar 7 at 2017 8:35 PM

PO1 Tony Holland — Tue, 07 Mar 2017 20:35:24 -0500

Better yet, talk to USAA or your credit union --- both are preferable to most banks.