Responsible-Pipe3143

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2025-02-26 03:13:59

Is 29.9% Intrest High on a Auto Loan?

You cannot finance a car for 29%. That would be one of the biggest possible financial mistakes you could make. There is nothing good that can come from doing that. And on top of that you say you want to buy a VW. That is one of the absolute worst brands of cars you could buy. Quality, resale value, reliability. I wouldn't touch a VW. I really really really wouldn't touch a VW with a high interest loan. I can't emphasize this enough. DO NOT DO THIS.

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Thanks for the guidance, which I'll follow; unfortunately, they already pulled my credit (was 718) now it's 638 and I for some reason really thought this is what I had to do to start building credit history to be trusted with lower interest rates. But thanks again

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That is an insanely high APR. Is it because you have no credit? Can you talk to your bank and see if they can give you an auto loan with a better interest rate?

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I do have a credit score (718 now 638) after the credit pulls but I just dont have significant credit history, according to him

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