Current Events > What amount of interest on a car loan is acceptable?

(+) Yeah! (+)

Other than 0%, which I'd like to get but I'm not sure if the dealer will give me.

I have more than enough cash to buy a car outright, but I'd rather invest it than hand it all over at once. Is 1% the max worth considering? 2%? Let's say final price is around 30k.
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Depends how bad you need a car and how good your credit is.
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What kind of return do you plan to get with your investments
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weAREtheB0RG posted...

Depends how bad you need a car and how good your credit is.

My credit is excellent. I do need a new car before my ancient one eventually dies.

emblem boy posted...

What kind of return do you plan to get with your investments

More than 2% I hope, but I'm pretty risk averse.
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Do you have good credit? Then anything under 4 or 5% should be acceptable.

If you have no credit or meh/bad credit then good luck getting anything under 9 or 10%
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But since you have excellent credit then I'd say you shouldn't settle for anything over 3%
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7% seems insane, since the highest I've ever seen advertised is 2.99%. They can fly a kite if they want that much, I'll buy a car somewhere else.
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Right now 1.99% is about as high as Id be comfortable with.
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winters coming, just buy a 1k beater cash and then sort it out in the new year
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Frostshock posted...

7% seems insane, since the highest I've ever seen advertised is 2.99%. They can fly a kite if they want that much, I'll buy a car somewhere else.

Well depends on what you want. You just missed all the liquidation events for the 2017 models and 2018 models are dominating lots right now. You could still get a good deal on a new 2017 but you might limited in trim options. Of course this is "the time" to buy a new car and get those "brand new" offers so...
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If you are an 800+ than 1-2% should be fair. Make sure they shave down the price on their dealer installed options. Youll save thousands by just having a 5-10 conversation.
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Egamer117 posted...

5-10 conversation

You lost me here. What?

But I'll definitely try to negotiate any add-ons, I'm not at all confident in my ability to haggle the base price much (I'm armed with a fairly useless """invoice""" price and that's about it).
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Youll save thounsands by having a 5-10 minute conversation. My bad
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Oh, I see. Yeah, I'm very likely walking out without purchasing anything today. But if things look good I'll probably be back on Monday to hammer out details. I need time to review all paperwork.
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This ended up being a moot question, since apparently my credit score is in the 800s. I should have no problem securing 0% interest.

I was pretty happy with the car and the negotiated price, so I'm likely going to pull the trigger after the weekend.
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What car are we talking about bro?
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Super Saiyan 3 Goku posted...

What car are we talking about bro?

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I can't really match trims to the US because Mazda is weird...

https://www.mazda.ca/en/vehicles/mazda3-sport/overview/

In Canada, it's the GT.
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