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Posted in Auto Loans
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caavja

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in a car loan what kind of finanace rate should I respectfully request for according to my 800 score

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You may not have the choice.  But the dealership should calculate theings so that you will get the very best deal possible.  I just bought a car (first one ever in MY name!!YAY!!) and the manufacturer was offering 0% interest for 60 months OR $2500 cash back and finance the balance at my credit union rate (2.62% for 72 months).  The numbers were crunched and my credit union rate won.  I suggest possibly getting a pre-approved loan from your bank or credit uniion and go in ready to negotiate, and take advantage of all incentives possible.  If there are no incentives that will work, consider buying a one to two year old low mileage vehicle to get the maximum "bang for the buck."  It'll still last you about 10 years.

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Remember that most auto lenders will use Fico scores and not the scores you find on here. Typically, you do not tell the lender what rate they will give you and if dealing directly with banks sometimes there is little or no negotiation on rates. If financing through a dealership, then rates can usually be haggled on as the dealer is usually getting a cut of the interest rate. Let the lenders that you apply with give you some rates, sometimes it is better to apply with a few, rate shopping is important. When you get the rates, then you can try to haggle and see if you can get the rate down.

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