Study: Good credit could save you thousands on a car
You could save more than $6,000 on your next car purchase because of your credit score.
Posted — UpdatedA new study reveals that credit score has a much bigger impact than many people realize on the interest you pay on car loans.
The report also shows the average loan interest rate for a new car is 16 percent less than the average used car loan.
WalletHub advises financing with the car manufacturer or at a credit union for the best rates, but it is very important to shop around.
Consumer Reports says to get the best deal on a car loan, put as much time into researching your loan as the car itself.
Now is the time buy a car, if you're in the market for a new vehicle. Cars are sitting longer in dealers' lots than at any time since 2009, so there are deals.
• Credits
Copyright 2024 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.