[childofbodom27]

hey guys, if anyone knows about financing please i need your help. My sister is trying to get a car, a 3-series sedan and the vehicle costs about 23,000. The guy at the used car dealership said that with a co-signer, who she has, my dad. My dad has about 780+ credit score and he wants to put $5,000 down. The guy said with a 72 month payment plan it will be 12% interest rate. Doesnt that sound alittle too high? even with my dad co-signing for her. btw we live in CA if that helps with the current rates.

[335iheLLraiseR]

the problem with cosigners is that even though they may have great credit, the primary borrowers credit still affects the decision. (kinda like if you average out an A+ and an F, you get a C.)

i would just buy it in your dads name if i were her.

[NPDAN]

and when your buying used, the interest rates are higher. So yea, the 12% does sound about right.

[335iheLLraiseR]

^^^^^^^yup, that too.

[norcalEastbay328i]

yea used cars intrest rate is high high high sometimes u can lease a new bmw with the same price as certain used. either do it under ur dads name straight or get outside financing. btw what kinda payments they work u out to????????

[imolazhp_ci]

no way it should be more than 9% no way at all...

[phantom330]

did you post this twice?

[imolazhp_ci]

Originally Posted by norcalEastbay328i

yea used cars intrest rate is high high high sometimes u can lease a new bmw with the same price as certain used. either do it under ur dads name straight or get outside financing. btw what kinda payments they work u out to????????

give that guy his deposit back or whatever.

[epbrown]

I take it this car isn't a 2004 CPO? BMW's giving 2.9% APR on those right now, you know.