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Interest rate

robertbarnes62

Rookie Expediter
Offline
that all depends on your credit, and who your finance company or bank is, it could range from 3 to 30 per cent.
wow, I didn't know it would range all the way up to 30%. I knew the credit score would play a major role.

Thanks for your input on this.
 

robertbarnes62

Rookie Expediter
Offline
it also would be effected by how much you put in as down payment or trade.

oh ok. So a bigger down payment may lead to a smaller interest rate. That is good info to know. What kind of down payment is typically used? 10% is what I was thinking.
 

Dynamite 1

Moderator
Staff member
Fleet Owner
Offline
We pay 5% a year on the balance on our lines of credit. Borrow 30k pay 1500 in interest for a year. If balance is 15k At the start of the next year the interest is 750. They also prorate for early payoff.
 
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