Credit Report, Vehicle Loans, Car Loans, Liberty Buick GMC, Charlotte NC, Interest Rates, Bad Credit


At Credit Capitol we do more than find you vehicle loans. We make sure all of our customers are informed and prepared to find the best interest rates on whatever they may buy. This is especially helpful for those with credit issues. The truth is, just because you have bad credit, you don’t have to pay exorbitant fees.


The key to finding the best interest rates is knowing some basic information on how they work. And anyone looking to finance knows the rates are constantly changing. But why do they change? What it boils down to is supply and demand. Since interest can best be defined as the price of borrowing money, it makes sense that when supply of a product is up, lenders raise the rates so they can make more money. When supply is down, lenders lower the rates in the hopes of generating more business. Other factors, such as economic conditions, aid in the fluctuation of interest rates as well. And with these things in mind, it is best to consider if supply is up or down on that new vehicle you are looking at. You might also want to look at the current state of our economy. Are gas prices up or down? This could drastically affect the cost of borrowing money for a large SUV versus a small, four-cylinder sedan.


So what are the current rates? Well, that depends on why you are borrowing money. For vehicle loans, the current rates are around 4.46%. Not a bad rate, but this number can vary depending on where you borrow the money.


The best piece of warning when shopping around for rates is to make sure you are using a company that has your best interests (no pun intended) in mind. Many credit companies love to claim themselves as heroes for those with poor credit, when in reality they are hiding extra fees and penalties in order to make you pay more than you should. Find a reputable company, like Credit Capitol, and let them find you the best possible rate no matter how bad your credit is.


-Andrae Bergeron