When will the recent federal reserve rate cuts translate into a significant rate drop in auto loans?
I have a current auto loan with a fico score of 697. My interest rate is 11% for 72-months. I am looking to refinance this auto loan.
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Comments
One Comment on When will the recent federal reserve rate cuts translate into a significant rate drop in auto loans?
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Jessica S on
Mon, 8th Feb 2010 4:23 am
The banks are very cautious now and may not pass on the low interest rate to consumers since they are hit by many bad loans. They may drop interrst rates but not at the same rate as Fed. They have to cushion and make profit.
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