Quick Tip: Consider buying a new car as interest rates hit 3-year low, WalletHub says

ByJason Knowles and Ann Pistone via WLS logo
Wednesday, July 29, 2020
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Anyone in the market for a new car should look at interest rates before buying.

Interest rates when buying a new car are at a three-year low compared to interest rates for used cars, according to one personal finance website.

Here is a quick auto tip: Consider buying a new car as opposed to used because interest rates are at a considerable low, according to WalletHub.com.

And when you are financing that new car, WalletHub says your best bet may be to finance through the manufacturer itself, or try and see if you could go through a credit union.

If you go through a traditional bank or another commercial bank, it could cost you 12% more the finance website says.