Money Tips

Why should you take a financial education class?

We work hard for our money and want and need it to go as far as possible. Regardless of the kind of deal we negotiate, our credit score can cause us to pay thousands of dollars more for an item over the life of the loan. See the chart below. The money we pay in interest, we need back in our household to live on. When you think about it, we take out many loans in our lives. Learn how you can improve your finances and credit and put that interest money back in your budget. Sign up for one of our classes today.

Sample Nearly New Car Loan Rates Based on Your Credit Score (2019, 2018, & 2017 model years)
Interest rates also vary by lender.

Term Level 1 APR
760 and over
Level 2 APR
720-759
Level 3 APR
680-719
Level 4 APR
640-679
Level 5 APR
600-639
Level 6 APR
599 & under
24 Months 3.50% 3.75% 4.50% 5.60% 8.00% 12.00%
36 Months 3.85% 4.10% 4.85% 5.95% 8.35% 12.35%
48 Months 3.90% 4.15% 4.90% 6.00% 8.40% 12.40%
60 Months 3.99% 4.25% 4.99% 6.10% 8.50% 12.49%
72 Months 4.25% 4.50% 5.25% 6.35% 8.75% 12.75%
84 Months 5.00% 5.25% 6.00% 7.10% 9.50% 13.50%

cartoon car

Purchasing a Car

Level 1 Credit - Credit score of 760 and over
Amount Financed: $25,000
Interest Rate: 3.99% for 5 years
Monthly Payment: $460
Interest of the life of the loan: $2,618

Level 6 Credit - Credit score of 599 or less
Amount Financed: $25,000
Interest Rate: 12.49% for 5 years
Monthly Payment: $562
Interest of the life of the loan: $8,739

High Interest Loan
Amount Financed: $25,000
Interest Rate: 17.99% for 5 years
Monthly Payment: $635
Interest of the life of the loan: $13,082

High Interest Loan
Amount Financed: $25,000
Interest Rate: 30.00% for 5 years
Monthly Payment: $809
Interest of the life of the loan: $23,530

 

cartoon house

Purchasing a House

Level 1 Credit - Credit score of 760 and over
Amount Financed: $200,000
Interest Rate: 4.025% for 30 years
Monthly Payment: $957.72
Interest of the life of the loan: $144,777.54

620 is the lowest score
Amount Financed: $200,000
Interest Rate: 5.481% for 30 years
Monthly Payment: $1,133.19
Interest of the life of the loan: $207,950.19

 

Sign up here to subscribe to our Money Tips.