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% |
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
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