Car Loan Rates these days, what is a good rate going into 2021??
Hi Mirage Forum folks,
I've had my Mirage almost 7 years now, and I have thought maybe it's time for a change with my car. My friend at work says my car is Tokyo drift and fun since he was in it 7 years ago once. Anyway.. considering a new car and keeping my Mirage for future upgrades.. and even though I still have warranty left I think my 10 year plan might be over. People just don't show any respect for small cars, so I am done with them maybe.
On one of the threads the other day people got talking about mortgage rates, and car loan rates. I know people can get sucked into a real financial mess with shoddy house reno with they see a pretty For Sale sign.. where the house looks good but the bones are rotten in the house. Fake electrical, shifty roof with 8 layers. These sorts of scenarios and there are more. Same with used cars, lots of money pit junkers out there in the used car market. My 2014 Mirage is a good used car, however has a few parking lot dents and duct tape on the car mat and my car is a manual so that make it harder to sell maybe.
I have a 2.99% 84 month loan on my 2014 Mirage, and I am at month 80 now so I wonder what a good car loan rate is these days, if things have gone up or down in the market place. I suppose every country is different, I would like to live in a country with no insurance but I dont. I am born and raised in Canada. I'm sure, and just assume, that our insurance rates in Canada are altogether through the roof expensive....
*2.99% loan on my 2014 Mirage works out to like $1,495 on top of my Mirage's full car loan. So seemed cheap compared to keeping my old Ford on the road. Now I wonder the same about my Mirage, however seems 100% good, mint shape and reliable car. Just people don't seem to see my car. Maybe a Mirage is a summer car more than a winter car.
Last edited by dspace9; 12-04-2020 at 02:34 AM.
View my fuel log 2014 Mirage ES 1.2 manual: 42.2 mpg (US) ... 17.9 km/L ... 5.6 L/100 km ... 50.7 mpg (Imp)