Alright, in the spring I bought a car, i my dad bought it and i was just paying him for it monthly, but Id like to get a loan and pay it all off from my dad as well as pay off my credit card....so im looking for a $9000-$10,000 loan. Now my bank (ATB) has given me an intrest rate of 10.5%, now im not the brightest man on the face of the earth but I KNOW thats pretty high.

They had originally came to me with an intrest rate of 11.5% and then i told them it was waaay to high and I wanted them to try to bring it down it came down 1% after she asked. But is 10.5% still the best I can get?? I mean with my dad co-signing, hes got perfect credit.

I dont have the credit rating or assets to get a loan with out a co-signer.....but my dad is willing to co-sign, but why is the intrest rate they want to give me so smokin high?

I'll ask if therez a way to get a lower interest rate dude. 2 people in my family work ina bank and one does that sort of thing. [img]graemlins/thumb.gif[/img]

Typically used car rates are very high. 10.5% is extrely high. Shop around at different banks.

Thats the thing though, Im getting a personal consolidation loan...not a car loan.

I'm not too sure on this but I think different banks have different rates. I'm 19 and for a loan of 10 grand the interested rate way 8.5%.

bill consolidation loans have a much higher intrest rate than a car loan .........

Is your dad charing you interest on the loan>?

If not, pay off your credit cards right away (they charge the highest interest) and pay your dad whatever arrangment you already established with him.

hell you can get a visa with a 10% rate on it, banks are high at 9% usally(thats with good credit)

just get a credit line its 8%. royal or CIBC have them.

nothing else that I know of.

Unsecured loans will always result in higher interest rates.

Will they be putting a lien on the car? That might help somewhat.

But if your dad is ok with the arrangement, I'd suggest following KillerGrand's advice

where are you getting your loan transcanada or citifinacial?
rates are double of what i get