Do banks have a cap on the interest rate they can charge on a auto loan?

Answers:1   |   LastUpdateAt:2012-08-21 05:00:26  

Question
Channin
Asked at 2012-08-15 10:32:34
So is the normal rate for a person with bad credit.
They charged me 33% on a new car , is this normal , I can do anthing to lower the rate .
Answer1aaliyhaAnswered at 2012-08-21 05:00:26
state mandated cap. you have to check with your state to find out what the maximum interest is that a bank or financial institution can charge for your state.
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