[bjstyl2]

I am looking to purchase a used vehicle and am contemplating getting a personal loan of about $5000. My credit score is OK at over 600.

Are there any better options?
Or what type of rates should I be looking for?

I am in NJ.

[bEaUtIfUlbRuNeTtE]

If you had a perfect credit score, then interest rates should be of no worry to you.
The lower your credit score is, the higher interest rate you'll get.

[jakester]

I am looking to purchase a used vehicle and am contemplating getting a personal loan of about $5000. My credit score is ok at over 600.

Are there any better options?
Or what type of rates should I be looking for?

I am in NJ.

Hello -

A personal loan for a used vehicle is not the best option. Personal loans are higher interest rate loans than an auto loan and given your credit score, you would definitely want to consider an auto loan over a personal loan.

To give you an idea of what rates you'd be looking at in general (without the lender checking your credit) check out these links:

Mortgage Loans - Compare Mortgage Rates - MSN Money... (personal loan)
Auto Loans - Compare Auto Loan Rates - MSN Money... (auto loan)

If you can be real aggressive at paying down debt, take advantage of a credit card offer for 0% financing over 12-14 months. Take a direct deposit payment from the creditor, have your bank give you a certified bank check and bring it to the dealer in the amount of $4200 and tell them this is all you have to pay for a used car, take it or leave it. You can play a little hardball with the dealer and get a better price. Plus, you'll get 0% financing over 14 months and pay $350 a month. Again, this is very aggressive, I know and if you couldn't afford that much of a payment, then don't take my advice. But it is a unique strategy that can work... I've done it before.

[TheCleaner]

A little over 600 won't do. You are looking at a subprime loan putting the car as collateral and at least 20% APR, No cheap unsecure personal loans under 680 that I know of.