Does anyone know what the maximum interest rate for used vehicles in the state of Texas is?

Posted in: used vehicles | March 14th, 2010

PS. Do I have a period of time after the sale that I can return the vehicle.
On the tx attorney general web site it said there was a maximum interest rate on used vehicles.

That all depends on which rip-off dealer sells it..I have seen the "Buy Here, Pay Here" type of used car lots charge as high as 29.9%,,,Buyer Beware there is no return clause to a used car unless you get it in writing from the dealer…make sure you read all the paperwork and warranty, if it has one,,,,,most of those cars are sold "As Is" and once you sign the contract and take it off the lot…..it’s all yours’ with no return,,,and if you don’t make the payments they will reposess it in a heartbeat….Stick to a large reputable dealer with a used car section on his lot,,,you can usually do a lot better there….

4 Responses to “Does anyone know what the maximum interest rate for used vehicles in the state of Texas is?”

  1. picopico Says:
    March 14th, 2010 at 4:47 pm

    I don’t think there is a maximum on interest rates anywhere.
    References :

  2. Seven+ Says:
    March 14th, 2010 at 5:10 pm

    I don’t think that there is a maximum or minimum because it’s based on your credit. There is a section on your contract Terms and Conditions that will state whether you can return the vehicle once it has left the lot. Some car dealers do allot for a return after a certain amount of time, some do not.
    References :

  3. EBMT Says:
    March 14th, 2010 at 5:55 pm

    That all depends on which rip-off dealer sells it..I have seen the "Buy Here, Pay Here" type of used car lots charge as high as 29.9%,,,Buyer Beware there is no return clause to a used car unless you get it in writing from the dealer…make sure you read all the paperwork and warranty, if it has one,,,,,most of those cars are sold "As Is" and once you sign the contract and take it off the lot…..it’s all yours’ with no return,,,and if you don’t make the payments they will reposess it in a heartbeat….Stick to a large reputable dealer with a used car section on his lot,,,you can usually do a lot better there….
    References :

  4. dreagon71 Says:
    March 14th, 2010 at 6:26 pm

    I think the may is 28%, if it is higher then I would suggest you look elsewhere for a vehicle
    References :

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