What Is Interest Rate On A Car Loan Now In March 2025 automotive site Edmunds listed the average car loan interest rate for February 2025 as 7 2 APR for new car loans and 11 3 APR for used car loans
What to know first The current auto loan annual percentage rate APR ranges from about 4 percent to 30 percent Average auto loan interest rates sit at 7 42 percent for a 60 month new car loan Getting a great deal on your used car loan interest rate is an excellent way to save money We ll show you the average rates available and some strategies to help you find low rates A prime risk borrower may need more than 100 of the new vehicle s value to pay off any remaining loan amount on what s now their old car which is now
What Is Interest Rate On A Car Loan Now
What Is Interest Rate On A Car Loan Now
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Average Car Loan Interest Rates by Credit Score Average rates vary widely from the lowest credit scores to the highest According to data from Experian s State of the Automotive Finance Market report for the third quarter of 2024 the average APR for a new car loan was 5 08 for super prime borrowers with excellent credit For example the average car loan interest rate for people with a 730 credit score is 6 70 percent for new cars and 9 63 percent for used cars while those with a credit score of 550 can expect an
Consumers Credit Union has low APRs all around but especially for used car loans its rates for used cars are the lowest we found in our research New car loans 4 99 17 54 These loans are typically secured meaning the car serves as collateral ensuring lower interest rates compared to unsecured loan options With terms that can adjust to fit your financial scenario auto loans present a flexible path to car ownership distributing the vehicle s cost over manageable monthly payments
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Interest Rates Estimates 2025 Bodhi Jensen
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Source Experian s State of the Automotive Finance Market report Q1 2024 Factors that affect auto loan interest rates Lenders use multiple factors when deciding what rate to charge for a car A car is an expensive purchase but choosing the right lender can save you thousands of dollars in interest charges and fees Plus you want your car shopping experience to be easy and transparent
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Interest Rates On Used Cars 2024 Clea Susanetta
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Used Car Apr 2025 Michael B Caesar
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What Is Interest Rate On A Car Loan Now - Average Car Loan Interest Rates by Credit Score Average rates vary widely from the lowest credit scores to the highest According to data from Experian s State of the Automotive Finance Market report for the third quarter of 2024 the average APR for a new car loan was 5 08 for super prime borrowers with excellent credit