Average Interest Rate For Used Car Loan 2024. New car price trends (monthly updates) free car buying help is here! The average auto loan interest rates across all credit profiles range from 5.64% to 14.78% for new cars and 7.66% to 21.55% for used cars.
The average interest rate on a new car loan with a credit score of 650 is 9.60%, while the average interest rate on a used car loan is 14.12%. New car price trends (monthly updates) free car buying help is here!
Getting A Car Loan When Your Credit Is Between 600 And 699 Can Be Significantly More Expensive Than It Is For Borrowers With Better Credit Scores.
Best from a credit union:
However, The Average Car Payment For Used Vehicles Increased By Just 0.8%.
The average car payment for leased vehicles increased at a comparable 4.6%.
In April 2024, Automotive Site Edmunds.com Listed The Average Car Loan Interest Rate For March 2024 As 7.2% Apr For New Car Loans And 11.9% Apr For Used Car Loans.
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According To Edmunds.com, The Average Car Loan Interest Rate In November 2023 Was 7.4% Apr For New Car Loans And 11.76% Apr For Used Car Loans What Are Used Car Loan Interest Rates?
Even if you can afford to buy a used car outright, it can sometimes be advantageous to obtain a loan.
See Rates For New And Used Car Loans And Find Auto Loan Refinance Rates From Lenders.
However, the average car payment for used vehicles increased by just 0.8%.