Although there’s always going to be some wiggle room, the average used car loan interest rates are as follows: Excellent Credit (750 or Higher) – 5.1% APR. Good Credit (700 to 749) – 4.91% APR.
Keeping this in consideration, what is a good APR for a car 2021?
The average new car’s interest rate in 2021 is
Credit score category | Average loan APR for new car | Average loan APR for used car |
---|---|---|
Super Prime (781 to 850) | 2.34% | 3.66% |
Lender | Lowest Rate | Terms |
---|---|---|
PenFed Credit Union Best Overall | 0.99% | 36 to 84 months |
LightStream Best Online Auto Loan | 2.49% | 24 to 84 months |
Bank of America Best Bank for Auto Loans | 2.14% | 12 to 75 months |
Consumers Credit Union Best Credit Union for Auto Loans | 2.24% | 0 to 84 months |