Auto Loan Rates (new & used)
|Daily Periodic Rate||Approximate Term||APR* as low as|
|0.00819% ($18,000 minimum)||67-78 months||2.99%*|
In this way, what is a good interest rate on a car loan?
The average auto loan interest rate is 4.09% for new cars and 8.66% for used cars, according to Experian’s State of the Automotive Finance Market report for the second quarter of 2021. With a credit score above 780, you’ll have the best shot to get a rate below 3% for new cars.
Moreover, what is the average interest rate on a car loan with a 700 credit score?
People with good credit scores of 700–749 average an interest rate of 5.07% for a new car and 5.32% for a used car.
What is the average interest rate on a car loan with a 750 credit score?
In Florida, the maximum interest rate that can be charged is 18% for loans that are up to $500,000 and 25% on loans that are greater than that amount.
Instead, the company works through a network of about 11,000 local dealers to provide financing to drivers purchasing a new or used vehicle.
|Credit Score||Average New Car APR||Average Used Car APR|
|661 to 780||3.48%||5.49%|
|601 to 660||6.61%||10.49%|
|501 to 600||11.03%||17.11%|
Compare the Best Auto Loan Rates
|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|