Average Interest Rate For Car Loan 2024. Andrew pentis, cnn underscored money. Here’s what to expect, auto experts say.
Average auto loan rates for fair credit. Updated 9:48 am edt, thu february 29, 2024.
Auto Loan Rates Typically Range From 3% To 20%, Which Is Lower Than Other Loan Types, Such As Personal Loans, Which Can Reach Up To 36%.
The average buyer may pay around 6.7% and 9% interest on their car loan, depending on whether the car is new or used, their credit score, the purchase price of the car and whether the loan is based on a fixed or variable interest rate.
Your Interest Rate Is 6.5 Per Cent, Your Monthly Payment Is $489 And Your Total Interest Paid On The Loan Is $4,349.
Average used auto loan rate.
The Average Auto Loan Interest Rate For New Cars At The End Of 2023 Was 7.18 Percent, While Used Cars Had An Average Rate Of 11.93 Percent.