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See how the average used car loan rates in your state compare. Check Out: These 10 Used Cars Will Last Longer Than an Average New Vehicle. ... State average APR for a used vehicle: 10.62%.
Average Used Car Loan Term. ... Consider the following comparison of total purchase costs for a new vehicle, based on a 6.84% interest rate (the average for Q2 2024, according to Experian data), a ...
The average monthly payment for each city was calculated using the average interest rate of a prime borrower (5.38 percent) and a 60-month term. Income statistics were retrieved from the U.S ...
Average new car interest rates ... Over 85% of new cars and half of used cars are financed (as opposed to being paid for in a lump sum with cash).
Interest rates play a crucial role in shaping the true cost of a used car. The more expensive the car, and the higher the rate, the more expensive the monthly payment will be.
Average car loan interest rates impact the auto loan you qualify for, and understanding auto loan interest and your credit score can help you make a smart buy.
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