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For first-time car buyers, one of the most daunting parts of negotiating a good deal right now is interest rates.The average auto loan rate for someone with excellent credit is 5.25%, according to ...
High Auto Loan Payments From An Earlier Era Persist. Why are more than 4% of drivers paying $1,000 or more in 2024, even though incentives are increasing and interest rates are falling?
Shopping around is the best way to compare your options. Here’s what to know.
The borrower then pays off the financial institution the same as for a direct loan. [citation needed] Typically, the indirect auto lender will set an interest rate, known as the "buy rate". The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate".
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Fed rate cuts = cheaper auto loan rates This September and November, the Federal Reserve announced rate cuts totaling 0.75%. These rate cuts will cause the interest rates on auto loans to go down.
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