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See how the average used car loan rates in your state compare. ... Average APR for a used sedan: 13.72%. State average APR for a used vehicle: 12.59%. Ultima_Gaina / Getty Images.
The average car loan term is 68.48 months for a new car and 67.41 months for a used car, ... based on a 6.84% interest rate (the average for Q2 2024, according to Experian data), a $47,000 ...
The lower your score, the higher your rate. According to Experian data, the average rate for someone with excellent credit buying a new car was 5.61 percent in 2023. People with bad credit paid ...
As with almost everything else, car payments became much more expensive in the last year, and 2024 isn't looking any better. Consumer Reports explained that the car market has become increasingly...
The average auto loan balance held by consumers in the United States increased 5.2% to $23,792 in 2023, according to Experian data. ... Sharply higher rates for both new and used car loans ...
In 2021, the average car loan rate was 4.09%, while the latest data from 2023 came in at 7.03%, according to consumer credit reporting agency Experian. ... Even in this current high-interest-rate ...
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