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Average APR for a used sedan: 10.83% State average APR for a used vehicle: 10.62% Methodology: For this study, GOBankingRates analyzed each U.S. state to find the average auto loan rates.
Since 2020, the average car loan payment has grown by more than $100 to $644, average monthly credit card payments due have increased $50 to $202 and average monthly mortgage payments have ...
The average auto loan balance held by consumers in the United States increased 5.2% to $23,792 in 2023, according to Experian data. ... Average new car loans are around 8% APR for a five-year auto ...
Just as mortgage rates shot up after the pandemic, so too did auto loan rates. In 2019, 60-month auto loan rates on new vehicles averaged about 4.7%. However, as of July 2024, rates were at 7.89% ...
Average new car interest rates Commercial bank Auto financing companies. Average loan rate by credit score Q4 2022 ...
Purchasing a used car is usually cheaper than buying a new one. If you finance the vehicle, you'll generally pay less per month, and it won't depreciate as quickly as a new car fresh off the ...
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