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At 72 months, the new car loan interest rate was at 7.62% in Q4 2024, the Fed reports. (These numbers are simple unweighted averages of each banks’ most common rate.)
Auto loan interest is the cost of borrowing money to purchase a car. The lender will look at your credit score, debt-to-income ratio and other factors to determine what interest rate it offers.
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While car prices and interest rates are on a downward slope, auto loan payments are still relatively high, according to a recent Experian study of its consumer credit database. Though the value of...
Unfortunately, he was roped into a two-for-one deal by the car dealers, which meant he took out an additional $11,704 loan to buy himself a 2016 Ford Focus, with a shocking interest rate of 24.39% ...
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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