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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% ...
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.
According to the consumer financial website NerdWallet, the average auto-loan interest rate in the third quarter of 2023 was 7 percent for new cars and 11 percent for used cars.
With auto loan terms increasing—72- and even 84-month auto loans are becoming more common—it's perhaps less surprising that higher loan payments continue to persist, even as car prices and ...
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 ...
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