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While the current average interest rate for a new car loan is 6.84%, automakers are offering more financing deals to bring more consumers in the door, especially given the fact that new car sales ...
Using Edmunds.com’s APR Car Loan Rates from August 2024, the auto loan rates were found for SUVs, trucks, electric cars and sedans, as well as state averages. All data was collected on and is up ...
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 ...
For example, with a loan of $15,000, an APR of 5.00% and a term of 5 years, or 60 months, the total interest would be $15,000 x 0.05 x 5, which equals $3,750.
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 ...
Currently, the average new car loan rate that consumers are receiving is 9.3%. Well-qualified borrowers receive lower rates and can be expected to see even more low rate offers.
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