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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.
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 ...
For example, an Experian study found that in the second quarter of 2024, the average APR for an auto loan borrower with a credit score of 781 to 850 was 5.25% for a new car. In contrast, borrowers ...
The average APR for a car loan is 7.1%, which is the highest it’s been since 2007. Ivan Drury, Edmunds’ director of insights, had the following to offer on the subject: “The double whammy of ...
When you search "average APR for car loan" you'll be met with some statistics, but they mean nothing without an understanding of your own financial situation and how car loans work.
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