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What is a good auto loan rate? A good auto loan rate is generally any rate below the average for your credit profile. For drivers with excellent credit, the average rates are 5.07 percent for new ...
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 ...
What to look for: NIH Federal Credit Union offers standard beginning APRs of 2.24% for new and used auto loans with terms of up to 36 months, 2.74% for auto loans from 37 to 48 months and 2.99% ...
One example of an online lender is LightStream, which offers low fixed rates as low as 3.99 percent APR for new cars. In addition to financing used cars and offering refinance loans, LightStream ...
Over 85% of new cars and half of used cars are financed (as opposed to being paid for in a lump sum with cash). There are two primary methods of borrowing money to buy a car: direct and indirect. A direct loan is one that the borrower arranges with a lender directly. Indirect financing is arranged by the car dealership where the car is purchased.
A second-chance auto loan is a type of financing lenders offer buyers with poor credit. Also known as subprime auto loans, second-chance auto loans are often buyers' last effort at getting funding ...
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