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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.
Here are five ways to get the best auto loan rates as a first-time car buyer. Build Your Credit Score. The better your credit score, the better your interest rate. Super prime credit is between ...
Credit score. Average interest rate for new car loans. Average interest rate for used car loans. 781 to 850. 5.61%. 7.43%. 661 to 780. 6.88%. 9.33%. 601 to 660
Buying a car is a major financial commitment, and for most people, it involves taking out a loan. Along with the loan comes interest, which is the cost of borrowing money from a lender. Read Next:...
Over the course of a 60-month loan, the person with good credit will pay around $5,600 in total interest, while the person with poor credit will fork over a whopping $17,300 in interest fees. That ...
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