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See how the average used car loan rates in your state compare. Check Out: These 10 Used Cars Will Last Longer Than an Average New Vehicle. ... State average APR for a used vehicle: 10.62%.
Average Used Car Loan Term. ... Consider the following comparison of total purchase costs for a new vehicle, based on a 6.84% interest rate (the average for Q2 2024, according to Experian data), a ...
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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In the used car market in the United States and Canada, buy here, pay here, often abbreviated as BHPH, refers to a method of running an automobile dealership in which dealers themselves extend credit to purchasers of automobiles. [1] Typically, purchasers of cars at BHPH dealerships have poor credit history, and loans have high interest rates. [1]
The average monthly payment for each city was calculated using the average interest rate of a prime borrower (5.38 percent) and a 60-month term. Income statistics were retrieved from the U.S ...
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