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Who it’s best for: Bank of America Preferred Rewards customers, who can receive a rate discount of up to 0.50%. What to look for: Bank of America’s car loan rates start at 5.89% for new cars ...
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 cars and 7.09 percent for used ...
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 ...
Methodology: For this study, GOBankingRates analyzed each U.S. state to find the average auto loan rates. Using Edmunds.com’s APR Car Loan Rates from August 2024, the auto loan rates were found ...
According to The Wall Street Journal, credit unions are particularly competitive on auto loans, with the average credit-union rates on eight types of auto loans beating the comparable bank figures by an average of two percentage points. [8] NASA Federal currently has a similar promotion that competes to lower an applicant's monthly payment. [15]
How the Fed affects auto loans. The Federal Open Market Committee sets the benchmark federal funds rate, which has a domino effect on auto loan rates.. How to save money regardless of the fed rate ...
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