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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 latest Experian State of the Auto Finance Market report found the average term for new car loans—the number of months it takes to pay off loans on new cars—rose to 68.48 months in the ...
Interest rates should moderate. ... Average new car loans are around 8% APR for a five-year auto loan, according to Fed data. ... there are now 1 million more new vehicles to choose from in 2023 ...
Purchasing a used car is usually cheaper than buying a new one. If you finance the vehicle, you'll generally pay less per month, and it won't depreciate as quickly as a new car fresh off the ...
If you plan on buying a used car in the Midwest, you can expect to save some money compared to buying a new vehicle. And since new cars depreciate the most in the first years after leaving the lot ...
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