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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.
Low-interest car loans often come with shorter finance terms. Depending on your income, a shorter loan term could make your monthly payment unaffordable. ... Average rate. 0% APR. $25,000. $25,000 ...
Average car loan interest rates impact the auto loan you qualify for, and understanding auto loan interest and your credit score can help you make a smart buy.
According to Experian, the average loan length for a used car loan is 67.4 months. With an average interest rate around 10.488%, you'll pay around $6,508.90 in interest over the life of the loan ...
Interest rates play a crucial role in shaping the true cost of a used car. The more expensive the car, and the higher the rate, the more expensive the monthly payment will be.
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