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In Maryland, the average APR for a used car loan is 7.10%, while in Mississippi, it’s 13.40%. See how the average used car loan rates in your state compare. ... Cars for High-Mileage Adventures ...
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 ...
The average car loan term is 68.48 months for a new car and 67.41 months for a used car, or close to six years, according to Experian data. The average length of auto loans for new and used ...
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 ...
The borrower then pays off the financial institution the same as for a direct loan. [citation needed] Typically, the indirect auto lender will set an interest rate, known as the "buy rate". The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate".
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