what’s a good interest rate for a car loan

Best answer

3 percent to almost 14 percent

People also ask

  • How to get the best interest rate on a car loan?

  • Ultimately, the most useful thing that you can do to get the best interest rate on a car is to come prepared. The best way to do this is to look up your credit history and subsequent credit score. A higher credit score signifies to lenders that you have a history of paying your bills on time, which results in a lower interest rate and vice versa.

  • What is the average interest rate for refinancing a car?

  • Refinance Car Loan. The current national average interest rate for a five-year new-car loan is about 4.77 percent, and the average for a three-year used-car loan is 5.35 percent. To get current average auto loan rates, we looked at rates from MyAutoLoan for new-car loans, used-car loans, and car refinance loans for people with different credit…

  • What credit score is needed to get the lowest auto loan rates?

  • Credit scores of 719 (for a new car) or 655 (for a used car) or higher will help you qualify for the lowest auto loan interest rates.

  • What are the average auto loan rates for fair credit?

  • Average Auto Loan Rates for Fair Credit. When your credit score is in the 600s, it starts to get expensive to borrow money. We found average loan rates for this credit tier to be more than 7% for buyers of a new car. On the bright side, the rates for car loan refinancing are still relatively low for these borrowers.

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