Interest Rate For Car Loan

Enter an interest rate based on your.

Interest rate for car loan. The average auto loan interest rate was 5 61 for a new car and 9 65 for a used car according to experian data from the first quarter of 2020. Should you consider it. Use the chase auto direct free auto loan calculator to learn how much you can afford. Purchase your next car with confidence.

The interest rate that you get on the loan has a dramatic impact on these numbers. That s more than a third of the car s purchase price of 36 000 and about. Head to the dealer. Getting a car loan when your credit is between 600 and 699 can be significantly more expensive than it is for borrowers with better credit scores.

Auto loan interest rates vary by the buyer s credit. Interest rates are always a very big part of any loan. At 15 72 the average new car interest rate we found for people with poor credit the total interest comes to 12 965. Current auto loan interest rates.

The monthly payment on. In fact the current average interest rate. Consider how the numbers change if you had to pay a 6 rate instead of 4 for the same car. A 5 year fixed rate new car loan for 37 000 would have 60 monthly payments of 660 each at annual percentage rate apr of 2 69.

Getting prequalified for an auto loan is an easy process that can yield big rewards.