What Is The Average Interest Rate For A Used Car Loan?

What is the average interest rate for a used car loan? On an average, interest rates for car loans can be anywhere from 8 to 12 percent. The rates are all across the board. They can be from 8-12 percent....

The rates are all across the board. They can be from 8-12 percent. It does depend though on year, make, and model of the vehicle. Interest rates are lower for shorter term, higher for longer terms. The average car loan is about 62 months, around $19,000-$20,000, probably around a 10 percent rate.


Q: What is car loan rate for a new car?

Drop about two percent. It is probably around a 6-9 percent rate.


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