Current Average Auto Loan Rate 2024. Auto loans typically require monthly payments over three to eight years, depending on your specific loan. We've rounded up average auto loan rates for this month, and we'll help you learn why a lower rate is better.
The most common auto loan terms are 24, 36, 48, 60, 72 and 84 months. The average interest rate on a new car loan with a credit score of 750 is 7.01%, while the average interest rate on a used car loan is 9.73%.
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We've rounded up the current average interest rates for new car loans,.
The Current Average Auto Loan Interest Rate Is 6.63% For New Car Purchases And 11.38% For Used Vehicle Purchases According To The Experian State Of The.
The latest consumer price index (cpi) report for march has thrown cold water on any hopes of a decrease in car loan interest rates for the remainder of 2024.
The Average Auto Loan Interest Rate In The Fourth Quarter Of 2023 Was 7.18% For New Vehicles And 11.93% For.
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Auto Loan Rates Saw A Relatively Steady Decline From 2006 To 2009, Falling From A High Of 7.82% In August 2006 To 6.59% In November 2009.
Average car loan interest rates by credit score.
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In april 2024, automotive site edmunds.com listed the average car loan interest rate for march 2024 as 7.2% apr for new car loans and 11.9% apr for used car loans.
