Average Car Apr 2024. The average price of a new car is more than $45,000, and a used car costs more than $26,000 on average. The average new car loan rate now sits at 9.58% — “the highest we’ve seen for more than 20 years.” the average used car loan rate sits higher at 13.98%.
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. The good news is that average used car prices have fallen for two years in.
New Car Costs Remained Highly Volatile Throughout Much Of The Pandemic.
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Step Back To 2021, And The Average New Car Loan Apr Was Around 5%.
The average auto loan interest rate for new cars at the end of 2023 was 7.18 percent, while used cars had an average rate of 11.93 percent.
See Rates For New And Used Car Loans And Find Auto Loan Refinance Rates From Lenders.
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Find out what this means for your own car loan —.
Consumers In Search Of A Used Car Will Find A Mixture Of Good News And.
See rates for new and used car loans and find auto loan refinance rates from lenders.