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See how the average used car loan rates in your state compare. ... Average APR for a used sedan: 13.72%. State average APR for a used vehicle: 12.59%. Ultima_Gaina / Getty Images. Wisconsin.
What to look for: Suncoast Credit Union offers new and used car loans with APRs as low as 7.00% for up to 72 months. Eco-vehicle rates start at 6.75%. Eco-vehicle rates start at 6.75%.
Auto loans are typically offered with terms of 48, 60, 72 or 84 months. When new car borrowers are segmented by credit score, however, average loan terms for all but the most creditworthy ...
As with other types of loans, the overall cost of a car loan comes down to one major factor: the annual percentage rate. The APR includes both interest and lender fees, expressed as a percentage.
The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate". [citation needed] These markups have been the focus of some regulatory scrutiny because they can cause variations in interest rates that are not correlated with credit risk. [2] Car financing options in the United Kingdom similarly ...
If you plan on buying a used car in the Midwest, you can expect to save some money compared to buying a new vehicle. And since new cars depreciate the most in the first years after leaving the lot ...