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For first-time car buyers, one of the most daunting parts of negotiating a good deal right now is interest rates.The average auto loan rate for someone with excellent credit is 5.25%, according to ...
A good auto loan rate is generally any rate below the average for your credit profile. For drivers with excellent credit, the average rates are 5.07 percent for new cars and 7.09 percent for used ...
When you refinance an auto loan, you essentially swap your current loan for a new one. Refinancing can help you secure a lower interest rate, a more affordable monthly payment, or a different ...
The borrower then pays off the financial institution the same as for a direct loan. [citation needed] Typically, the indirect auto lender will set an interest rate, known as the "buy rate". The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate".
Fed rate cuts could make auto loans a better deal. If your current auto loan is high-interest, see if you can save money by refinancing your car.
Pressing the restart button on your auto loan by refinancing is not without its risks. Consider these disadvantages. High interest rates. Refinancing also comes with the risk of higher interest rates.
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