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Average APR for a used sedan: 10.83% State average APR for a used vehicle: 10.62% Methodology: For this study, GOBankingRates analyzed each U.S. state to find the average auto loan rates.
According to Experian, the average loan length for a used car loan is 67.4 months. With an average interest rate around 10.488%, you'll pay around $6,508.90 in interest over the life of the loan ...
As with almost everything else, car payments became much more expensive in the last year, and 2024 isn't looking any better. Consumer Reports explained that the car market has become increasingly...
While sticker prices and financing rates have soared (the average APR for used vehicles was 11.1% in April, per Edmunds), it’s your duty to comparison shop and negotiate better price and terms ...
The average auto loan balance held by consumers in the United States increased 5.2% to $23,792 in 2023, according to Experian data. ... Average new car loans are around 8% APR for a five-year auto ...
When you search "average APR for car loan" you'll be met with some statistics, but they mean nothing without an understanding of your own financial situation and how car loans work.