The average range of car interest rates will vary depending on your credit rating. Someone with an excellent rating should be able to get an interest rate of 2.99%. Those that have a bad credit rating could be quoted rates as high as 19%.
Whether your used car loan has a high interest rate depends on who you talk to or ask. Although, yes, used car loans have medium to high interest rates.
If you cannot afford a new car, but considering to buy a used car and want to know about how much are the interest rates for new vehicles, then the answer is around 100-500 dollars.
It can range from high to low. Depends on your dealer and bank. Check with consulting at the bank or car dealer. Each car is different so interest rates can vary.
The interest rates at the Bank of America on a loan for a new car is as low as 2.24%, for a used car as low as 2.29% and for if you want to refinance it can be as low as 2.44%.
"Depending on the type of car you own, the year of the car, the state you reside in all are factors in interest rates. Interest rates can vary from 2.2% up to over 7.5%!!"
Auto interest rates are primarily dependent upon your credit history and your relationship to the lender. So whether the car is new or used should not matter.
High interest rates increase the cost on the ability to buy a house or a car.
In short, many variables are to be considered. Rates are not only based on the product you purchase but mostly on your credit rating. A bad rating means that you will pay a higher interest rate.
Interest rates are dependent on your credit as well as your income/debt ratio. The lowest interest rate is 0% but the current interest rate for a new car loan is 6.28% for 48 months.
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Auto loan rates vary depending on how long one takes to pay off the car and whether it is new or used. For a 60-month new car, the interest rate is 4.1%. For a 48-month new car, the interest rate is 4.02%. For a 36-month used car, the interest rate is 4.69%.