The average interest rate for car loans is between 4 and 4.5% for the last few months. A car loan for 3 years is slightly cheaper than the car loan for a longer term.
What qualifies as a good interest rate depends on the loan. There are car loans, mortgage loans, home equity loans and personal loans. The interest rate for each loan differ.
The average interest rate on a Barclays personal or car loan is 5.1% when you apply online or by phone. They also offer a price guarantee. If you find a better rate, they will match it.
The interest on used car loans are definitely higher than new car loans.The rate is higher because the car is usually not bought from a car sales house
The interest rate for loans for new cars varies depending on many factors. Some factors that determine interest rate on new car loans include your credit, the company you are taking the loan out from and more.
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.
There is a wide variety of interest rates on car loans out there. The interest rate will depend on wither it is a new or used car and if you get the loan from a bank or a credit union. The average for 2011 according to USAToday is 6.21% which is the lowest it has been in years. So Anything around that or below I think would be your best bet!
Yes, people with bad credit generally pays more for car loans. This is solely due to the interest rate that the person with bad credit has to pay. The higher interest rate adds more to the total amount of the car loan.
The interest rate on auto loans for 60 months is currently 4.1%. The rate for 48 months is 4.02%, and for 36 months it's 4.69%. Compared to several months ago, the rates have slightly decreased.
To apply for a car loan at a low interest rate you can go to CIBC, TD Canada Trust, The Approval Centre, Credit Talk, Chase Auto Finance, and Car Loans Canada.
A good credit score for getting a car loan is 740 to 850, and the interest rate is only 3.2% on average. An average credit score is 680 to 739, and the interest rate is 4.5% on average. A sub-prime credit score is 680 and below, and the interest rate is 6.5% to 12.9% on average.
One can find low interest rate car loans from a number of companies. They can be found from companies including 'Bankrate', 'Capital One' and from 'AAA'.