What is a good or average interest rate on an auto loan?
For a brand new car that is. I know it depends on your credit, so please don’t give me that answer. Still, even with good credit or average credit, how do I know the average interest rate for auto loan unless someone tells me please.
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the diff in good credit 3.9 %-7 % great credit 0-3%
or not so good credit 8-15% it really makes a big diff especially if your going new car. diffs in pmt could be
280-450.$ just from a higher rate
I’m not sure what the average is, but mine is 4.9%
Mine is 5.0 percent through my credit union
For good to average credit you can find out what the rates are in your area by visiting bankrate.com. I’ve included the link below.
When you visit the site select you state from within the lefthand box and click next. Avoid the center box it is an advertisement.
http://bankrate.com/brm/rate/brm_autosearch.asp
Theres actually not a fixed rate. There are many auto loan options available today. Today, stiff competition among auto loan financing companies<!–has made it possible to get a car loan or an auto loan at favorable terms.
http://badcredits.awardspace.com/autoloans.htm
However, before you sign the paper for financing your favorite set of wheels, do your homework to ensure that you get the best car–>finance option. You can apply for online car loans on the Internet, or get it from your car dealer.
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Refer Auto Loan Section.
http://lnk.in/56f2