Auto finance rates have dropped significantly, so now is an excellent time to shop for a new or used vehicle. If you are already paying on an auto loan, you may be able to refinance for a better rate.
Read below to get insights into current auto loan interest rates, or use the car loan calculator to customize your experience.
- Shorter terms give you lower interest rates but higher payments. New and used car loans are typically granted in 3-year, 4-year, 5-year, and 6-year contracts. In today’s economy, a 3-year loan can cost you between 2.6% and 6.4% in interest for a new car and 2.8% to 14.8% interest for a used car.