What is a Good Interest Rate for Your Car Loan?

Car Loan
 

What is a good car loan rate? What is the average interest rate on a car loan? The answer to these two questions depends on your credit score. Thankfully, you’ve got the experts at Deyarman Automotive to help you out. Drivers in Pella asking, “What is a good interest rate for a car loan?” should read this guide and get the facts. Then, they should come to Knoxville to take a test drive of one of our many new and used vehicles. Deyarman Automotive is here to help you make the most of your next car purchase.

New and Used Car APR

Your car loan rate depends on what credit score you have. What is a good interest rate for a car loan with your credit score? Check out our handy fact sheet to see for yourself:

Average Credit Score for New Car Annual Percentage Rate Average Credit Score for Used Car Annual Percentage Rate
781-850 3.17% 781-850 3.8%
661-780 4.03% 661-780 5.48%
601-660 6.79% 601-660 10.1%
501-600 10.98% 501-600 16.27%
300-500 13.76% 300-500 19.32%

 

How Do You Get the Best Interest Rate?

What is a good interest rate on a car loan when you have bad credit? No matter your credit history, you’ll want to plan ahead. The higher your credit score, the less you’ll pay in Indianola when the bill comes due. You should also be ready to negotiate. What is a good car loan rate? Based on the chart we just showed you, Southeast Des Moines drivers should expect to pay between 3.17% and 13.76% depending on credit score. Plan the rate you want and be prepared to negotiate if you’re offered something higher. Don’t just focus on the payment. Pay close attention to the details.

What is the Average Interest Rate on a Car Loan?

What is a good car loan rate on average? On a three-year car loan, the typical interest rate is between 3% and 4.5%. What is the average interest rate on a car loan for your preferred loan term? You should shop around to get the best deal. We suggest using our pre-approval form to see what we offer. We also encourage you to shop around.

Take the Next Step With Deyarman Automotive 

Our finance professionals are ready to help you make a smarter choice next time it’s time to buy a car. What is a good interest rate for a car loan when you go with us? We suggest getting in contact with Deyarman Automotive to ask us for yourself. We’d be more than happy to have a chat with you regarding your finance options.

 

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