Question: What Is A High Interest Rate For A Car?

What is a high interest rate for a car loan?

Car loans come from banks, credit companies, and car financing companies.

While interest rates do vary from lender to lender, the average car loan interest rate currently can be anywhere from as low as 0% to as high as 5%.

What is a good interest rate on a car loan 2019?

Average Auto Loan Interest Rates: 2019 Facts & Figures. The national average for US auto loan interest rates is 4.21% on 60 month loans.

Is 10 percent interest high for a car?

Remember, you have to pay 10% interest on the balance on your loan, so the longer you owe money on your car, the more interest you have to pay. As you can see, the total interest charges you pay on the 60 month loan climb higher than those of the 48 month loan.

What is a good car loan rate right now?

Get current auto loan rates and choose a loan that’s right for you

Dates60-month new car36-month used car
9/25/20194.61%5.15%
9/18/20194.62%5.13%
9/11/20194.62%5.13%
9/4/20194.58%5.09%

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