Quick Answer: What Is The Average Interest Rate For A Car Loan With Bad Credit?

Quick Answer: What Is The Average Interest Rate For A Car Loan With Bad Credit?

The Average Interest Rates for Car Loans with Bad Credit

Average New Car Loan Interest RateAverage Used Car Loan Interest Rate
Prime (661-780)4.16%5.68%
Nonprime (601-660)7.05%10.44%
Subprime (501-600)11.35%16.92%
Deep Subprime (300-500)14.07%19.81%

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What is the average APR for a car loan with bad credit?

However, the lower your score, the more you can expect to pay. Experian Automotive found that for buyers with the lowest credit scores — below 550 — the average interest rate on a new vehicle loan was just below 13% and, on a used vehicle loan, just below 18%, according to Zabritski.

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