The Average Interest Rates for Car Loans with Bad Credit
|Average New Car Loan Interest Rate||Average Used Car Loan Interest Rate|
|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.
Photo in the article by “Flickr”