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Using Edmunds.com’s APR Car Loan Rates from August 2024, the auto loan rates were found for SUVs, trucks, electric cars and sedans, as well as state averages. All data was collected on and is up ...
But it will take a lot more than the single rate cut from the Fed to make a notable difference in auto loan rates. Since 2022, the higher rates have pushed the average new vehicle loan payment up ...
The Federal Reserve has cut its benchmark interest rate from its 23-year high, with consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses.
Currently, the average APR on a loan for a new car is 7.1%, and 11.3% for a used car, according to Edmunds. "A Fed rate cut wouldn't necessarily drive all those consumers back into showrooms right ...
The average new car loan rate is 9.61 percent while the used car rate is 13.91 percent, according to Cox Automotive. Auto industry analysts have been noting positive trends in consumer sentiment ...
Credit score. Average interest rate for new car loans. Average interest rate for used car loans. 781 to 850. 5.61%. 7.43%. 661 to 780. 6.88%. 9.33%. 601 to 660
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