Vehicle loan interest rate

A loan’s interest rate is a major factor in your overall loan cost—which is why researching and shopping around to find the best auto loan rate is a good idea when you’re buying a car. We’ve compiled a list of seven lenders offering the best auto loan rates for new and used cars. The lenders were evaluated on factors including the minimum annual percentage rates (APRs) of their loans, eligibility requirements and customer reviews. The exact loan terms and pricing you receive will depend on your personal financial profile. The ranking is based on the starting APRs—excluding rate discounts for automatic payments and other items—and minimum loan requirements of each lender. Details are accurate as of March 10, 2023. Consumers Credit Union offers terms from zero to 84 months to help borrowers who need to finance a short term auto purchase. Consumers’ loan amounts start at $7,500 with no maximum cap—you can borrow up to any amount you qualify for. If you qualify for a Consumers Credit Union auto loan, you can finance up to 100% of your purchase. You can also apply for a loan and sign documents online, over the phone or by visiting a local branch. Consumers auto loans are available for new or used vehicles, RVs, motorcycles and boats. Company Company - Logo Forbes Advisor Rating Forbes Advisor Rating - Image Minimum rate Loan amount Minimum credit score Learn More CTA text Learn more CTA below text VIEW MORE PenFed Credit Union 4.7 4.49% $500 to $150,000 PenFed does not disclose...

*Title and other fees and incentives are not included in this calculation, which is an estimate only. Monthly payment estimates are for informational purpose and do not represent a financing offer from the seller of this vehicle. Other taxes may apply. About your privacy: Cars.com is asking for your ZIP and credit rating because it helps us to make an educated guess at your sales tax and loan interest. These two factors can greatly change your monthly payment. Car loan FAQ How do car loans work? When you secure a car loan from a financial institution, you borrow the money required to purchase the car and pay it back over time with an annual percentage interest rate. What’s the term on a car loan? The car loan term is the length of time that you’ll be paying back the amount of money you borrowed. This typically ranges from 12 to 84 months in 12-month increments. What’s the interest rate on a car loan? The car loan interest rate is an annual percentage of the amount of money that you finance. It serves as the price you pay for borrowing money from a financial institution. What’s sales tax on a car purchase? Sales tax is a percentage of the car price that you owe to your state. Be sure to research how sales tax works for car purchases in your state – some states charge tax on the full price of the car you’re buying, while others charge no tax at all. Most states, however, allow a trade-in credit to offset the taxable amount of a car purchase. What's the trade-in value of a ca...

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict Our loans reporters and editors focus on the points consumers care about most — the different types of lending options, the best rates, the best lenders, how to pay off debt and more — so you can feel confident when investing your money. Car loan interest rates are determined by your credit score. The lower your score, the higher your interest rate will be. However, you don’t need a perfect score to get a good rate. To find the best auto loan rate , it is wise to shop around and work to improve your credit score if it isn’t in the best shape. Average auto loan interest rates by credit score Car loan interest rates are tied directly to your credit score. With that said, you can still get a decent rate without having top-tier credit. To get a better idea of just how much of a difference a higher credit score can make, and an idea of where your interest rate might land, it’s worth looking at the average rates by credit score. Credit score Average interest rate for new car loans Average interest rate for used car loans 781 to 850 3.84% 3.69% 661 to 780 4.9% 5.47% 601 to 660 7.25% 9.81% 501 to 600 10.11% 15.86% 300 to 500 12.93% 19.81% Source: Factors that affect auto loan interest rates Wh...

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace. How Does LendingTree Get Paid? Privacy Secured| Starting APR Loan terms Loan amounts Best for… 4.00% to 8.00% 12-84 months From $12,000 4.54% 36-96 months Unspecified 5.19% 36-84 months $500-$150,000 5.44% Up to 60 months Unspecified 5.54%* Up to 84 months Up to $250,000 6.19% Up to 72 months From $7,500 5.99% 36-72 months From $4,000 6.85% 36-72 months Up to $80,000 8.99% * w/autopay and excellent credit 24-84 months* $5,000-$100,000 Read more about *May include rate discount from using autopay or a car-buying service Getting a car can feel a lot like going to a circus — for the main act, a car appears in your driveway and money disappears from your wallet. With an auto loan, you agree to repay a lender over a set term, typically three to six years, in exchange for them paying a dealership (or a private seller) so that you can get a car. You generally pay more than what you borrowed, which equates to profit for the lender. How much more you pay largely depends on your credit score. How to get an auto loan in 3 easy steps Complete the form: Answer a few simple questions. Compare lenders: Get matched with up to five lenders. Save money: Find the loan that’s right for you. With a higher credit score, less of your paycheck wil...

You’re our first priority. Every time. We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Payment date Principal Interest Monthly payment Principal balance Jun 2023 $301.80 $66.67 $368.47 $15,698.20 Jul 2023 $303.06 $65.41 $368.47 $15,395.14 Aug 2023 $304.32 $64.15 $368.47 $15,090.82 Sep 2023 $305.59 $62.88 $368.47 $14,785.23 Oct 2023 $306.86 $61.61 $368.47 $14,478.36 Nov 2023 $308.14 $60.33 $368.47 $14,170.22 Dec 2023 $309.43 $59.04 $368.47 $13,860.79 Jan 2024 $310.72 $57.75 $368.47 $13,550.08 Feb 2024 $312.01 $56.46 $368.47 $13,238.07 Mar 2024 $313.31 $55.16 $368.47 $12,924.76 Apr 2024 $314.62 $53.85 $368.47 $12,610.14 May 2024 $315.93 $52.54 $368.47 $12,294.22 Jun 2024 $317.24 $51.23 $368.47 $11,976.97 Jul 2024 $318.56 $49.90 $368.47 $11,658.41 Aug 2024 $319.89 $48.58 $368.47 $11,338.52 Sep 2024 $321.22 $47.24 $368.47 $11,017.29 Oct 2024 $322.56 $45.91...