Current 6 Year Auto Loan Rates

Compare auto loan rates.

Current 6 year auto loan rates.

Can you negotiate auto loan rates. What are current auto loan rates. Credit scores of 719 for a new car or 655 for a used car or higher will help you qualify for the lowest auto loan interest rates. The national average for us auto loan interest rates is 5 27 on 60 month loans.

A prepayment penalty of 1 of the original loan amount applies if the account is closed within 1 year with a 50 minimum and 100 maximum. A 5 year fixed rate new car loan for 37 000 would have 60 monthly payments of 660 each at annual percentage rate apr of 2 69. Current market rates also affect your auto loan rate. The market constantly fluctuates but a rate less than 5 generally is considered good.

Interest costs hit 2 680 for borrowers with good credit an an interest rate of 6 27. Just like the price of a car auto loan rates often can be negotiated. Loan payment and apr will vary based on the loan amount the term and any fees. This tool will provide you with the monthly payments required for auto loans lasting 1 year 2 3 4 5 6 7 8 9 10 years.

A 5 year fixed rate used car loan for 25 000 would have 60 monthly payments of 450 each at an annual percentage rate apr of 2 99. Average auto loan rates for deep subprime credit. See rates for new and used car loans and find auto loan refinance rates from lenders. With top tier credit and an average interest rate of 4 90 would pay just 2 072 in interest over the life of a five year loan.

Even if your credit score is lower you may still qualify for. The exact rate you pay will vary by your location and credit score. A 30 000 automobile loan at a 36 month term monthly payments would be 867 03 and apr of 2 59. For individual consumers however rates vary based on credit score term length of the loan age of the car being financed and other factors relevant to a lender s risk in offering a loan.

Typically credit unions offer customers lower rates than other lenders.