What Are Car Interest Rates 2024. Interest rates will stay high. Knightley and ing aren’t the only ones expressing optimism about lower rates.
The average new car loan rate now sits at 9.58% — “the highest we’ve seen for more than 20 years.”. The lower rate you get, the less.
See Rates For New And Used Car Loans And Find Auto Loan Refinance Rates From Lenders.
One year ago, this figure stood at 7%.
The Lower Rate You Get, The Less.
As of october 2023, the average new car loan apr is north of 9%.
In March 2024, Automotive Site Edmunds.com Listed The Average Car Loan Interest Rate For February 2024 As 7.1% Apr For New Car Loans And 11.6% Apr For Used Car Loans.
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The Lower Rate You Get, The Less.
The average new car sold for $48,247 in november, an increase of less than 1% from october, but a 1.5% decline from last year, according to data from kelley blue book.
In Addition To Auto Loan Rates Continuing To Increase, New Car Costs Have Risen.
The fed raised rates through much of 2023, keeping auto loan rates high.
The Best Practice Is To Put 20% Down On A New Car Or 10% On A Used Car.