Current 6 Year Auto Loan Rates

According to market data the current rate for a 60 month new car loan is 4 93 4 87 for 48 months and 5 57 for a 36 month used car loan.

Current 6 year auto loan rates.

A 30 000 automobile loan at a 36 month term monthly payments would be 867 03 and apr of 2 59. What are current auto loan rates. Interest costs hit 2 680 for borrowers with good credit an an interest rate of 6 27. 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.

Current market rates also affect your auto loan rate. The national average for us auto loan interest rates is 5 27 on 60 month loans. At 11 65 the rate for buyers. 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.

Compare auto loan rates. Typically credit unions offer customers lower rates than other lenders. Simply enter your total amount. 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.

The market constantly fluctuates but a rate less than 5 generally is considered good. Loan payment and apr will vary based on the loan amount the term and any fees. Just like the price of a car auto loan rates often can be negotiated. The exact rate you pay will vary by your location and credit score.

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. 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. 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. Can you negotiate auto loan rates.

Even if your credit score is lower you may still qualify for.