What are the current interest rates on car loans?

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Roderick Skiles asked a question: What are the current interest rates on car loans?
Asked By: Roderick Skiles
Date created: Wed, Apr 21, 2021 9:12 PM
Date updated: Wed, Jan 18, 2023 7:27 PM

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Top best answers to the question «What are the current interest rates on car loans»

  • Interest rate by loan term. The interest rate you get can also depend on your car's loan term, though not always. In fact, the average interest rate on both a 48- and 60-month car loan from a commercial bank in the third quarter of 2019 was 5.27% , according to the Federal Reserve. While some lenders may charge lower rates for a longer term, others like credit unions offer higher rates on ...

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The interest rate on auto loans for 60 months is currently 4.1%. The rate for 48 months is 4.02%, and for 36 months it's 4.69%. Compared to several months ago, the rates have slightly decreased.

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