What is a good interest rate for a 72 month car loan?
What is a good interest rate for a 72 month car loan?
Loan term Average interest rate
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36-month new car loan 3.67% APR
48-month new car loan 3.74% APR
60-month new car loan 3.81% APR
72-month new car loan 3.96% APR
Is 4.9 a good interest rate on a car loan?
As of January 2020, U.S. News reports the following statistics for average auto loan rates: Excellent (750 - 850): 4.93 percent for new, 5.18 percent for used, 4.36 percent for refinancing. Good (700 - 749): 5.06 percent for new, 5.31 percent for used, 5.06 percent for refinancing.Mar 9, 2020
Is 4.75 a good interest rate for a car loan?
Credit Score Tier Average Interest Rate for a New Car Loan
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Super Prime 781 to 850 3.82%
Prime 661 to 780 4.75%
What interest rate can I get with a 700 credit score for a car?
People with good credit scores of 700–749 average an interest rate of 5.07% for a new car and 5.32% for a used car.
A 700 credit score puts you firmly in the prime range of credit scores, meaning you can get a competitive rate as long as you shop around, have good income, and have a solid debt-to-income ratio. A 700 credit score gets an average car loan interest rate of 3% to 6% for new cars and 5% to 9% for used cars.
Is 6% a good car rate?
Whether or not a 6% interest rate on a car loan is good or bad depends on your credit score, your income, and your debt-to-income ratio. Overall, the average interest rate on a 60-month car loan as of September 2021 is 3.81%. So, a 6% interest rate is high by comparison—especially since your credit score is 700.
What is a good interest rate on a car loan?
The average auto loan interest rate is 3.64% for new cars and 5.35% for used cars, according to Experian's State of the Automotive Finance Market report for the third quarter of 2021. With a credit score above 780, you'll have the best shot to get a rate below 3% for new cars.