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Our loan reporters and editors cover the topics consumers care about most – how to pay off debt, the best loans, the best rates, and what lenders offer – so you can invest with confidence, Brand logo for Bankrate

Read More: What are Wells Fargo interest rates, How It Compares

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Find out what the current auto loan rates are and choose the best loan for you

Find out what the current auto loan rates are and choose the best loan for you

Rates of car loans change frequently, so it’s important to stay on top of them. You’re going to pay for your loan based on the interest rate.

Lower interest rates can save you thousands of dollars. We have a rate table that can help you determine the best time to buy a new or used car.

bankrate car loan rates at present

Dates60-month new car48-month new car36-month used car3/10/20223.98phần trăm4.99phần trăm4.41phần trăm3/2/20223.97phần trăm4.99phần trăm4.40phần trăm2/23/20223.99phần trăm4.00phần trăm4.42phần trăm2/16/20223.97phần trăm3.98phần trăm4.41phần trăm2/9/20223.95phần trăm3.96phần trăm4.38phần trăm2/2/20223.96phần trăm3.97phần trăm4.41phần trăm1/26/20223.94phần trăm3.95phần trăm4.39phần trăm1/19/20223.93phần trăm3.94phần trăm4.38phần trăm1/12/20223.91phần trăm3.92phần trăm4.36phần trăm1/5/20223.86phần trăm3.87phần trăm4.28phần trăm12/29/20213.85phần trăm3.86phần trăm4.27phần trăm12/22/20213.86phần trăm3.87phần trăm4.28phần trăm12/15/20213.92phần trăm3.93phần trăm4.39phần trăm12/8/20213.89phần trăm3.90phần trăm4.34phần trăm12/1/20213.92phần trăm3.93phần trăm4.38%

What’s the best credit score for a low-interest loan?

For the lowest auto loan interest rates, you need a credit score of 719 (for a new car) or 655 (for a used car). It is still possible to qualify for a decent rate even if your credit score is low.

Bankrate lets you check your credit score for free if you don’t know it.

Read More: What are the best interest rates for savings accounts in 2022?

How can I get the best car loan interest rate?

Low credit scores may result in higher auto interest rates. Lenders may offer higher interest rates if your credit score is at the lower end (around 500).

Improving your credit score can go a long way toward improving your interest rate.

What’s the difference between new and used car interest rates?

A loan for a new car usually has a lower interest rate than a loan for a used car.

Generally, lenders see newer cars as less risky – they’re less likely to break down, and lenders can know exactly how much they’ll depreciate over time. A new car’s resale value is more predictable down the road, which results in a lower interest rate.

Are there any other important costs associated with car ownership?

The cost of car insurance is often more than the monthly payments on a car loan.

In order to select the best car insurance coverage for your needs, understand car insurance rates and the best car insurance companies.

Utilize our handy Auto Loan Calculator to estimate your monthly payments.

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