If you’re considering applying for an auto loan, you may be wondering, “What is a good interest rate for a car loan?” Keeping your credit score in mind, review the chart below and read on to learn more about getting the best possible rate, so you can drive home in the new or pre-owned vehicle you want. When you’re ready, contact our finance team near Rye and we’ll help you move forward with the next steps.
Average New-Car Loan | Annual Percentage Rate | Average Used-Car Loan | Annual Percentage Rate |
781-850 | 3.17% | 781-850 | 3.8% |
661-780 | 4.03% | 661-780 | 5.48% |
601-660 | 6.79% | 601-660 | 10.1% |
501-600 | 10.98% | 501-600 | 16.27% |
300-500 | 13.76% | 300-500 | 19.32% |
First, you’ll want to plan ahead by checking your credit report and credit score. Generally, the higher your credit score, the lower the interest rate on your loan. Plus, it doesn’t hurt to be ready to negotiate; you may be able to negotiate a better interest rate if you have good credit and a steady income on your side. What is a good car loan rate, exactly? Looking at the chart above, a good interest rate is between 3.17% and 13.76% when you take your credit score into account.
Choose the rate you’re aiming for and be ready to negotiate if you’re offered a higher rate. Additionally, make sure you understand the other terms surrounding the auto loan and auto loan rates; don’t focus on the payment alone.
The average interest rate for a three-year loan is 3% to 4.5%. However, you may receive a different offer depending on your credit score and the lender. The best way to compare auto loan interest rates is to explore your options and choose the offer that makes the most sense for your finances.
Now that you know the answer to the question, “What is a good rate on a car loan,” our finance center can help you move forward with the pre-approval and financing processes. If you have additional questions or want to find out what counts as good mileage on a used car, don’t hesitate to contact us! You’re also welcome to visit us near Stamford and New Canaan for in-person assistance.
Have you been thinking about buying the newMercedes-Benz GLB SUV? We don’t blame you. The stylish good looks of this SUV combined with reliable performance and cutting-edge features would make it a fine addition to any Greenwich driveway. But maybe you’re also curious about the Mercedes-Benz GLB towing capacity. The GLB isn’t actually rated for…
The cabin of the E-Class has even more to offer after 2021’s much-anticipated mid-cycle refresh, and we know that our neighbors are eager to take a closer look! This year’s E-Class interior features exciting and advanced technologies like Mercedes-Benz User Experience, as well as a redesigned steering wheel with built-in touch sensors, but that’s not…
The 2021 Mercedes-Benz GLS dimensions are sure to satisfy you and all of your passengers as you travel throughout Greenwich and Rye. We’ve covered everything you need to know about the interior and exterior Mercedes-Benz GLS dimensions below, so you can step into this seven-passenger SUV with confidence. Once you’ve seen enough, schedule a test…
888-249-6454
Call Now261 West Putnam Ave • Greenwich, CT 06830
Get DirectionsOpen Today! Sales: 9am-7pm
Open Today! Service: 7:30am-6pm
Open Today! Parts: 7:30am-6pm
Connect With Us