Current 6 Year Auto Loan Rates

See rates for new and used car loans and find auto loan refinance rates from lenders.

Current 6 year auto loan rates.

Typically credit unions offer customers lower rates than other lenders. Loan payment and apr will vary based on the loan amount the term and any fees. 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. The national average for us auto loan interest rates is 5 27 on 60 month loans.

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. Can you negotiate auto loan rates. A 5 year fixed rate used car loan for 25 000 would have 60 monthly payments of 450 each at an annual percentage rate apr of 2 99. 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.

What are current auto loan rates. Current market rates also affect your auto loan rate. 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. 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.

Even if your credit score is lower you may still qualify for. A 30 000 automobile loan at a 36 month term monthly payments would be 867 03 and apr of 2 59. The exact rate you pay will vary by your location and credit score. Interest costs hit 2 680 for borrowers with good credit an an interest rate of 6 27.

Compare auto loan rates. Just like the price of a car auto loan rates often can be negotiated. Simply enter your total amount. The market constantly fluctuates but a rate less than 5 generally is considered good.

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.